Visas for Dollars: Backers of Failed Vegas Casino May Lose Both
- Foreigners provided $98.5 million, were promised residency
- It’s the second failed casino project tied to visa program
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The Lucky Dragon casino in Las Vegas was pitched to foreign investors as a way to make money and score permanent residence in the U.S., but the now bankrupt project could leave them with neither.
The $165 million resort, which opened in November 2016, was billed as the first Las Vegas casino designed specifically for Asian customers. It was built, in part, with $98.5 million from 179 foreign investors, who backed the project under an immigration program, known as the EB-5 visa, that lets immigrants who create jobs in the U.S. stay here permanently.