Las Vegas Sun

October 21, 2018

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Closed Lucky Dragon resort going up for auction

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Sam Morris/Las Vegas News Bureau

The Lucky Dragon resort is seen on Sahara Avenue on Tuesday, Nov. 29, 2016, ahead of its grand opening on Dec. 3, 2016.

The shuttered Lucky Dragon hotel-casino near the north end of the Strip is set to be sold to the highest bidder later this month.

Built for $160 million in 2016, the property is going up for auction Oct. 30.

The property includes a 203-room hotel, a 27,500-square-foot casino floor, space for five restaurants and bars, a spa, outdoor swimming pool, fitness center, retail space and 408 parking spaces on 2.51 acres fronting Sahara Avenue, just west of the Strip.

“For the right visionary and owner, this site and amenity-rich property represents an excellent opportunity to own a first-rate Las Vegas hospitality property distinctly situated between the blossoming north end of the Strip and the gateway to downtown Las Vegas,” Michael Parks, senior vice president of CBRE, a commercial real estate firm helping broker the deal, said in a statement.

“The immediate area is marked by the ongoing development of Resorts World; reimagination of the Drew, formerly known as Fontainbleau; a recently announced $100 million reinvestment in SLS; expansion and development of the Convention Center district; and 38 acres recently acquired by Wynn north of Fashion Show,” Parks said.

The winning bidder will take control of the Asian-inspired resort with a clear title.

The auction is set for 10 a.m. Oct. 30 at the Nevada Legal News building, 930 S. Fourth St., in downtown Las Vegas.