Transactions - SEPTEMBER 28, 2016

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Boyd Gaming buys Las Vegas hotel

by Andrea Waitrovich

Boyd Gaming Corp. has completed the acquisition of ALST Casino Holdco, the holding company of Aliante Casino Hotel and Spa in Las Vegas. Boyd Gaming bought the property for $380 million.

Aliante, an upscale, resort-style casino and hotel in North Las Vegas, is Boyd Gaming’s first casino property in North Las Vegas, and its 10th property in the Las Vegas Valley.

Aliante opened in November 2008 after a $660 million development project. Aliante Casino Hotel and Spa includes an 82,000-square-foot casino floor, 170-seat race and sports book, 202-room hotel, 16-screen movie theater, 650-seat showroom, 14,000 square feet of event space and a pool.

Commercial real estate investment sales volume in 2015 reached $1.65 billion across 230 sales totaling 9.6 million square feet at an average price of $172.42 per square foot, according to Colliers International’s second quarter 2016 Las Vegas Research and Forecast Report. Compare this with 2014

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