Boyd Gaming has announced it is purchasing the Aliante Hotel in North Las Vegas for $380 million. Rumours are also circulating online that Boyd is close to announcing the purchase of Cannary Resorts for about $240 million. These two acquisitions would give Boyd more market share in the Las Vegas locals market and allow the company to add the newly acquired properties to its existing systems.
With the prospective purchase of Cannary Resorts, Boyd would gain a foothold in the north part of the city, while also adding a property next door to its Sam’s Town property. The situation with Sam’s Town and Eastside Cannery would be similar to Texas Station and Fiesta Rancho, which are also next door to each other while both being owned by Station Casinos.
Las Vegas-based Boyd Gaming Corp. on Thursday announced it has a deal to acquire the holding company for Aliante Hotel in North Las Vegas. The acquisition of the holding company, ALST Casino Holdco LLC, is for $380 million cash, according to a statement. The hotel had been rumored to be on the market for several weeks.
Boyd Gaming Corp. will get its first North Las Vegas casino and enhance its “locals” business with the purchase of Aliante Casino Hotel and Spa. Boyd agreed to buy Aliante’s holding company, ALST Casino Holdco LLC, for $380 million. Aliante, which cost more than $660 million and opened in 2008, is located in the Aliante planned community….
Casino operator Boyd Gaming Corp is close to an agreement to buy Cannery Casino Resorts LLC, in a deal that will value the privately held U.S. company at between $225 million and $240 million, according to people familiar with the matter.