A group known as the Las Vegas Economic Impact Regional Center (LVEIRC) is in the process of developing the Lucky Dragon Hotel and Casino on the Vegas Strip and is expected to launch before the end of this year. The group is yet to divulge how much they have invested into the project but confirmed to the Las Vegas Review-Journal newspaper that the casino will focus on attracting Asian gamblers and high-rollers.
The group has hired a couple of senior executives to oversee the project in chief executive officer Andrew Fonfa who is also in charge of developing the $240 million Allure Las Vegas condominium project located next to the Lucky Dragon casino. William Weidner, the ex-chief operating officer and former president of the Las Vegas Sands Corp has been hired as a senior advisor for the project. The company also released an official statement on its website stating that both the Fonfa and Weidner families had made financial commitments to the project which will ensure that the project is launched during the fourth quarter of this year.
The property will feature a nine-storey hotel that has around 200 suites and rooms, a gaming floor of around 27,500 square feet and a 1.25 ton dragon carved out of glass. The casino floor will have around 37 gaming tables and the majority of those tables will focus on baccarat, a table game that is very popular in Asia, especially with VIP gamblers from Mainland China.
The gambling floor will also have a high limit room known as the Emerald Room and a special VIP gambling parlour for high-rollers. The casino will also hire staff that are bilingual and also look to promote pai gow, another popular game with Asian gamblers. There will also be provision for 300 slot machines.
The casino is being promoted as the “first resort delivering an authentic Asian cultural and gaming experience,” and also as “a community gathering hotspot for Asian visitors, locals and anyone looking for the best pan-Asian food and excitement in town”.
LVEIRC is also said to be consulting a number of ‘feng shui’ consultants during the development stage as a lot of Asian developers look to take the advice of ‘feng shui’ consultants during the design and layout stage as their advice is said to be auspicious and brings good luck when followed.
The Nevada Gaming Control Board stated that Clark County which covers downtown Las Vegas and the Strip had a total of 434 mini-baccarat and baccarat tables as of the May 31, 2016 and was responsible for generating $1.24 billion from May 31 2015 to May 31, 2016, which was a 12.7 percent year on year decline. Gaming investment analysts believe the decline in Vegas’s baccarat revenue is directly linked to the anti-corruption crackdown in Macau and the slowdown in China’s economy.