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Boyd Trades Strip Stake for Land

LAS VEGAS-In a tax-deferred exchange, Boyd Gaming Corp. trades its ownership of the Barbary Coast Hotel and Casino for 24 contiguous acres of Las Vegas Strip property.

By Daniel D. Williams | Updated on February 27, 2007

LAS VEGAS-Boyd Gaming Corp. has closed on its deal to trade out of its ownership of the Barbary Coast Hotel and Casino for 24 contiguous acres of Las Vegas Strip property. Boyd, through its subsidiary, Coast Hotels and Casinos Inc., made the trade with Harrah’s Operating Co. Inc.

In effect, Harrah’s takes on the Barbary, with Boyd landing the site north of its Echelon Place development site. According to company officials, the company will begin construction of Echelon in the second quarter 2007, with a planned third quarter 2010 opening.

The 24 acres will bring Boyd’s holdings to 87 contiguous acres in the center of the north corridor of the Las Vegas Strip. According to company officials, “the additional land allowed us to modify the site layout of Echelon Place. These modifications increased the overall size of the project to 65 acres.”

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