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Lucky Dragon Back on Track

Last edit: chesteronriver on Wednesday, 18th May 2016 9:35 am
Last response by wpsteel66 30th May 8:48pm

I have read a few articles this month claiming that the Lucky Dragon Casino and Hotel has secured private financing and is "on track" to open later this year (link below). Looks like the Fonfa's and Weidner's have anteed up after a failed attempt to get Tax Increment Financing late last year.

I am excited for this, but I know many question marks will be present at opening. Such as rough neighborhood (especially at night I have read), location overall translating to not many people will drop in while walking by.

However, nearby is SLS, Rock in Rio to the south across Sahara, Golden Steer next door (a good trip back in time) and a not too far stroll to the Circus Circus, Stratosphere and eventually the Convention Center expansion.

The rooms in this vegastripping link looked fantastic:

I sure hope they stuck to that script on the rooms. It looks like, at least for now, they are niche marketing....not sure how that will work long term, but I see why they want to at least give it a try. Again, I look forward to this and will hopefully stay there within a few months of opening. I do admit I think there is not much middle ground for this will either be a big success in a carved-out niche, or it will struggle from the get-go.

So what do you think? it going to fly or struggle to get off the ground?

(Chuck....hope it was okay to post these links)

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 talktobrent responded on Wednesday, 18th May 2016

Considering the economic slowdown and corruption crackdowns in China, I don't see their Asian market niche working too well. The location isn't ideal, and assuming less high end play comes from Asia in the near future, they will be trying to steal existing business from the likes of Wynn and others, which won't be easy. My guess is they will quickly pivot to target a broader audience, or just sell the place to somebody that will rebrand it.

 fudgewapner responded on Thursday, 19th May 2016

Without foot traffic, I don't see how it can be successful at all. It's like walking from Wynn to Bally's, but an uninteresting barren walk. A quick Streetview stroll shows no pedestrians in that stretch. SLS is still bleeding money - right? Can Lucky Dragon rely on pulling bacc players from the high-end properties? Hard to picture anything but colossal failure.

 joekollar responded on Thursday, 19th May 2016

Palace Station has survived for a long time over that way without foot traffic. Hopefully the Dragon will too.

 fudgewapner replied on Thursday, 19th May 2016

Palace Station was also built in the mid 70's, so maybe they don't have that debt load hanging over them? Do you think Lucky Dragon can be a locals-only type place - or maybe they'll have to? I'm only a visitor, and don't know about the locals places!

 joekollar replied on Friday, 20th May 2016

True, the debt load for PS was probably much less. Still, I'm sure the Dragon will stumble a bit but since it actually seems to offering a real theme too, it might draw more interest than another boring "ultra" place like SLS.

 Chuckmonster responded on Friday, 20th May 2016

I really like the Lucky Dragon's 'microclimate' idea. The don't have a lot of rooms, dining or restaurant space to fill. With smart targeted marketing, some international player development and Chinatown sorta being near there, they'll probably do pretty well. At least I hope so. The Strip needs more diversity of ownership and ideas.

 levans responded on Saturday, 21st May 2016

I think they will get enough people to head that way but during the daytime and not at night. It's a different look and that will interest some. SLS is hanging around and with the other development in the area if they can hold out it will work. You will at least draw from Stratosphere and the gift shop folks.

 anawas responded on Monday, 23rd May 2016

What's a cheap(er than building on the Strip) and easy (with the right marketing) solution to bad locations?

Other off-Strip and near-Strip properties run shuttle buses to sister/partner properties. The LD should, too.

And perhaps SLS should have considered some shuttles instead of just relying on the monorail.

 wpsteel66 responded on Monday, 30th May 2016

I am curious to see how well they do in this location...I wish them the best and hope they are successful.