1. Lucky Dragon Las Vegas Nv
2. Lucky Dragon Las Vegas Foreclosure Auction
3. Lucky Dragon Las Vegas Bankruptcy
4. Lucky Dragon Las Vegas Closed

Lucky Dragon Chinese casino in Las Vegas sold. An Asian-themed Las Vegas casino-hotel that was open a little more than a year has been sold to the owner of a local construction equipment firm.The. Documents from the Clark County Recorder's office show the Lucky Dragon Casino, which opened in late 2016, is now facing foreclosure. The update comes just weeks after the off-strip property. Feb 22, 2018  What happened is the strict Asian concept didn’t play out according to plan. We received this question a couple months ago, when what was happening at Lucky Dragon was still a little in flux, so we waited to address it till the situation resolved itself, which it has: A little over a year after opening, the Lucky Dragon has entered into Chapter 11 bankruptcy. On Ahern, chairman, and chief executive of Las Vegas construction-equipment company Ahern Rentals, purchased the Lucky Dragon for $36 million, property records show. The transaction took place almost half a year after lenders foreclosed on the property, the Las Vegas Review-Journal reported in an article published Monday.

This week's Inside Gaming shares news of the imminent opening of what will be New York's largest casino, tells of the theft of millions' worth of chips from a Macau casino, updates the situation involving the still-closed Lucky Dragon in Las Vegas, and passes along some recent bad beat jackpot headlines.

Jan 23, 2018  Las Vegas’ Lucky Dragon Hotel & Casino started 2018 by temporarily closing all gaming and restaurant operations. Now its facing foreclosure and the auction block. In fact, the Las Vegas Review-Journal is reporting the the off-Strip boutique-style casino resort designed to create an authentic Asian cultural and gaming experience received a default notice in September. After what was thought to be a temporary closure of its casino and restaurants on Jan. 4, the Lucky Dragon Hotel and Casino, which opened on Nov. 9, 2016, just west of Las Vegas Boulevard, is now reportedly facing foreclosure. In order to cut operating costs, just a few months after opening Lucky Dragon shut down one of its restaurants and about a hundred people including the general manager. Derek Stevens, owner of The D Las Vegas hotel-casino, attends the auction for the Lucky Dragon hotel-casino, at the Nevada Legal Support Services office in Las Vegas, Tuesday, Feb.

Resorts World Catskills Announces February Opening

Fargo north dakota real estate. The opening date for New York's newest and largest casino has been moved up, as this week came the announcement that Resorts World Catskills will be opening its doors on February 8. That's three weeks ahead of the previously planned-for March 1 opening.

Lucky Dragon Las Vegas Nv

Located 90 miles north of New York City near Monticello, the $1.2 billion property looks to revive the once popular 'Borscht Belt' region as a tourist destination.

The casino will feature 150 table games and 2,150 slots, while the resort will have a hotel with 332 luxury suites, numerous restaurants, an entertainment village, an indoor waterpark lodge, and an 18-hole golf course.

'We look forward to driving tourism to the Catskills, stimulating the economy and making meaningful contributions that help put the Catskills back on the map as a premier getaway and true destination,' said casino VP Charles Degliomini, as reported by USA Today.

Majority owned by the Genting Group, the new casino hopes to avoid the recent struggles of the three other upstate casinos — Rivers Casino & Resort, del Lago Resort & Casino, and the Tioga Downs & Casino — each of which have all performed below expectations of late.

$6 Million Worth of Chips Stolen from Wynn Macau

Just last week we passed along reports of two more robberies occurring at Las Vegas casinos, incidents which followed an earlier robbery at the Bellagio poker cage in late November.

This morning CNNMoney is reporting news of another casino heist, this one occurring in Macau. And it appears in this case it was an inside job.

Authorities are searching for $6 million worth of missing casino chips, allegedly stolen from the Wynn Macau by one of its own employees, reports CNNMoney.

