Impact on Las Vegas casinos after opening of Lucky Dragon Hotel & casino

By | November 28, 2016

Impact on Las Vegas casinos after opening of Lucky Dragon Hotel & casinoLas Vegas is one of the most lucrative casino destinations in the world. Millions of visitors from all across the world visit Vegas every year for gambling.

The visitor number sometimes gets up and sometimes it gets a bit down, but ultimately it is all about gambling at the strip.

You do know that at least four casino resorts of Las vegas have been closed after 2014 including Trump Taj Mahal because of corruption and protest.

But besides the closing of these four casinos, some new casinos have also been hit at the strip such as Lucky Dragon, an Asian theme casino to attract players from China and other developing Asian countries.

The Lucky dragon casino can give tough fight to some already operational Las Vegas Casinos such as Wynn Resorts, Las Vegas Sands, Caesars Palace, Hard Rock, Aria, and Bellagio, because a good percentage to theses casinos are from Asian countries.

The Lucky Dragon Hotel & Casino will open on December 3, 2016. The nine floor  hotel features 204 rooms and  27,500-square-foot casino.

MGM, Sands and Wynn Resorts are a few casinos who have made the most of the china’s decision to legalize gambling in Macau and they have capitalized it as well.

According to their earnings reports MGM has made 20 percent of net revenue from Macau, Sands casino has made 57 percent net revenue from its Macau centre and Wynn has received a share of 62 percent in its third quarter.

That means most of these casinos operating either in Las Vegas or in Macau are based on wealthy Asian players and hence opening of new casino places such as Lucky Dragon especially for Chinese VIP players will definitely make an impact.

Chinese gamblers love to play roulette, high rollers and baccarat and according to revenue reports baccarat generated almost $1.3 Million at Las Vegas casinos in 2015, while Blackjack revenue to the Vegas casinos were just $837,000 in the same year.

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