Lucky Dragon Developers Want to Sell Via Bankruptcy Court
Las Vegas Review Journal, May 8, 2018
How much is the Lucky Dragon worth? That depends on whom you ask.
According to the developers, the bankrupt resort is worth $143 million. But according to their lender, it’s worth less than half that and isn’t earning enough revenue to cover its operating costs or its loans.
The Lucky Dragon, 300 W. Sahara Ave., was the first hotel-casino built from the ground up in Las Vegas since the recession and had a brutal start, marked by layoffs, foreclosure proceedings and the temporary closure of its casino and restaurants. The developers want to sell it through bankruptcy court, and prospective buyers have shown interest, but questions remain.
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