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Two suspects — a dealer and an accomplice — have been arrested, with Macau police stating they are currently not looking for anyone else in the case. While police didn't share details on how the theft occurred, 'local media reported that the suspect allegedly stuffed [the chips] into a bag in a VIP room and simply carried them out.'

The chips remain missing. Of course, whoever presently possesses them would have to return to the casino in order to attempt to use them in games or convert them to cash.

Lucky Dragon Casino Reportedly Facing Foreclosure, Auction in Early February

Two weeks ago we mentioned here how the Lucky Dragon Hotel & Casino located west of the Las Vegas Strip on West Sahara Avenue abruptly shut its doors barely a year after opening. At the time its owners indicated the shutdown would only be temporary, part of a cost-cutting plan that also included reducing staff.

It appears today the closing of the Asian-themed property may be more than temporary, however, with news that the casino is reportedly facing foreclosure. According to the Las Vegas Review-Journal, the property was delivered a default notice last September with a foreclosure auction already scheduled for February 6.

While the sale of the casino via auction doesn't mean it won't be reopening, it is nonetheless 'another sign of financial distress at the year-old boutique resort,' explains the LVRJ.

The auction notice specifies that $48.9 million remains owed on a $90M loan taken out in early 2016 by the casino's developer Andrew Fonfa.

Nevada Gaming Control Board Delays Red Rock Casino BBJ Ruling

Finally, and in case you missed it, there was recent news regarding the disputed bad beat jackpot that occurred at the Red Rock Casino last July.

You may recall the case involved dozens of players at various Station Casinos poker rooms thinking they had each won a portion of a $120,000 BBJ only to discover Red Rock Casino ruled the hand to have been invalidated due to one of the players involved showing his cards early.

An initial ruling in favor of the players resulted in an appeal by Station Casinos. That appeal led to a hearing in December before the Nevada Gaming Control Board regarding the situation.

Last week the NGCB held its first meeting of the new year, also the first following the resignation of former Chairman A.G. Burnett in December. There the board decided it still needed more time to consider details related to the case, and so delayed making any final ruling just yet.

For those who are curious, our Valerie Cross provides a detailed history of the case including the latest update in her article from yesterday, 'Red Rock Casino Bad Beat Jackpot Payout Dispute Continues.'

Meanwhile, there was some happier bad beat jackpot news this week as well from the Motor City Casino in Detroit. That's where players in a six-handed no-limit hold'em cash game were the lucky recipients of the biggest BBJ in history, dividing an incredible $1,068,590 after a player lost a quads-over-quads hand.

Read more about the Motor City miracle here: 'Poker Players in Detroit Hit Biggest Bad Beat Jackpot in U.S. History.'

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This week's Inside Gaming gives an update from the 'mini-casino' bid auctions in Pennsylvania, visits Macau to talk Chinese New Year tourism, looks in on the latest regarding the embattled Lucky Dragon in Las Vegas, and reports on a UK betting giant being fined by regulators.

Fourth Pennsylvania 'Mini-Casino' Bid Goes to Greenwood Gaming

There was a bit of drama this week in the latest auction for 'mini-casino' licenses in Pennsylvania.

Yesterday it was announced another such license would be awarded to Greenwood Gaming and Entertainment Inc. who submitted a bid of $8.1 million to place a satellite casino in the south central part of the state.

However, Greenwood's bid was actually not the highest this week, as Sands Bethworks Gaming, LLC, owner of the Sands Casino Resort Bethlethem, had submitted the highest bid of $9.9 million on Wednesday.

As it happened, the Sands' bid intruded on an area already claimed by Mount Airy Casino Resort, winners of an earlier auction.

'Since the location does not meet the requirements of Act 42 — Pennsylvania's 2017 gaming expansion law that authorized the mini-casinos — Sands' bid [was] invalidated,' explains Lehigh Valley Live.

