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Send to Email Address Your Name Your Email Address Cancel Post was not sent - check your email addresses! Ahern, who bought the property last year, is opening a new chapter for the small, off-Strip resort with a short but volatile history.
The Chinese-themed Lucky Dragon, developed by Andrew Fonfa, was the first hotel-casino built from the ground up in Las Vegas since the recession and tried to capitalize on a coveted slice of the tourism market: Asian gamblers.
But it flamed out fast, closing less than two years after it opened. Ahern, owner of Las Vegas construction-equipment firm Ahern Rentals, said he has invested in real estate before, mostly industrial and manufacturing properties, but never owned a hotel until now.
The Lucky Dragon opened in November with its hotel and casino in separate buildings. It struggled to draw big crowds, closed its casino and restaurants in January , faced foreclosure soon after, and filed for bankruptcy in February Its swift demise was finalized in October when the nine-story hotel tower closed , the Lucky Dragon was sealed off with chain-link fencing, and lenders foreclosed on the property.
Reminders of the Lucky Dragon were still there this week. Its statues flanked an entrance to the former casino building along Sahara, and inside, its one-and-a-quarter-ton glass dragon chandelier was hanging from the ceiling.
Ahern said the statues would soon be gone and the chandelier would be hauled away before the building reopened. Contact Eli Segall at esegall reviewjournal.
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Thank you for your feedback. People in the front of the house of the resort will speak Mandarin, Cantonese and other Asian dialects.
Signage is in Chinese first, English second. What we're trying to do is build an authentic cultural experience from the ground-up for Asian clientele, both locally and regionally throughout the United States.
On September 6, , company officials announced that the resort would open on December 3, Each room included a wall mural designed to represent the "peace and tranquility of ancient China," according to the hotel.
The official grand opening took place on the afternoon of December 3, , and was accompanied by a ribbon-cutting ceremony , costumed dancers dressed as Chinese lions and a dragon, and firecrackers.
The Lucky Dragon's centerpiece is a 1. Work on the chandelier began in May , with nearly people working on it until its completion.
Installation of the chandelier was completed in November , after two weeks. In February ,  the resort planned to add an additional VIP gaming area due to the popularity of its VIP club.
For its VIP members, the casino also introduced a rolling-chip program, a concept that was common in Macau.
Both companies ultimately agreed to dismiss their claims. Approximately employees — including top managers, and bar and wait staff — had been fired by late March , as the result of poor customer turnout.
In response, the casino began offering nightly entertainment — including Jazz Saturdays, and karaoke on Mondays — later that year.
The default notice was not publicly revealed at that time. In December , the Las Vegas Review-Journal visited the Lucky Dragon on several occasions and noted that the property appeared to be struggling, as its casino and restaurants were mostly empty of customers.
The newspaper also interviewed local Chinese gamblers, who indicated that "the problem did not lie so much with Lucky Dragon's offering of entertainment or food as with its comparatively stingy gaming and comp policy.
In addition, it faced competition from the nearby Palace Station and SLS resorts, which also targeted Asian clientele.
Chen later sued Fonfa, Weidner and Seager, stating that they had not made him aware of the casino's financial difficulties. On the morning of January 4, , the casino and restaurants were temporarily closed and the property announced plans to reorganize itself by hiring new firms to operate those aspects of the resort.
The hotel and a gift shop remained opened. On February 16, , the Lucky Dragon entered Chapter 11 bankruptcy to preserve the jobs of its 98 employees, as well as to pay its creditors and to "provide certainty to the market," according to court documents.
Management believed that auctioning the Lucky Dragon through bankruptcy court would be the best way to preserve and maximize the value of the resort.
The developers hoped to sell the property through bankruptcy court. However, Ryan Works, an attorney representing of the project's EB-5 investors, said he would prefer a new investor rather than a sale, which he feared would wipe out the ownership stakes of his clients.
Works stated that EB-5 investors spent the most money on the project and that none of them had received permanent U. Fonfa expected to choose a group by the end of June , and his group planned to auction the resort on July 20, Fonfa did not specify if his group planned to sell its entire stake in the resort or simply partner with the other group.
The hotel closure was approved by a U. Bankruptcy judge,   and took effect on October 2, , while a foreclosure auction was expected to take place at the end of the month.
With no bids made, Snow Covered Capital retained ownership of the Lucky Dragon. The investors claimed that they were "fraudulently induced" by the developers to invest in the project.
The investors had yet to receive U. In April , Snow Covered Capital sued Fonfa, Weidner and Jacoby, alleging that they were required to reimburse the company for the cost of purchasing the Lucky Dragon.
Following the auction, the property received interest from numerous prospective buyers, although the listing broker stated that approximately 98 percent of them were "dreamers" with no realistic chance of closing on a purchase of the property.
Ahern was among few prospective buyers who was financially capable of purchasing the property. Ahern intended to eventually reopen the hotel and convert the casino area into conference and convention space.
He also planned to give the property a new name, which would be determined at a later date. It eventually reopened as the Ahern Hotel and Convention Center in late , with redecorated rooms and new signage, while retaining the red exterior of its predecessor.
He hoped the entire resort would be ready in time for a grand opening on July 4, Ahern later hoped to have the renovations finished in October In August , the hotel lobby hosted an evangelical event by Paula White , the personal pastor to Republican U.
The event was part of Trump's re-election campaign , and it attracted hundreds of guests. This was an alleged violation of pandemic safety orders issued by Nevada governor Steve Sisolak , a Democrat.
The orders prohibited gatherings of more than 50 people, and Sisolak criticized the event for going over the limit.
The Trump campaign and event organizers noted that Nevada hotels were allowed to operate at percent capacity under Sisolak's order.
The lobby had a maximum capacity of 1, people, and the event garnered guests. Tony Hsieh is once again looking over downtown Las Vegas, this time in the form of a memorial at Zappos headquarters, the online retailer he once oversaw.
Largest trade show of is going completely digital, leaving Las Vegas with a new exhibit hall but nobody to fill it and a missed opportunity for millions of dollars.
This time of year, Las Vegas is usually bustling with hundreds of thousands of people flying in for CES. But not this year — and Southern Nevada is set to miss out on hundreds of millions of dollars because of it.
The Lucky Dragon remains closed in Las Vegas, Monday, April 22, MOST READ. LOCAL NEWS YOUR WAY.The free Lucky Dragon slots come with 10 paylines and a low to mid-range volatility, not to mention some both-ways-win gameplay to ensure that players always have a chance to add some extra cash to their prize pot. Attention! If you make one bet in this game bonuses canceled: Cashback ; Wager ; Wager ; Continue. Cancel. Check out this Yogg Mage fun Hearthstone deck for the Madness at the Darkmoon Faire expansion. The $ million Lucky Dragon was one of the shortest-lived casino ventures in the history of Las Vegas. The first to be built from the ground up since the recession, the Asian-themed “boutique”. The free Lucky Dragon Casino slot machine puts on an okay show, but it doesn’t make us rich beyond our wildest dreams, nor does it keep us entertained for long. What is more, we’d say that there’s more bad luck here than there is good, due to how often we managed to trigger features (which was hardly any).