Citing the economic downturn, Boyd Gaming announced that it won’t resume construction on the $5 billion Echelon resort in Las Vegas for three to five years. Work on the project has been dormant for more than a year. The company has a $2 billion credit revolver slated for Echelon that will now go toward acquisitions, according to the Las Vegas Review-Journal. In fact, Boyd has hinted at making another bid for the bankrupt Station Casinos and buying up distressed assets. Boyd Gaming’s Q3 net income dropped 27 percent, with revenue falling 6.6 percent.
Construction on Vegas’ Echelon Stalled for at Least Three Years
In the meantime, Boyd Gaming plans to make another bid for the bankrupt Station Casinos and potentially acquiring distressed assets.
Construction on Vegas’ Echelon Stalled for at Least Three Years
In the meantime, Boyd Gaming plans to make another bid for the bankrupt Station Casinos and potentially acquiring distressed assets.
