Boyd Gaming, according to a company spokesperson, is expected to sell the Eldorado Casino in Henderson, Southern Nevada.
The land-based casino operator has entered into an agreement to sell the Eldorado Casino to DeSimone Gaming for an undisclosed fee, according a report in the Las Vegas Review-Journal.
The Railroad Pass Hotel, Casino and Travel Center, which are both both in Henderson, are owned by DeSimone Gaming. Joe DeSimone, the company’s owner, bought the Railroad Pass Hotel from MGM Resorts in 2015.
A statement, emailed by Boyd spokesman David Strow, said: “The Eldorado was a non-core asset to our company, and as we have continued to grow over the years, this property represented a very modest part of our overall business.”
Since the state was ordered to lock down in March as a result of the COVID-19 pandemic, the Henderson-based casino has not opened. Following the March closure, Eastside Cannery and Main Street Station are Boyd’s only other properties not to reopen.
The company plans to reopen the Eldorado Casino in spring 2021, subject to gaming approval, according to a statement from DeSimone.
As a result of the COVID crisis, Boyd Gaming has had a tumultuous year. In the last reported quarter, the company saw $652.2m in sales for Q3, a decrease of 20 percent year-on-year.
For the first nine months of 2020, the company’s revenue was $1.5bn, a decrease of 40 percent from 2019 levels.