The acquisition of the nearly 8-year-old casino, which was announced in April this year, grows the Las Vegas-headquartered company’s presence in the Las Vegas Valley to 10 properties. In addition to its Nevada properties, Boyd owns and operates 22 gaming entertainment properties located in Indiana, Illinois, Kansas, Iowa, Louisiana, and Mississippi.
Boyd Gaming’s President and Chief Executive Officer, Keith Smith, said, “As the premier gaming asset in North Las Vegas, Aliante provides a tremendous opportunity to participate in the long-term growth of the northern part of the Las Vegas Valley,” according to the company’s news release.
Executives at Boyd are betting that the strategic placement of the casino, which is located off the 215 Beltway roughly between Interstate 15 and U.S. 95, will benefit from future growth. In addition to an 82,000-square-foot casino floor, the Aliante features a 202-room hotel, 170-seat race and sports book, 650-seat showroom, 16-screen movie theater, pool, and 14,000 square feet of event space. At a cost of more than $660 million, the resort was opened under the name Aliante Station in November 2008 and was originally a joint venture between the Greenspun family and Station Casinos. However, in 2011, a group of private equity companies and banks became the new owners due to Station’s bankruptcy restructuring.
Aliante will get some new leadership, as Kerrie Burke, longtime Boyd Gaming executive, will be the property’s vice president and general manager, and Rich Danzak, Aliante’s vice president of human resources, will assume the assistant general manager role, according to the news release.
The acquisition transitions Aliante to the Boyd Gaming Race and Sports hub, and will now offer the latest Boyd Gaming lines at its race and sports book. Customers will also be able to use Boyd’s mobile sports betting app, B Connected Sports. Aliante is also expected to transition to B Connected, Boyd’s nationwide loyalty program, in the coming year.
During the first year, Boyd expects the Aliante purchase to create $8 million in cost savings, as well as generating, before EBITDA, earnings of more than $40 million within three to five years.