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Hypothetical Q on South Point

Discussion in 'Misc. Vegas Chat' started by leo21, Oct 29, 2015.

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  1. leo21

    leo21 VIP Whale

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    I was in South Point over the weekend and was struck at the similarities to Orleans: Oyster bar, prime rib restaurant and steakhouse, etc, etc. I remembered that South Point opened as South Coast. I then remembered when it got sold - while Boyd was still trying to build Echelon.

    We always blame Echelon for the closing of the Stardust. However, no one ever seems to blame Echelon for the sale of South Coast. So, my hypothetical question is this: Would Boyd still own South Coast if they hadn't gone into Echelon? Or would they have still be scared off by the slow business at opening in a weak economy and dumped it anyway?


    (Sorry in advance if this is the wrong forum)
     
  2. SH0CK

    SH0CK Stylin' and Profilin' Quasi Tech Admin

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    Michael Gaughan (Jackie's son) is the owner of South Point. If I remember my history correctly, he sold Coast Casinos to Boyd Gaming for $1.3 billion and worked for them for a couple of years.

    I'm assuming he got tired of not being the boss and made an offer to take over the South Coast not that long after it opened. South Coast cost $600 million to build and Gaughan purchased it for $576 million. I think, basically, Boyd used the proceeds of the sale to keep the Echelon ball rolling.

    I think the 2 are connected, but it's more in line with something that Gaughan wanted to do and Boyd got some of their money back from the Coast purchase.
     
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