Lucky Dragon to be Sold at Auction Oct. 30
October 11, 2018 2:46 PM
by Staff & Wire Reports
The Lucky Dragon Hotel & Casino located at 300 West Sahara Avenue, Las Vegas, NV 89102, will sell at auction to the highest cash bidder on Tuesday, October 30. When built less than 24 months ago, the property was the first ground-up hotel/casino constructed in Las Vegas since the recession. More than $160 million was invested to complete the project, which includes a 222,548-square-foot, 203-room hotel, 27,500-square-foot casino and 408 parking spaces on 2.51 acres of land. Today, the property comes to market free of all encumbrances and offers clear title to its new owner.
The new owner will gain a property designed by renowned Las Vegas architect Ed Vance and Associates, and constructed by the Penta Building Group. Features include five restaurants and bars, a full spa, casino space with substantial VIP gaming areas, outdoor swimming pool and hot tub, retail area, business center and fitness center.
“The auction on October 30 is the single path to new ownership for this recently constructed hotel/casino property located just west of Las Vegas Boulevard,” said Michael Parks. “For the right visionary and owner, this site and amenity-rich property represents an excellent opportunity to own a first-rate Las Vegas hospitality property distinctly situated between the blossoming north end of the Strip and the gateway to Downtown Las Vegas. The immediate area is marked by the ongoing development of Resorts World; reimagination of The Drew, formerly known as Fontainbleau; a recently announced $100 million reinvestment in SLS; expansion and development of the Convention Center District; and 38 acres recently acquired by Wynn north of Fashion Show.”
Bid details and instructions include:
Date: Tuesday, October 30, 2018.
Time: 10:00AM Pacific.
Location: Nevada Legal News, 930 So. Fourth St., Las Vegas, NV 89101 (front entrance).
Sale: First American Title Insurance Company (“Trustee”), as Trustee under a Deed of Trust recorded on May 11, 2018 with the Clark Country Nevada Recorder’s office, executed by Lucky Dragon, LP, a Nevada limited partnership as Trustor, and Snow Covered Capital, LLC, as Beneficiary, WILL SELL AT PUBLIC AUCTION TO THE HIGHEST BIDDER FOR CASH all right, title and interest conveyed to and now held by it under the Deed of Trust in the Lucky Dragon Hotel & Casino. The Trustee will conduct a unified foreclosure sale pursuant to the Nevada Uniform Commercial Code, which will include any and all personal property and fixtures described in the Deed of Trust and other instruments given in favor of the Beneficiary at Trustee’s sole election.
As-Is: The property is sold as is. Buyer waives disclosure requirements under NRS.
To Bid: CASH, payable at time of sale in lawful money of the United States, by cash, a cashier’s check drawn by a state or national bank, a check drawn by a state or federal credit union, or a check drawn by a state or federal savings and loan association, savings association or savings bank.