Boyd Gaming has signed an agreement to acquire Aliante Casino Hotel and Spa’s holding company Alst Casino Holdco in US for $380m.
The resort-style casino and hotel Aliante was opened in 2008 at a cost of over $660m and offers gaming, dining, entertainment and retail.
Boyd Gaming president and CEO Keith Smith said: “Aliante is an asset without rival in the North Las Vegas market, strategically positioned to benefit from substantial future growth across the northern part of the Las Vegas Valley.
“This acquisition will further strengthen and diversify our robust Las Vegas portfolio, the fastest-growing segment of our business.”
Aliante CEO Soohyung Kim said: “It has been an honor to be part of the rebirth of Aliante Casino from a difficult restructuring to this excellent outcome for all stakeholders.
“The future of North Las Vegas is brighter than ever, and we expect that Aliante will continue to be mainstay of our community.”
Aliante features an 82,000ft² gaming floor and more than 200 luxury hotel rooms and suites, restaurants, 170-seat race and sports book, a 16-screen movie theater complex, 14,000ft² of event and banquet space, a spa, a pool and outdoor lounge area.
The property will be Boyd Gaming’s first property in North Las Vegas, and tenth property in southern Nevada in US.
The transaction is expected to close during the third quarter of 2016.