Seems to be the summer of buying and selling casinos. Just only a day after we announced the Cannery Casinos were going to be sold to Boyd also, Boyd Gaming has agreed to buy Aliante Casino for the grand total of $380 Million. Boyd says it will fund the transaction with cash on hand and expects the deal to be complete by sometime in Q3 2016.
Aliante was created by Stations Casino in 2008 and cost almost double the buying price to develop. At $660 Million it was a huge loss for Stations Casino which then filed for Bankruptcy a year later partially because of this disaster and partially because of the economy. Additionally, most people in and outside of Las Vegas, are not even aware the casino exists.
This becomes Boyd’s 10th property in Nevada, signaling that they are heavily investing in local gaming and entertainment. The Aliante is located way off the strip in the less-affluent North Las Vegas. However with new developments including the announcement of a major electric car company being launched in North Las Vegas, it has been attracting more and more attention as a place to live.
