According to court papers filed Friday, Lucky Dragon entered chapter 11 bankruptcy \u201cto preserve jobs, pay its creditors and provide certainty to the market.\u201d The resort currently employs 98 people.<\/p>\n
Management said the bankruptcy court, as opposed to the planned foreclosure auction, was \u201cbest opportunity \u2026 to preserve and maximize\u201d value.<\/strong><\/p><\/blockquote>\nAccording to bankruptcy papers seen by the Las Vegas Review-Journal<\/em>, Lucky Dragon was valued at $143 million late last year. Should a buyer be found, it\u2019s likely they would seek to make significant changes and diversify the resort\u2019s target market.<\/p>\nBut for now, while the casino floor and several restaurants are closed for business, the hotel and most of its amenities remain open. The bankruptcy filing is not expected to disrupt these operations.<\/p>\n","protected":false},"excerpt":{"rendered":"
Chinese New Year didn\u2019t prove to be very lucky for Lucky Dragon, Las Vegas\u2019 newest casino and its most recently shuttered. On Friday, the first day of the Year of the Dog, the Chinese-themed casino filed for Chapter 11 bankruptcy protection, less than a year and a half after its grand opening. Lucky Dragon closed […]<\/p>\n","protected":false},"author":42,"featured_media":70635,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,18],"tags":[],"acf":[],"yoast_head":"\n
Lucky Dragon Casino Goes Down in Flames, Files for Bankruptcy<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n