David Jacoby

Lucky Dragon Hotel and Casino

When the Lucky Dragon Hotel and Casino opened in December 2016, it became the first brand new gaming property to open in Las Vegas in the last six years.

It is also the first fully Asian-themed property in the city, with signs in Chinese above the English.

All the food outlets are a variation on Chinese/Asian cuisine, and the vast majority of the table games are baccarat.

David Jacoby has been involved with the development for more than six years, and explains the concept and reasoning behind the property.

He spoke with GGB Publisher Roger Gros in his offices at the Lucky Dragon in January.

For a full podcast of the interview

GGB: This is an interesting property, and it’s been in the works for quite some time.

Tell us how it was brought from concept to reality.

David Jacoby: About 2012, I really started in earnest working on Lucky Dragon.

The early days were a lot of site prep; the site here was initially five separate parcels, with a city road running through it, and each parcel had different easements.

That was a whole process, getting the land prepped for vertical development.

And we spent some time putting together an entity that helped raise funds overseas for the projects,

So getting that all set up, licensed and ready to go took quite a bit of time early on.

Who are the owners of the property? The owners are the Weidner and the Fonfa families—Bill Weidner is the patriarch of the Weidner family; he was the chief operating officer of Las Vegas Sands for several years, and now is also the CEO of Global Gaming Asset Management.

David Jacoby Chief Executive Officer His eldest son, James Weidner, is the lead on Lucky Dragon for the Weidner family.

Andrew Fonfa has been a successful real estate developer of many different asset types throughout the Vegas area for more than 30 years.

Notably and recently, he built the Allure condominium tower, which is immediately adjacent to Lucky Dragon. This is the first completely Asian-themed property in Vegas.

Give us an idea of what your target market is.

When we looked at the Vegas market, we saw a select few properties that do a very good job at catering to ultra-high-level Asian players.

Alternatively, we saw a few properties that do an OK job at providing opportunities for the kind of grind local play.

There was not much in the middle. So, that was the space we sought to fill, and are filling now.

We look at our core customers as the local Asian population and the regional Asian population.

So, a lot of California, Vancouver, Seattle, Toronto, New York, Houston and other major metro areas within

David Jacoby Chief Executive Officer The U.S. We’re seeing a good amount of overseas Chinese play, and broader Asian play as well.

The inaugural direct flight on Hainan Airlines from Beijing to Las Vegas just fortuitously happened to line up as one day prior to our grand opening.

When we looked at the Vegas market, we saw a select few.

Properties that do a very good job at catering to ultra-high-level Asian players.

Alternatively, we saw a few properties that do an OK job at providing opportunities for the kind of grind local play.

There was not much in the middle. So, that was the space we sought to fill, and are filling now.

We look at our core customers as the local Asian population and the regional Asian population.

So, a lot of California, Vancouver, Seattle, Toronto, New York, Houston and other major metro areas within the U.S. We’re seeing a good amount of overseas Chinese play, and broader Asian play as well.

The inaugural direct flight on Hainan Airlines from Beijing to Las Vegas just fortuitously happened to line up as one day prior to our grand opening.

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