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|Las Vegas Changes and Acquisitions
Boyd casinos in southern Nevada now at 12
Las Vegas Purchases and Expansions: Boyd Gaming has purchased Aliante Casino
and Hotel for $380 million. Station Casinos spent $662 million to build Aliante, which
opened in 2008. Boyd has also purchased the Cannery and Eastside Cannery for $230
million. The Cannery opened in 2003 at a cost of $100 million and ECan opened in 2008
for $250 million. Adding the Cannerys and Aliante brings the number of Boyd casinos in
southern Nevada to 12. Work begins this month on a $154 million expansion of the Aria’s
convention area, which will blend the Cirque du Soleil theater into the existing convention
space. MRI has also completed a $1.08 billion sale of the Crystals to Invesco Real Estate
and Simon Property Group.
Palms Sold: The Palms has been sold to Station Casinos. Other than the general
announcement, which included the sale price of $312.5 million, very little additional
information has been released. The deal is expected to close later this year and it’s likely
that the name will be unchanged given the strong brand recognition of the Palms.
Lucky Dragon Resort: Following reports of funding problems for the nearly completed
hotel-casino on W. Sahara near the Strip, the development company behind the resort
now says that financing is in place that will allow it to open before the end of this year. The
unique project is being billed as the “first casino resort to deliver an authentic Asian
lifestyle experience” in Las Vegas.
Lucky Dragons’ distinctive features will include signs in Chinese first and English second,
multilingual staff members, and a high-end tea garden.
Conversions and Closures: The casino portion of the off-Strip Westin is closing.
Known as Max Casino as a nod to the property’s former incarnation as the Maxim, the
machines and tables will be removed to make room for a new restaurant. It’s expected that
the William Hill race and sports book there will also close. The former Barcelona Casino
in North Las Vegas has been converted to Siegel Slots and Suites.
At the Maxim, the machines and tables will be removed to make room for a new restaurant.
It’s expected that the William Hill race and sports book there will also close. The former
Barcelona Casino in North Las Vegas has been converted to Siegel Slots and Suites.