Per a recent report from The Nevada Independent, it would appear that Boyd Gaming has intentions of continuing its strong expansion growth in a clandestine manner on a national scale. In an interview with the Indy, CEO Keith Smart said they are “always looking for ways to expand” beyond Vegas but also noted that they have “great competence” in the region. As referenced in the report, Boyd’s Southern Nevada holding covers nine casinos, including three downtown, and properties in the valley’s populated areas, including the eastside near the strip. Moreover, Boyd has a presence in North Las Vegas, and Summerlin. However, it would appear that their competition (Red Rock) is stepping up their game in the Vegas valley which Boyd will now have to account for as they expand their national presence.
In the breakdown, SBS will be going over the latest news coming out of Las Vegas along with some other thoughts, notes, and updates about Vegas gaming.
In the third quarter of this year, almost 69 percent of Boyd’s $877 million in revenue originated from markets away from the Silver State. The corporation is looking to continue that trend. For instance, in Louisiana, Boyd is in the process of building a land-based facility for the Treasure Chest Casino outside of New Orleans, which, according to reports, will increase the scope of the gaming floor. Moreover, Boyd is also looking to expand its presence in the legal online gaming market where it has internet casinos in Pennsylvania and New Jersey.
This has been showcased in their recent business acquisitions as well. Boyd closed its $170 million purchase of Pala Interactive in early November. Pala has two revenue streams: a business that provides an online gaming platform to casino operators in legal markets, and an online casino site the company operates in New Jersey. Moreover, Boyd owns five percent of sports betting operator FanDuel and expects to generate $30 million in annual cash flow from its partnership with the company in eight states. Sky River in California is Boyd’s newest revenue stream and another showcase testament to the company’s commitment to expand beyond just Las Vegas.
Per the article from the Independent, and also mentioned in this space before, the approach for gaming expansion is different for Red Rock Resorts than for Boyd Gaming. The company, which is Boyd’s largest competitor in the neighborhood casino market, has visions of doublings its footprint in the Las Vegas Valley by 2030. Red Rock, which is the corporate parent of operator Station Casinos, owns 630 acres of developable land across Southern Nevada. However, as pointed out in the report, the under-construction $750 million Durango Station in southwestern Las Vegas is the focus and is scheduled to open late next year.
According to sources, Red Rock plans to sell nearly 190 acres around the Las Vegas Valley, including the sites of the two closed Fiesta casinos in Henderson and North Las Vegas. As mentioned in the report, in the third quarter of this year, Red Rock reported revenue of $414.4 million from its Vegas resort. However, while Red Rock is primarily housed in Southern Nevada, Boyd operates 20 regional properties in 10 states, which also includes the recently opened Sky River Casino near Sacramento, California.
Once you are all set and up to speed regarding the latest gaming news coming out of Las Vegas, make sure to check out the variety of resources that SBS has for you. Our SBS online Vegas sportsbooks guide is a must-read page for anyone looking to learn more about Sin City and also the latest news coming out of the region. Also when thinking of Vegas, it is hard to also not to think about the world of high-stakes wagering. That said, our VIP sports betting sites overview is an excellent resource for you to peruse in case you think that VIP online sports betting is for you. On a final note, if you are perhaps uncertain about which options are accepted for deposits and withdrawals, we have your back with the SBS payment methods rundown. This page lays out a ton of different resources you can use from traditional methods to crypto options.
About the Author
As a devout aficionado of sports, Chris Boline has carved a career within the athletic realm. A skilled scribe, he boasts a decade-long portfolio that encompasses coverage of the NBA G League, the Los Angeles Chargers, football in the Mountain West Conference, and basketball. Beyond his professional pursuits, Chris is deeply invested in his community and dedicates his leisure hours to serving on boards, collaborating with community organizations, and cherishing the company of loved ones.
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