Boyd Gaming will demolish its Eastside Cannery on line casino in Vegas and promote the location for residential housing. [Image: Shutterstock.com]
Boyd Gaming has introduced it is going to demolish its Eastside Cannery On line casino-Lodge on Boulder Freeway and promote the location for residential housing.
Whereas Eastside has remained shuttered since COVID-19 struck in March 2020, the transfer to repurpose the land for city housing represents a pivot away from Las Vegas-based Boyd’s conventional on line casino/resort improvement, possession, and acquisition technique.
X consumer @GabuTheLVDon posted a picture of the destruction-earmarked casino-hotel, including: “You by no means know what you’ve bought until it’s gone on this city:”
The Nevada Impartial cited Boyd spokesperson David Strow stating the agency was finalizing plans to ship within the wrecking gear as a result of there was “not enough market demand” to reopen the Boulder Strip casino-resort.
stated it could be fenced off from Friday morning
Strow confirmed his agency’s actual property plans for the property and stated it could be fenced off from Friday morning.
Half a mile down the street, Boyd’s Sam’s City On line casino has absorbed a lot of Eastside’s clientele since 2020, the agency said. Regardless of renewing the latter’s gaming license in 2024, Boyd has lastly ended its wait-and-see interval.
Whereas there may be, in accordance with investor media, a rising pattern in Vegas and Nevada to diversify the financial system past tourism by creating mixed-use areas corresponding to sustainable city housing, the pivot to this marketplace for Boyd represents a big strategic departure, and a big gamble.
Melbourne-based monetary information analyst Meyka said that, whereas traders might even see a possibility in Boyd’s residential pivot according to Vegas’ financial diversification methods, the agency should additionally: “navigate zoning legal guidelines, environmental assessments, and group engagement processes to efficiently execute its imaginative and prescient.”
