Post by Logan on Apr 26, 2016 1:12:14 GMT -6
Las Vegas-based Boyd Gaming has acquired Cannery Casino Resorts LLC and its two Southern Nevada hotel-casino properties for $230 million.
The deal was announced by the company Monday. There had been speculation about the transaction Wednesday when Reuters reported a deal was close to fruition, but Boyd officials would not confirm it when queried.
The acquisition of the Cannery in North Las Vegas and the Eastside Cannery on Boulder Highway along with the $380 million purchase of the Aliante Hotel in North Las Vegas will increase Boyd’s presence to 12 properties in Southern Nevada.
“This transaction is a great tuck-in acquisition that further expands our presence in the Las Vegas locals market at an attractive price,” Keith Smith, president and CEO of Boyd Gaming, said in a statement announcing the transaction. “Together, Aliante and Cannery Casino will give us a strong foothold in North Las Vegas, one of the fastest-growing areas in the Las Vegas Valley. And, we will have unique synergy opportunities at Eastside Cannery, given its close proximity to Sam’s Town.”
Read more: www.reviewjournal.com/business/boyd-acquires-cannery-properties-230m
The deal was announced by the company Monday. There had been speculation about the transaction Wednesday when Reuters reported a deal was close to fruition, but Boyd officials would not confirm it when queried.
The acquisition of the Cannery in North Las Vegas and the Eastside Cannery on Boulder Highway along with the $380 million purchase of the Aliante Hotel in North Las Vegas will increase Boyd’s presence to 12 properties in Southern Nevada.
“This transaction is a great tuck-in acquisition that further expands our presence in the Las Vegas locals market at an attractive price,” Keith Smith, president and CEO of Boyd Gaming, said in a statement announcing the transaction. “Together, Aliante and Cannery Casino will give us a strong foothold in North Las Vegas, one of the fastest-growing areas in the Las Vegas Valley. And, we will have unique synergy opportunities at Eastside Cannery, given its close proximity to Sam’s Town.”
Read more: www.reviewjournal.com/business/boyd-acquires-cannery-properties-230m