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That didn’t take long in Vegas

From the LVRJ:

Less than a year-and-a-half after it opened, the Lucky Dragon is in bankruptcy.

Lucky Dragon developer Andrew Fonfa pushed the off-Strip, Chinese-themed resort into Chapter 11 protection Friday, less than a week before the property’s scheduled foreclosure auction this Thursday, court records show.

The resort employs 98 people and filed for bankruptcy “to preserve jobs, pay its creditors and provide certainty to the market,” according to court papers.

Management expects to run a “quick” but “thoughtful” auction and believes that a sale through bankruptcy court “is the best opportunity … to preserve and maximize” its value.

Remember this place? It was the casino/hotel that was going to cater exclusively to Chinese customers with traditional legit Chinese food and heavy on the Chinese gaming. It was going to be the Chinese experience in the middle of the desert. Fairly shocked things didn’t work out for that place.

However…

Chinese gamblers playing at other casinos indicated last year to the RJ that the problem was not Lucky Dragon’s food and entertainment offerings but its comparatively stingy gaming and comp policy.

Numbers from :

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