Tuesday, Sept. 6, 2005 | 11:19 a.m.
Boyd Gaming Corp. has purchased two acres of land under its Barbary Coast casino for future development.
Boyd bought two acres that the company didn't yet own and had been subject to a long-term lease. The purchase price was $15.7 million.
The company now owns all of the 4.3-acre Barbary Coast site on the corner of Flamingo Road and Las Vegas Boulevard.
The purchase "greatly expands our development possibilities on the Barbary Coast site," Boyd Gaming Chairman and Chief Executive Bill Boyd said in a statement. "While we have no plans in the near term, having full ownership of the entire property at such a premier location greatly enhances the number of development options we have when we are ready to redevelop the property."
Observers have speculated that competitor Harrah's Entertainment, which now owns all of the casinos that surround the Barbary Coast on the east side of Las Vegas Boulevard, will eventually acquire the land from Boyd to build a much larger development.
Boyd Gaming spokesman Rob Stillwell said the company isn't interested in selling and has had no discussions about a potential sale.
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