Construction of the $373-million Lucky Dragon Hotel & Casino, which is located on the Las Vegas Strip, is progressing on “aggressive schedule”, developer The PENTA Building Group said on Friday during a celebration for the completion of the hotel part of the project.
Paul Dutmer, Project Manager for the Lucky Dragon, revealed that construction commenced only a few months ago and when the lower part of the hotel tower was completed, workers started building one floor per week. With the hotel tower being finished, they now have to complete the parking garage and the casino part of the project. Mr. Dutmer said that the whole complex is expected to be finished and launched in the summer of 2016.
Originally, PENTA intended to use the Lucky Dragon site to build a second tower to the existing Allure. However, the developer decided that such a residential project would not be successful enough and decided to build the Asian-themed boutique hotel and casino instead.
Generally speaking, the Lucky Dragon Hotel & Casino will offer its visitors “authentic Asian cultural and gaming experience”, combining China’s rich cultural history with “modern-day luxury and amenities.” The complex will feature a number of dining facilities with authentic Asian cuisine, a nine-story hotel tower with as many as 200 luxury rooms, a spa, and a separate casino building.
The casino itself will provide players with the opportunity to gamble on Pai Gow, Sic Bo, Fan Tan, Baccarat, and other popular games. There will also be Feng Shui-designed private gaming saloons.
Construction of the Lucky Dragon is progressing at a time when Malaysian conglomerate Genting Group is building its $4-billion luxury integrated casino complex Resorts World Las Vegas, which, too, is to be located in the northern part of the Las Vegas Strip. Gaming analysts believe that the Lucky Dragon may eventually benefit from its much larger rival as the construction of Genting’s resort would help to build out the less developed north Strip.
Chris Jones, an analyst for Union Gaming Group, said that at first, PENTA’s property may face difficulties related to the poor foot traffic and the fact that the venue will be less visible than the ones located in the more active parts of the Strip. However, he pointed out that the Lucky Dragon’s near proximity to Las Vegas’ Chinatown will most definitely benefit the hotel and casino complex.
