Vol. 4, No. 5, May 2008
RSS Feeds
Boyd Buys Into Development
Just as Station Casinos has tied the prospects for Aliante Station to the growing Aliante community, Boyd Gaming Corp. is also teaming up with a land developer to build a casino as part of a master-planned community.
Boyd announced it will partner with Olympia Group to develop a casino in the Park Highlands community in North Las Vegas. The casino will be jointly owned by Boyd and Park Highlands.
Boyd purchased a site in North Las Vegas in 2006 where it planned to build a casino called North Coast, but the new opportunity is better for the company because it's in a busier commercial zone and closer to housing.
“Forming a joint venture with one of the prominent land developers in the Las Vegas Valley adds another dimension to our long-term growth pipeline, giving us the opportunity to expand our locals franchise as part of a larger commercial project located in one of the fastest-growing areas in the Las Vegas Valley,” said Keith Smith, Boyd Gaming president and CEO. “We envision this property will become the hub of Park Highlands, providing residents with a wealth of entertainment options in a complex designed to have minimal impact on nearby residential areas.”
There is no zoning approval for gaming as part of the development, and it may take some work to acquire it. North Las Vegas has expressed reluctance for approving any more casino developments.
Some think if Boyd agrees to sell its other casino site to a nongaming developer it may be able to avoid any difficulties.
