Friday, September 30, 2005

Developments in the four-corner area

Boyd Gaming Corp owns the 4.3 acres of land in the four-corner area of the Strip, which includes the recently bought 1.8-acre land under the Barbary Coast. The place is located in the northeast corner of the Las Vegas Boulevard and Flamingo Road.

The $8 million an acre, paid by the Boyd gaming Corp is quite a good bargain compared to the $20 million an acre that is being paid by the Harrah’s Entertainment for the Imperial Palace and the land on which it is located. Being one of the largest gaming companies in the world and having the capability of making less known areas work to its advantage and getting the maximum benefits from it has put Boyd Gaming Corp in a position that they will develop a niche product in that area that would maximize the value.

The traffic flow through the intersection will have a positive effect on this development. Boyd Gaming Corp has two options they can either think of constructing high-rise buildings or can sell the property to Harrah’s Entertainment, which owes the surrounding areas.

posted by Diane @ 10:05 PM