Boyd Gaming reaches agreement for Eldorado Casino sale

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Boyd Gaming reaches agreement for Eldorado Casino sale

Boyd Gaming is set to sell the Eldorado Casino in Henderson, Southern Nevada, according to a spokesman for the company.

As reported by the Las Vegas Review-Journal, the land-based casino operator has reached an agreement to sell the Eldorado Casino to DeSimone Gaming for an undisclosed fee.

DeSimone Gaming owns the Railroad Pass Hotel, Casino and the Travel Center which are also both in Henderson.  The company’s owner Joe DeSimone purchased the Railroad Pass Hotel from MGM Resorts in 2015.

A statement, emailed by David Strow, Boyd spokesman, said: “The Eldorado was a non-core asset to our company, and as we have continued to grow over the years, this property represented a very modest part of our overall business.”

The Henderson-based casino has not opened since the state was ordered to lockdown in March as a result of the COVID-19 pandemic. Eastside Cannery and Main Street Station are Boyd’s only other properties not to reopen following the March shutdown.

According to a statement from DeSimone, the company aims to reopen the Eldorado Casino in spring 2021, subject to gaming approval.

Boyd Gaming has had a turbulent year as a result of the COVID crisis. In the last reported quarter, the company saw $652.2m in revenue for Q3, a drop of 20% year-on-year.

The company’s revenue for the first nine months of 2020 was $1.5bn, a drop of 40% from 2019 levels.

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