Boyd Gaming Reaches Agreement to Sell Eldorado Casino

Boyd Gaming is expected to sell Eldorado Casino in Henderson, southern Nevada, according to a company spokesman.

As reported by Las Vegas Review-Journal, the land-based casino operator reached an agreement to sell Eldorado casino to DeSimone Gaming for an undisclosed fee.

DeSimone Gaming owns the Railroad Pass Hotel, a casino and travel center, also located in Henderson. Owner Joe DeSimone purchased the Railroad Pass Hotel from MGM Resorts in 2015.

An emailed statement from David Strow, a Boyd spokesman, states: "The Eldorado has not been our core asset, and as we've grown steadily over the years, this property has been a very modest part of our overall business."

The Henderson-based casino has not opened since a shutdown order was issued in March in the wake of the COVID-19 pandemic. Eastside Cannery and Main Street Station are the only other Boyd properties that cannot reopen after closing in March.

According to DeSimone's statement, the company intends to reopen Eldorado's casino in spring 2021, subject to gaming approval.

Boyd Gaming has had a tumultuous year in the wake of the COVID crisis. In the last reported quarter, the company posted $ 652.2 million in third-quarter revenue, down 20% year-on-year.

The company's revenue for the first nine months of 2020 was $ 1.5 billion, down 40% from 2019 levels.

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