Las Vegas' Lucky Dragon Casino facing foreclosure

The Lucky Dragon Casino is pictured in this undated image (FOX5).

Documents from the Clark County Recorder's office show the Lucky Dragon Casino, which opened in late 2016, is now facing foreclosure. The update comes just weeks after the off-strip property celebrated its one-year anniversary.

Financial troubles were first made public in early January when the casino posted a sign on its door reading "Casino Temporarily Closed." Lucky Dragon management told FOX5 the casino was 'reorganizing,' and that meant less gaming and dining options and layoffs for casino workers.

"The fact that the Lucky Dragon went belly-up or had financial problems is a bit of a surprise," Stephen Miller said. Miller is a professor at UNLV and said the property faced an uphill battle from the beginning

"When I first heard about the location I'm wondering, it's up in the north end of the strip, it's not on the strip and the north end has some vacant land that maybe doesn't make it the best location," Miller said.

Miller added that there are likely other factors that led to the financial issues. He speculated the casino's extreme focus on Asian tourists could have had an impact.

"The real issue here is does an Asian or Chinese person come to Vegas to have a Chinese experience? That's maybe not the case," Miller said.

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