Despite Las Vegas denying tax increment financing, Lucky Dragon casino developer Andrew Fonfa and executive William Weidner say the casino will open as planned later this year.
The casino is the first ground-up gaming development since the MGM completed its CityCenter development on the heels of the Great Recession and located in a relatively economically depressed area near the north end of the Las Vegas Strip on Sahara Avenue.
The Lucky Dragon developers last year sought an incremental tax break from Las Vegas, but the City Council denied the request in November, saying none of the many other casino developments currently underway are asking for or getting the same tax break.
The Asian-themed Lucky Dragon is to include a 204-room hotel, 27,500-foot casino, five restaurants, three lounges, an indoor and outdoor tea garden, and a pool and spa. A 2,500-pound glass dragon sculpture also is planned.
The Lucky Dragon on located on Sahara Avenue at Las Vegas Boulevard and near the I-15 interchange.
Some local officials call the area “blighted” and welcome the Lucky Dragon as an economic driver. But they still would not approve the tax increment financing request.
Lucky Dragon COO David Jacoby said getting the tax break would not have affected the planned opening, but hoped city officials would do more to support the casino industry and help more casino projects in the future.
Developers say the Lucky Dragon will employ about 1,000 workers upon opening, but have not announced a likely opening date.
