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Harrahs and Boyd Gaming to Swap Rio for Barbary Coast

By Chuckmonster on Wednesday, 5th July 2006 10:53pm
  » filed under Las Vegas  comments: 0

   

Just in time for Harrah's Flamingo/Harrahs LV/Imperial Palace announcement comes this motherload of a rumor from the Las Vegas Business Press (which is historically spot on with their advance reporting). It seems that Harrah's and Boyd Gaming are working out a major major casino swap - Harrah's to offer up the Rio & maybe more in exchange for the cornerstone of their new project Barbary Coast.

...Harrah's Entertainment might be positioning itself for a property swap with Boyd Gaming Corp. The land desired by Harrah's would be the 4.3 acres located on the NE corner of Flamingo Road and Las Vegas Boulevard, where the Barbary Coast stands. In exchange, Harrah's would offer up the Rio Suite Hotel & Casino, cash, and a casino to be named later (Westward Ho, anyone?).

Harrah's does not own the Westward, Ho! site... for this to happen Harrah's would have to buy it out from current owners, then flip it over to Boyd Gaming. Doubtful, but possible... Harrah's has deep pockets. - Ed

The acquisition would give Harrah's, owners of Caesars Palace and Bally's Las Vegas, full control of three of the four corners at one of the busiest gaming intersections in the world. Although it takes a few years for trades to be analyzed, Strip Tease likes Boyd as the immediate winner. The Rio site would give it 88 1/2 acres, a lot of it undeveloped, next door to its Gold Coast Hotel & Casino, and The Westward Ho site would give it 14 acres next to the $4 billion Echelon Place that will Boyd is scheduled to build where the Stardust now resides.

Harrah's announcement of future plans for the Flamingo/Harrah's Strip will take place after their board of directors meeting in the next few weeks. We expect the shit to hit the fan before August 1.



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