Casino operator Boyd Gaming announced this week that it has signed an agreement to sell Eldorado Casino in Henderson, southern Nevada.
The company will download the gaming venue to DeSimone Gaming for an undisclosed amount. A spokesperson confirmed the deal but did not reveal additional details about it.
Eldorado Casino will be DeSimone Gaming’s second property in Henderson. Currently, the company owns the Railroad Pass Hotel, Casino & Travel Center, known for being the oldest operating casino in the city.
After selling Eldorado Casino, Boyd will own 11 gambling venues in Nevada. The Henderson Downtown Casino is one of three Boyd properties that they have not resumed their operations since the state closure of casinos and other non-essential businesses that went into effect in March as part of Nevada’s efforts to curb the spread of the coronavirus. The company’s other casinos that have yet to reopen are Eastside Cannery Casino-Hotel and Main Street Station Casino, Brewery & Hotel, both located in Las Vegas.
In August, Boyd submitted documentation to the Henderson City Council to extend the temporary closure of Eldorado until June 2021 citing the Covid-19 pandemic and its negative impact. The company teamed up with rival casino operator Station Casinos to put its gaming license on non-operational status until mid-2021.
During an October earnings call with investors, Keith Smith, president and CEO of Boyd Gaming, said the company would likely reopen Main Street Station and Eastside Cannery first and then Eldorado, but the properties will reopen “It will depend on how the business flows.”
A nonessential asset
A Boyd Gaming spokesperson said the company decided to sell the property because it was “A nonessential asset.” Additionally, he noted that because Boyd has “continued to grow over the years, this property represents a very modest part of our overall business.”
Things were completely different for Eldorado Casino once. In fact, it was the first property in Boyd Gaming’s portfolio. Company founder Sam Boyd partnered with his son Bill in the early 1960s to buy the Wheel Casino in Henderson and change the name to Eldorado.
The property has more than 17,756 square feet of playground. It has slot machines, sports betting, and dining optionsbut it doesn’t have a hotel attached. DeSimone Gaming said it would likely reopen the casino in the spring of 2021.
While the new owner of Eldorado Casino was unable to share details about his plans for the downtown Henderson venue, he said it is “Extremely optimistic” about the development of that part of the city, suggesting that its new addition could be part of that development.