[toc]Usually, a casino views remodeling within six months post-opening as a major issue. However, Lucky Dragon Casino in Las Vegas, Nevada is thrilled to rearrange its layout. This decision by the management is to accommodate the surprising influx of VIP players patronizing the property.
VIP gaming space expanding on the second floor
The Lucky Dragon casino is set to move one of its restaurants, Pearl Ocean, downstairs to the first floor. This move is to accommodate the high stakes players who prefer to play in private spaces within the casino. Chief Operating Officer of Lucky Dragon, Dave Jacoby, explained the reasoning behind this shift to the Los Angeles Times.
“We have discovered that we’re conducting more business with high-end clients than we initially expected. This has led to a heightened emphasis on ensuring we allocate sufficient resources to this sector.”
In the meantime, the fast-food restaurant Dragon’s Alley located on the first floor will shut down to accommodate the renovations. The intention is to reopen it as a more compact noodle bar at an unspecified future date.
Jacoby asserts that the casino remains committed to attracting Asian customers from all economic strata. However, the recent initiatives suggest a shift in focus from low stakes players towards enhancing the property’s appeal to high-end clientele.
Baccarat the main driver of VIP casino customers
Baccarat is the preferred game among the Lucky Dragon High Rollers. This card game has always enjoyed immense popularity in Asian communities. Hence, it’s not surprising that the game was highly sought after at the boutique casino.
Based on the numbers, the casino isn’t luring away current baccarat players. There was a significant increase in the casino’s baccarat earnings in Nevada in January, with a 55.1 percent rise from January 2017, totaling $157.9 million. The overall baccarat volume also increased, reaching $935.6 million.
The surge, to some extent, can be credited to the timings of the Chinese New Year. The annual celebration commenced in January this year, contrasting with 2016 when the festivities started in February.
The Nevada Gaming Control Board (NGCB) considered the increase in baccarat to be good news.
“Over the last 25 months, we’ve only witnessed five increases in baccarat volume. Honestly, it’s been challenging. The volume hasn’t seen much growth recently,” Michael Lawton, a senior research analyst, said in an interview with the Las Vegas Sun.
Casino revenues in the Silver State experienced nearly a universal increase in January, with gaming revenue exceeding $1 billion.
Lucky Dragon’s appeal to Asian customers paying off
Lucky Dragon, situated just off the Las Vegas Strip on Sahara Avenue, often sees a significant number of Asian-American visitors. Before its opening, Jacoby anticipated that the casino’s customer base would comprise ten percent of visitors directly from Asia.
The introduction of direct flights from Beijing by Hainan Airlines has drawn in some customers. In an interview with the L.A. Times, Jacoby mentioned the VIP clientele’s appreciation for staff who speak their native languages.
Another unique cultural attraction that Lucky Dragon offers, which is hard to find in other casinos, is its comp program. The establishment utilizes a rolling chip loyalty program. In this program, a player’s win/loss rate is determined by the amount they buy-in for, rather than the amount they win.
Jacoby explained to Seven Magazine, “If you buy in for $100,000, you get $100,000 in dead chips. You bet what you bet. If you win, we pay in live chips that can be played elsewhere or redeemed for cash, and we take your dead chips. It ends up being a perfect accounting process.”
The clear comp program, the welcoming environment that allows players to converse comfortably in their native languages, and the baccarat options are all factors contributing to Lucky Dragon Casino establishing its place in the highly competitive Nevada casino industry.