Greenwood currently operates Parx Casino in Bensalem. Like other auction winners, the company has two days to pay the full bid price, then six months to submit an application for the Category 4 slot machine licence. Such applications will include specific details regarding locations and development plans.

'The new casinos are, by the statute, designed to have between 300 and 750 slot machines and up to 30 table games,' notes Penn Live.

Greewood's accepted bid — the fourth so far — pushes the total close to the $120 million mark, well over the $100M goal the state initially targeted from the issuing of the 10 licenses.

Macau Tourism Up During Chinese New Year

The Chinese New Year was recently celebrated (from February 15-20), and according to the Macau Government Tourism Office the Special Administrative Region enjoyed a 7.9 percent increase in tourists over a year ago reports GGRAsia.

Of that total, 73.8 percent of those visiting were from mainland China, a 14.5 percent increase from last year.

How those figures will affect the month's gaming revenue remains to be seen, although many analysts are quick to minimize expectations of a correlation between increased tourism and casino spending. 'This is because research indicates that high-stakes play by a relatively small number of visitors is still an important component of the market,' GGRAsia explains.

January saw another healthy increase in gaming revenue among Macau's casinos, up 36.4 percent year-over-year according to the Gaming, Inspection, and Coordination Bureau Macao SAR. That's the 18th-straight month of increases following just over two years' worth of revenue decreases from 2014 to 2016.

Lucky Dragon Opens Hotel (For Now), Casino Remains Closed

First came the abrupt closure of the Lucky Dragon Hotel & Casino in early January, said to be temporary. Two weeks later came reports the casino that had only opened a little over a year before was facing foreclosure.

Lucky Dragon Las Vegas Foreclosure Auction

While there was no foreclosure auction, on Wednesday a Nevada bankruptcy judge ruled that while the Lucky Dragon hotel will be staying open through March 27 (the date of the next bankruptcy hearing), the casino will remain closed.

The company owning the Lucky Dragon filed for bankruptcy last week. KVVU-TV in Las Vegas reports that during Wednesday's hearing the company's lawyers 'said the property was appraised at $143 million in November, however creditors said it was appraised at $60 million.'

According to the casino's representatives, should the property located on the north end of the Strip be put up for sale, there are 'a number of interested bidders' although specifics regarding possible buyers were not shared.

Lucky Dragon Las Vegas Bankruptcy

UK Regulators Fine William Hill £6.2M

This week the London-based bookmaker William Hill was hit with a £6.2 million fine by the UK Gambling Commission for 'failing to protect consumers and prevent money laundering,' according to The Guardian.

According to regulators, the sports betting giant 'failed to spot obvious signs of problem gambling, and in doing so breached anti-money laundering and social responsibility regulations.'

Lucky Dragon Las Vegas Closed

More specifically, the UKGC charged the company with 'a systemic failing' to seek information about customers' fund sources or to monitor whether or not they were problem gamblers.

One example cited described a customer having deposited £541,000 over a 14-month period with William Hill having been under the impression he earned £365,000 per year. In fact, the individual earned a £30,000 annual salary 'and was funding his gambling habit by stealing from his employer.'

The fine total includes £5M for failing to follow regulations plus another £1.2M for money earned from 10 customers over a two-year period. The £6.2M fine is the second-largest ever levied by the commission.

More on the story can be found at PokerNews UK.

^{Photo: 'Slot Machine,' Jeff Kubina, CC BY-SA 2.0.}

Be sure to complete your PokerNews experience by checking out an overview of our mobile and tablet apps here. Stay on top of the poker world from your phone with our mobile iOS and Android app, or fire up our iPad app on your tablet. You can also update your own chip counts from poker tournaments around the world with MyStack on both Android and iOS.

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  IndustrycasinosPennsylvaniaSands Casino Resort BethlehemLas Vegas Sands Corp.Greenwood Gaming and EntertainmentParx CasinoMacauChinaLucky Dragon Hotel & CasinoLas VegasNevadaWilliam HillUnited Kingdomsports betting

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