LAS VEGAS (AP) – No one has bid at a foreclosure auction for the Lucky Dragon casino-hotel off the Las Vegas Strip.
The opening bid for Tuesday’s auction was $35 million.
Three individuals were pre-qualified before the auction, but they did not offer any bids.
The Asian-themed casino-hotel opened in November 2016. The property closed its casino in January, faced foreclosure, filed for bankruptcy a month later and shuttered the hotel tower this month.
A chain-link fence now surrounds the property with 203 hotel rooms, casino, restaurant and bar space, swimming pool and other amenities.
California-based Snow Covered Capital is its main creditor.
The casino was financed with money from Chinese investors through the EB-5 visa program, which grants green cards to foreigners in return for investments of at least $500,000 on job-creating projects.
Copyright 2018 The Associated Press.
