https://www.reviewjournal.com/business/casinos-gaming/lucky-dragon-temporarily-shuts-gaming-restaurant-operations/ So, being Asian-themed is not necessarily a good competitive advantage. Especially when the large resorts already cater to Asian customers with top service. At least, not enough at Sahara and LV Blvd. where RE is $$$. Maybe the same concept would have worked with cheaper dirt. Then again the whole thing's raîson d'etre was to get Asian money for the builders by luring them with EB-5 visas...
Yah I saw that today. I have no idea why they are doing this during CES. They are fully booked for the show. The problem with the Lucky Dragon is that it catered exclusively to Chinese and not anyone else. But it can't compete with the comps and whatever Asians get playing Baccarat at the big casinos. Resorts World has been rethinking it's Asian theme also to cater more for non-Asians.
Took a walk through Lucky Dragon a week prior Xmas. It was deserted. The RJ had a feature on the restaurants there that were totally devoid of clientele, and has been pointed out, gaming never got off the ground. You gotta give people a reason to get through your doors and stay awhile. The non stop from Beijing was supposed to be a boost for Dragon, but they never took advantage of it. Janet and I have been at Bellagio a couple of times during "Chinese new year". They do up the lobby and the arboretum/conservatory in red and green with Asian theme and the placed is packed. Plus the MLife loyalty program keeps people coming back, despite MGM's frequent attempts to aggravate their best customers.
That's the issue exactly. Although I'm sure some Chinese would like to stay in a hotel that caters to them directly, it doesn't outweigh the loyalty program. Resorts World will NOT have this issue as they are very strong in the Orient and all those perks will carry over. I'm sure Resorts World is happy to learn from the mistakes of Lucky Dragon.
Yeah on paper it sounded like a good idea, but whether it's a bad idea or bad execution, either way it wouldn't surprise me if down the road it turns into a hotel only, time shares or whatever. One aspect of the Lucky Dragon that conerned me early on was the lack of variety in eating options. For us, when it comes chosing a casino for the night, a large factor is often based on what food options a casino has. If you don't like Asian food or are not in the mood for it, you're pretty much screwed. While I don't mind, many in my family don't like to switch places for the evening. They don't want to gamble for example in one casino and then have to go through the crappy traffic again just to find another place to eat. The Dragon is not a walking traffic kinda place except for nearby SLS and their success is not much better, so you're sorta in a dead zone. Have a bad run gambling, not in the mood for Chinese food, there's no other option but to hightail it outta there. Not that this is a magic solution, but if Lucky Dragon had a highly rated, affordable coffee shop that serves your generic offering American food in addition to their Asian options I think more people (your average low roller) might not only come, but stay and gamble longer. I know grabbing that average low roller wasn't their orginal intent, but they have to expand their customer base.
For Chinese New Year the atmosphere over at Bellagio and such are much better IMO. Some will even fly in famous singers to perform for their CNY dinners; one has to gamble quite a bit of course in order to be invited. The Phoenix restaurant at the Lucky Dragon priced themselves out I think. For about the same price, why not eat at Jasmine, Blossoms, etc. Sent from my SM-G930F using Tapatalk
Look at the Sands/ Venetian. They have their own private 747 sp to bring high rollers over from China. How do you compete?
Its worse at the Wynn. $7 for a pot of tea? Are you joking? Did they bring the water all the way from China? Ping Pang Pong restaurant gets a lot of Asian business at the Gold Coast Casino across from The Palms. Traditional Dim Sum. I find authentic Chinese food in Vegas to be crazy high -- but I'm use to Hong Kong
Currently living in HK so when my wife and I visit Vegas there is really no good Chinese food. Haha. However, we are forced to frequent Vegas Chinatown every visit since that's what the in-laws preferred. Sent from my SM-G930F using Tapatalk
Seems like it's going BK. Probably won't close but look for none of it's vendors to get paid. Most of the blame seems to be about its lousy gaming payouts and "stingy" comps. Proof that just because you target one particular ethnic group, you still need to run a good and competitive Casino to survive. I also wonder about all these people who paid into it to get it funded so they could get a permit to work in the US. Too many people who really don't care what happens to the place. With stronger ownership you probably would see stronger leadership.
Absolutely. If the visa is the reason for the investment, once they have that, they maybe don’t care enough, the project is secondary. It’s a shame, but I have to admit, I’ve never been in the Lucky Dragon even to look around, didn’t appeal to me as a ‘low barely rolling roller’, whereas many hotels of various themes I enjoy wandering around for a day chatting to people, snacking and playing a little, that’s what Vegas is about to me. I think if I was of Asian heritage it would be different, but as everyone agrees, Bellagio etc already do a fantastic job, and along with the Asian themes at certain times, you get the all-important Vegas theme. Just because you are from China, doesn’t mean you want to visit ‘only china’ in Vegas, they want variety
Their visas cannot be renewed if the business closes, at least not unless they can qualify some other way. I had a client from Korea whose sushi restaurant ended up closing and he ended up having to fend off immigration for deportation proceeds pretty soon thereafter (his renewal was up - I think they're 7 or 10 years each). It's sadly ironic that so many uneducated, non-integrated immigrants with criminal records get to stay indefinitely (usually because of kids), while an educated guy who took a swing and a miss on a business but otherwise has skills, resources and a reputation in the community ends up following the rules and gets put through the ringer.
Six weeks from closing the floor to bankruptcy. https://www.reviewjournal.com/business/casinos-gaming/lucky-dragon-now-in-chapter-11-bankruptcy/
This Chinese joint is away from Vegas Chinatown, but dang good...and inexpensive. It's not the Sam Woo stuff (LOL). Food Express on Decatur, north of Sahara (www.brotherfoodexpressllc.com). Almost EVERYONE orders the Salt & Pepper Pork Chops ($9.95) and Green Beans with Garlic ($8.95). Image Unavailable, Please Login
My Asian friends do the same when we go together there is some pretty good food in Vegas Chinatown and other areas, not much on the strip...for CNY they go to the Venetian...and that group of hotels...
I was talking with a Chinese RE investor this week and we were talking about how wealthy Chinese already *had* great options at Wynn, Bellagio, Venetian, etc. Really, every resort is Asian targeted no matter the theme. He immediately shouted, "[Lucky Dragon] had no comps!"
Lucky Dragon to reopen in 60 days https://www.reviewjournal.com/business/casinos-gaming/new-lucky-dragon-owner-to-reopen-hotel-within-60-days-1665673/
