Casinos

Lucky Dragon Finds $55 Million to Finish Casino

If we are to believe the PR coming out of this development, they have found a sugar daddy to continue funding the project to completion. This comes only a month or so after reports were announced that people were being laid off, because the developers/owners couldn’t find anyone to continue the funding because the Chinese economy wasn’t looking as prosperous as before.

Even though the small boutique Asian casino launched fast and seemed to be starting well, there were almost immediate problems getting the needed funding for the August 2016 opening. Included in this was the denial of the City of Las Vegas to give them a “tax increment financing” to help them out. When they were denied this, it looked like the last $25 Million might never happen.

Worse was that after the timing went crazy, they said they would be facing a probable $5 million extra in over run costs.

What makes this project really cool is that most of the casino has been developed using EB-5 foreign investments, which were plausible during China’s growing economy. With many Chinese billionaires and millionaires worrying about the possibility that the government might take their money away, they have been looking into US Investments as a safe place for their money.

The project, which is situated between the Golden Steer restaurant and the Allure condominiums, includes a nine-story hotel tower and a separate casino building.

This $139.25 million, 375,000-square-foot, 204-room, is point blank, a very visually dramatic concept, even though it’s a lot smaller than most of the current developments. It’s clearly made for the Chinese and Asian market, with an “authentic Asian culture and gaming experience.”

VitalVegas described the Casino development as finding the money “under the cushions” and implying that the money might be anal in nature.

When this is done, it is good news for Flock and Fowl, which is next door and has already a “must-see” stop for those into the Chinese culture. Al Mancini, food reviewer and part-time Pikachu hunter, said of Flock and Fowl “Expanding the menu really seems unnecessary. The Hainan chicken rice is the star of the show here, and ordering anything else is just superfluous.” Although “cold poached chicken with rice that’s been cooked in chicken stock and a cup of chicken broth…sounds fairly boring, it’s a truly delicious meal thanks to the accompanying condiments.

Pesach
Pesach “Pace” Lattin has been doing online media and marketing for over 20 years and has earned the reputation of having a high standard of ethics and being an expert in both brand and direct response. Follow me
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