The 201-room Cannery, located near Interstate 15 and Craig Road, opened in early January 2003. The properties are being acquired with cash on hand. Boyd executives are expected to talk about the deal in greater detail when the company announces its first-quarter earnings today.Ĭompany officials said the acquisition would be cash-flow positive and accretive to earnings per share in its first full year of ownership. The transaction will require the approval of the Federal Trade Commission and the Nevada Gaming Commission and is expected to close in the third quarter. Smith said it made sense for the company to broaden its Southern Nevada portfolio considering the company’s strongest revenue growth has occurred in the state over the last two years.īoyd also has properties in Illinois, Indiana, Louisiana and Mississippi and is a partner with MGM Resorts International in the Borgata in Atlantic City. And, we will have unique synergy opportunities at Eastside Cannery, given its close proximity to Sam’s Town.” “Together, Aliante and Cannery Casino will give us a strong foothold in North Las Vegas, one of the fastest-growing areas in the Las Vegas Valley. “This transaction is a great tuck-in acquisition that further expands our presence in the Las Vegas locals market at an attractive price,” Keith Smith, president and CEO of Boyd Gaming, said in a statement announcing the transaction. The acquisition of the Cannery in North Las Vegas and the Eastside Cannery on Boulder Highway along with the $380 million purchase of the Aliante Hotel in North Las Vegas will increase Boyd’s presence to 12 properties in Southern Nevada. There had been speculation about the transaction Wednesday when Reuters reported a deal was close to fruition, but Boyd officials would not confirm it when queried.

The deal was announced by the company Monday. Bizuayehu Tesfaye/Las Vegas Review-Journal Follow Vegas-based Boyd Gaming has acquired Cannery Casino Resorts LLC and its two Southern Nevada hotel-casino properties for $230 million.

company at between $225 million and $240 million. is close to an agreement to buy Cannery Casino Resorts LLC, in a deal that will value the privately held U.S. The Cannery hotel-casino is shown Wednesday, April 20, 2016.

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