Boyd Gaming to Sell Eldorado Casino to DeSimone Gaming
DeSimone Gaming is buying the Boyd Gaming Corp. owned Eldorado Casino sign at 140 S. Water St. and Henderson, which will be changing hands soon, as per David Strow, Boyd spokesman. The organization is not releasing the terms as per the transaction. Strow said that the Eldorado casino was a modest part of their overall business growth, and being a non-essential asset, they planned on selling it to DeSimone Gaming, as he informed Review-Journal through an email.
Boyd Gaming had been operating since 1962 and had to close mid-March to limit the coronavirus pandemic’s spread as per the state orders. Strow did not respond to how the business changing hands will affect the staff members or sell any more assets. Boyd’s other assets, like the Las Vegas Eastside Cannery casinos and Boyd’s Main Street Station, remain closed. Keith Smith, Boyd President, and CEO may reopen Main Street Station, depending on the business operations’ performance, after a talk with investors in October.
Boyd’s portfolio’s Eldorado casino, which offered slots-only, situated at Henderson was the only asset detached from his other assets, as per Josh Swissman, the Strategy Organization’s founding partner, which is a consulting firm of the Las Vegas hospitality and gaming effort. Eldorado casino was not a fully operational property in comparison to the other properties that they owned. As per the info from fillings with the U.S. Securities and Exchange Commission, the casino had a gaming space of 17,756 square feet. There was no hotel facility attached to the operating casino, though it did offer sportsbook and dining options. The Eldorado casino is not a part of the former Eldorado Resorts Inc., which is now known as Caesars Entertainment Inc. Boyd Gaming is capable of retaining and sustaining a handsome slice of their gaming and database revenue. They need not worry about the shuttered properties that are operating all over the town. Boyd’s presence in Las Vegas minus Main Street Station accounted for $171 million in earnings in revenue, including the shuttered properties as Eastside Cannery and Eldorado, in the third quarter, which is 20% lower than last year. DeSimone taking over the Eldorado casino may spell out redevelopments of the Water Street District and increase collaboration possibilities for the Henderson gaming operator, as per director of government affairs, Brendan Bussmann, of the Global Market Advisors.