The Lucky Dragon Casino on the north Strip may still be on target to open this year, but it’s not receiving any tax increment financing from the city to help it get there. A request for tax increment financing by the hotel’s developers was rejected by Las Vegas City Council members during a November redevelopment agency meeting. The Asian-focused boutique casino is being built at Sahara Avenue and Las Vegas Boulevard. This type of public financing provides incentives for developments […]

The post Lucky Dragon project on north Strip not impeded by request for funding denial appeared first on World Casino News.

Developers of the Lucky Dragon Hotel & Casino, under construction near the north end of the Las Vegas Strip were denied their request for a chance to come back to city leaders with a specific plan that would include financial assistance from the Redevelopment Agency in the form of Tax Increment Financing (TIF). Yesterday City Council members rejected the unusual request for subsidies that may have diverted city funds from parks and other improvements. In a most basic sense a TIF […]

The post Lucky Dragon Casino lender’s crap shoot comes up snake-eyes in Las Vegas appeared first on World Casino News.

The Lucky Dragon Hotel & Casino is set to ask Las Vegas city leaders for tax increment financing (TIF) approval on Wednesday, November 18th. They say their lenders will not create additional loan facilities if they don’t get a break on taxes or other material credit enhancement such as raising an additional $25 million in EB-5 on top of the $60 million already raised. A TIF is a public financing method or value capture strategy that is used as a subsidy for redevelopment, infrastructure, […]

The post Lucky Dragon Casino lender rolls the dice with Las Vegas Redevelopment Agency appeared first on World Casino News.