Boyd Gaming Shuts Down Las Vegas Casino Project

The economy is not only hurting casinos that already exist, but it is also having a big impact on casino projects of the future. Boyd Gaming Corp. is the latest casino developer hit hard by the economy.

The company has announced that they are suspending their latest casino project in Las Vegas. It is expected that they will be shutting down the project for nine months to a year.

The tight economy is the direct reason why the company has had to slow its project. The Echelon was a $4.8 billion project and joins some other big expansion projects that have been shelved due to a sagging economy.

The company has had trouble securing financing for some important parts of the project and now must wait out the economy before moving forward. If credit market conditions improve, the company plans to once again begin work on the project in three to four quarters.

The Echelon was set to have 5,000 guest rooms, 750,000 square feet of meeting space, and a 140,000 square foot casino. Two theatres were also planned for the project.

This is just the latest setback for Boyd. They have already stopped several other casino projects due to the lack of funding.

August 3, 2008
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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