Thursday, April 21, 2016

Boyd buys Aliante

Boyd Gaming is expanding their reach in the Las Vegas locals market as they have agreed to purchase Aliante Casino and Hotel for $380 million.

Boyd seems to be in a buying mood as they are also rumored to be nearing a deal to purchase Cannery Casino Resorts which would give them even more Las Vegas locals exposure.

Las Vegas locals is Boyd's bread and butter so these deals make perfect sense.  Is too much of Boyd's revenue is concentrated in one market though?  I wonder if Boyd will be looking to acquire more properties outside of Vegas.

Boyd still doesn't have a property on the Strip though after abandoning the Echelon Place development a number of years back.

It's interesting that Boyd at one point was set to open a multi-billion dollar resort complex on the Strip, and now they're reduced to buying Aliante and Cannery.