Las Vegas Sun

December 15, 2018

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Shuttered Lucky Dragon sells at auction for $35 million

Lucky Dragon Preview

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 auction of the Lucky Dragon this morning opened and closed with a single bid.

Snow Covered Capital, the shuttered casino-resort’s main lender, placed an opening bid of $35 million for the 2-year-old property. No other bids were made by the 30 or so people in attendance at the Nevada Legal News building in downtown Las Vegas.

Built for $160 million in 2016, the Asian-themed resort struggled to find its footing before closing. Snow Covered Capital’s plan for the 203-room resort is unknown. The building sits on 2.51 acres off Sahara Avenue just west of the Strip.

Representatives for Snow Covered Capital weren’t immediately available for comment.