Why the
Barbary Coast Site is so Key to the Future of
Boyd Gaming
Boyd Chairman Bill Boyd said
Thursday that the Barbary Coast would make a
spectacular location for a high-rise resort.
Many have speculated
that industry kingpin Harrah's Entertainment
would do whatever it takes to acquire the property,
which lies smack-dab in the middle of its collection
of casinos near the Strip's intersection with
Flamingo Road.
Harrah's
already owns Bally's/Paris Las Vegas, the Flamingo,
Caesars Palace and Bourbon Street and has agreed
to buy the Imperial Palace.
Boyd
said his company would "never close out
the possibility" of a trade or sale of
the Barbary Coast, but that the property is
"very valuable to us. It's the most trafficked
area on the Strip. We think the possibility
of a high-rise development (makes for) a tremendous
potential for redevelopment."
Boyd's
big deal to buy locals giant Coast Casinos and
its development of the Borgata megaresort in
Atlantic City boosted the company to the casino
industry's top flight.
And
his company expects to keep growing, Boyd said.
And
don't think Boyd's plans for the Stardust will
involve a mid-market property. He said the company's
research indicates that the high-end is where
the biggest profit potential awaits.
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