Deals
Genting to Buy Las Vegas Echelon Resort From Boyd
This article is for subscribers only.
Genting Bhd., Southeast Asia’s largest casino operator, will buy and complete Boyd Gaming Corp.’s unfinished Echelon resort in Las Vegas, a sign of renewed confidence in the city’s economy.
Genting will pay $350 million in cash for the 87-acre site, once home to the Stardust, Las Vegas-based Boyd said today in a statement. Boyd took an impairment charge of about $994 million in the fourth quarter, increasing its adjusted loss more than ninefold from a year earlier.