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Savvy businesspeople missed the mark with Lucky Dragon

It’s hard to imagine that someone as smart as William Weidner, former president and chief operating officer of Las Vegas Sands and one of the backers of the Lucky Dragon, could have been so wrong about positioning the off-Strip casino that closed its doors Jan. 4 and faces a foreclosure auction on Feb. 6.

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When Las Vegas-based Golden Entertainment closed on its $850 million deal to acquire American Casino and Entertainment Properties, whose four casinos included the Stratosphere with its 1,149-foot tower and 2,427 rooms, Chairman and CEO Blake Sartini was ecstatic about acquiring a property on “the Strip.”

Las Vegas is an ideal base camp for outdoor adventure

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Investor still pursues distressed Las Vegas real estate

After the real estate market crashed last decade, investors swooped in for the leftovers. They bought cheap houses in bulk to turn into rentals and snapped up abandoned projects at steep discounts.

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