Boyds Buys Cannerys

wonder if they will implement resrt fee Cannerys didn't have one http://www.fox5vegas.com/story/31812538/boyd-gaming-to-acquire-eastside-cannery-cannery-casino-hotel

 

Boyd To Acquire Cannery and Eastside Cannery

http://vegasinc.com/business/2016/apr/25/boyd-gaming-buying-cannery-casinos-in-valley-for-2/

It's a cash deal for $230M.

 

I wonder how things will play out with Sams Town and Eastside Cannery only one (although long) block away?

 

they don't have a problem with 3 downtown in 2 -3 blocks. Shuttle route could be changed to include eastside cannery

 

I always liked the Eastside Can. Felt like a Boyd's property to me!

 

Is it me or does this feel like somewhat of a steal for Boyd? 2 casinos for $230 mil? I am a fan of Boyd properties for the most part so i have no problem with this. I have never been to the Cannery and we went to Eastside Cannery for the first time in March. We really liked it, but that is another story. I dont know much about business, but does anyone else think they got a deal? Granted, $230 mil is nothing to sneeze at. Please enlighten me!

 

I thought the same at first but at the same time. Aliante alone cost more than the two Cannerys together. The price for land is going to be dramatically less off strip. And I've never been to the Cannery so I don't know if it's as nice as Eastside. If it hasn't been well maintained or if its much smaller, that may be why the two together were so cheap.

 

Boyd seems to be trying to corner the market lately.

 

I really do not know the casino business but it sounds in the ballpark when you talk about the combination of the land, the improvements, and the customer base.

Aliante is by far in the nicest neighborhood. Original Cannery has the expressway traffic and such. The Eastside Cannery is in a "changing" neighborhood but does have the synergy (to use the buzzword-compliant term) of the Boulder Strip properties and the Boulder Highway traffic.