Published Thursday, Jan. 4, 2018 | 10:22 a.m.
Updated Thursday, Jan. 4, 2018 | 1:31 p.m.
The Lucky Dragon appear this morning that it is briefly abeyance gaming and restaurant operations and abbreviation agents as it begins the action of reorganizing.
The auberge and allowance boutique will abide open, including allowance service, morning tea and coffee, admiral said. Also, Cha Garden will break open, featuring a abounding bar at night and an broadcast aliment menu.
A backer for the Lucky Dragon said the resort will appoint alfresco firms to run the bank and aliment and cooler operations, and administration is planning to reopen the bank aural six months. The auberge will abide to action ceaseless during that time.
Workers who are laid off will accept the adventitious to acknowledge the Lucky Dragon back gaming and added restaurant operations resume, admiral said.
In a annual absolution acquaint on its Twitter account, the bank did not announce how abounding workers would be impacted. The bank has been accessible aloof over a year.
“While this is a difficult decision, this about-face paves the way for Lucky Dragon to authorize new partnerships that will enhance the property’s abiding accession and accommodate a bigger bedfellow experience,” the annual absolution stated.
Gaming chips and tickets can be adored at the auberge advanced desk. Any antecedent gaming, aliment and cooler promotions are no best valid, admiral said.
The Lucky Dragon opened in November 2016 with a flashy, acceptable Asian anniversary and a business plan that counted on Asian customers.
During hearings afore Nevada gaming regulators, then-General Manager Matthew Harkness said the resort would baby to Asians in Las Vegas, California and the Pacific Northwest. The resort was advised application Feng Shui concepts, and signs at the acreage were accounting in Mandarin and English.
In March 2017, Lucky Dragon admiral said VIP business was so able they were aperture a additional VIP gaming lounge to bigger baby to higher-end players.
The lounge would alter the Pearl Ocean restaurant, which in about-face would move into the bankrupt Asian aliment cloister on the aboriginal floor. But nine months afterwards the proposed new VIP lounge never embodied and the aliment cloister remained dark.
At the time, General Manager Jordan Seager, who replaced Harkness, wouldn’t animadversion on the resort’s finances, alone adage the planned changes were alone afterwards bigger uses were begin for the abandoned aliment court.
Being an absolute bank aloof with a beyond gaming company, the Lucky Dragon faced the aforementioned claiming as the SLS Las Vegas and the Cosmopolitan Las Vegas — they all opened after a amateur database.
“That’s a big allotment of it,” gaming analyst John DeCree said of the casino’s credible struggles. “It’s article we allocution about all the time — a database that can accompany in not aloof barter but high-caliber barter that can be your amount business.”
The problems may accept been exasperated, DeCree said, by the Lucky Dragon’s assurance on the awful aggressive bazaar for Asian customers.
“I anticipate the absoluteness is a lot of the big operators in Las Vegas, Boyd or Red Rock (which owns Station Casinos), they all baby absolutely able-bodied to the bounded Asian gaming customer, as able-bodied as the all-embracing Asian gaming customer. And it’s boxy for a abode like Lucky Dragon with bound amplitude for them to attempt with the history players accept at added casinos.”
DeCree said assurance on Asian barter brings added risks, too.
“The fixed-cost structure, alike for a abate bank like the Lucky Dragon, is rather large,” he said. “And because the focus was heavily on Asian customers, abundant of the gaming attic was baccarat, which has lower abstract win allotment for casinos. It’s additionally inherently a bit added volatile. So, a abate bank will accept a harder time arresting a brace of bad periods with lower win percentages.”
If the Lucky Dragon hires an alfresco aggregation to accomplish its casino, the new abettor would accept to reapply for a gaming authorization and go afore the Nevada Gaming Control Board and Nevada Gaming Commission for approval.
Nevada Gaming Commission Chairman Dr. Tony Alamo, who was acquainted of the approaching closing about a anniversary ago, said it is possible, from a authoritative standpoint, for the resort to accommodated its six-month borderline to reopen the casino.
“It depends on who (the new operator) is,” Alamo said. “If it’s addition who is accepted to us, it is actual doable. If they are not accepted to us and it requires an all-encompassing investigation, it may not be.”
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