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The hotel and a gift shop remained opened. On February 16, , the Lucky Dragon entered Chapter 11 bankruptcy to preserve the jobs of its 98 employees, as well as to pay its creditors and to "provide certainty to the market," according to court documents.
Management believed that auctioning the Lucky Dragon through bankruptcy court would be the best way to preserve and maximize the value of the resort.
The developers hoped to sell the property through bankruptcy court. However, Ryan Works, an attorney representing of the project's EB-5 investors, said he would prefer a new investor rather than a sale, which he feared would wipe out the ownership stakes of his clients.
Works stated that EB-5 investors spent the most money on the project and that none of them had received permanent U.
Fonfa expected to choose a group by the end of June , and his group planned to auction the resort on July 20, Fonfa did not specify if his group planned to sell its entire stake in the resort or simply partner with the other group.
The hotel closure was approved by a U. Bankruptcy judge,   and took effect on October 2, , while a foreclosure auction was expected to take place at the end of the month.
The investors claimed that they were "fraudulently induced" by the developers to invest in the project. The investors had yet to receive U.
In April , Snow Covered Capital sued Fonfa, Weidner and Jacoby, alleging that they were required to reimburse the company for the cost of purchasing the Lucky Dragon.
Following the auction, the property received interest from numerous prospective buyers, although the listing broker stated that approximately 98 percent of them were "dreamers" with no realistic chance of closing on a purchase of the property.
Ahern was among few prospective buyers who was financially capable of purchasing the property. Ahern intended to eventually reopen the hotel and convert the casino area into conference and convention space.
He also planned to give the property a new name, which would be determined at a later date. It eventually reopened as the Ahern Hotel and Convention Center in late , with redecorated rooms and new signage, while retaining the red exterior of its predecessor.
He hoped the entire resort would be ready in time for a grand opening on July 4, Ahern later hoped to have the renovations finished in October In August , the hotel lobby hosted an evangelical event by Paula White , the personal pastor to Republican U.
The event was part of Trump's re-election campaign , and it attracted hundreds of guests. This was an alleged violation of pandemic safety orders issued by Nevada governor Steve Sisolak , a Democrat.
The orders prohibited gatherings of more than 50 people, and Sisolak criticized the event for going over the limit.
The Trump campaign and event organizers noted that Nevada hotels were allowed to operate at percent capacity under Sisolak's order. The lobby had a maximum capacity of 1, people, and the event garnered guests.
Later in the same week, the hotel hosted the Mrs. Nevada pageant with people. Previous events of similar size had been held at the hotel recently without issue.
In August , officials announced a contest to create a name for the Lucky Dragon's night market restaurant — the resort's last unnamed eatery — with the winner receiving a weekend stay package.
Each restaurant offered only authentic Chinese food, which company officials expected to be the resort's primary advantage to bringing in customers.
There were also plans to move Pearl's Ocean from the second floor to a larger space on the first floor, where it would occupy the dining area of Dragon's Alley.
At the end of the year, prior to the closure of the Lucky Dragon's restaurants and casino, there had been plans to reopen Dragon's Alley as a different food and beverage business.
From Wikipedia, the free encyclopedia. Redirected from Lucky Dragon Hotel and Casino. Hotel in Las Vegas, US. For other uses, see Lucky Dragon.
Las Vegas Review-Journal. Archived from the original on June 30, Retrieved May 8, Las Vegas Sun. Archived from the original on July 30, Retrieved January 31, August 5, Archived from the original on January 10, Las Vegas Weekly.
Archived from the original on November 15, Retrieved November 14, Archived from the original on October 18, Retrieved March 17, Construction Today Magazine.
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