Boyd Gaming bought the previous Eastside Cannery Casino website in Las Vegas final week. Developers count on to show it into a brand new housing growth.
Boyd bought the 29.5-acre property for $28.8 million to a New York funding agency. That firm will then grant an choice to Lennar Corp. to acquire the property, in keeping with the Las Vegas Review-Journal.
Investment corporations typically buy land for builders. The land bankers then promote tons to the builders when they’re prepared for development.
Lennar plans to assemble a subdivision on the previous residence of Eastside Cannery Casino. Officials closed the on line casino in 2020 amid the COVID-19 pandemic. They demolished it in March.
Clark County commissioners authorised a plan for 279 two-story, single-family houses on the location situated alongside Boulder Highway in jap Las Vegas Valley. Then growth contains two parks and strolling trails. Boyd took a big loss on the sale after buying the land in 2025 for $45 million.
Other Recent Las Vegas Casino Deals
While Boyd bought land from a shuttered on line casino, executives of one of many bigger on line casino corporations determined to dump their Las Vegas Strip actual property. Just earlier than the beginning of the COVID-19 pandemic, MGM Resorts started its “asset-light” technique.
The technique concerned promoting the land its casinos sat on. They bought their Las Vegas casinos to Blackstone and MGM Growth Properties. As a consequence, they operated the properties and paid hire to the brand new homeowners.
Other Las Vegas-area on line casino and land offers made information in latest months. In July, commissioners authorised a resort and on line casino on the south finish of the Strip throughout from Mandalay Bay.
The former Poker Palace, renamed Club Fortune Casino North, reopened in July after closing in 2025. The property was acquired and renovated by Truckee Gaming. The poker site didn’t return.
In close by Primm, Nevada, town’s casinos had been set to shut this yr. However, gasoline station and on line casino operator Terrible’s later stepped in to take over the properties. The transfer stored open a number of casinos situated on the border with California and saved greater than 300 jobs.
