Las Vegas Commercial Real Estate

Harrah’s Entertainment recently announced that it will trade 24 acres on the Las Vegas Strip it is acquiring for Boyd Gaming’s Barbary Coast Hotel and Casino. The property Harrah will buy is north of Boyd’s 63-acre Echelon Place site.

As a result of this transaction, Boyd will acquire 87 adjoining acres on the strip. What does Harrah gain? They move one step closer to controlling a contiguous block of real estate on the east side of the Las Vegas Strip. The transaction is expected to close in the first quarter of 2007. When all is said and done, Boyd will gain approximately $280 million.

This entry was posted on Wednesday, October 4th, 2006 at 12:23 am and is filed under Commercial Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.