Boyd Gaming sells Eastside Cannery website for $29M after new housing venture permitted | Casinos & Gaming

Boyd Gaming Corp. has bought a former Las Vegas on line casino website for practically $29 million after a homebuilder secured approvals for a brand new subdivision on the property.

Boyd bought the now-empty former Eastside Cannery plot for $28.8 million to a New York funding agency that concurrently granted an choice to homebuilding big Lennar Corp. to amass the unfold, based on Clark County property data and state and federal company filings.

The sale, which closed Sept. 10, concerned a so-called land banker. Typically, such teams purchase land for homebuilders after which promote them plots once they’re prepared for building.

Last month, Clark County commissioners permitted Lennar’s plans for a 279-lot housing tract on the roughly 29.5-acre former Eastside Cannery website, alongside Boulder Highway at Harmon Avenue within the jap Las Vegas Valley.

Plans name for a group of two-story single-family homes, together with two park areas and a path.

Overall, the sale closes the guide on a hotel-casino that was torn down and imploded lower than 20 years after it opened.

It additionally marked a pointy drop within the gross sales value: Boyd bought the land below Eastside Cannery for $45 million early final yr, property data present, earlier than it introduced plans to demolish the shuttered resort and promote the location for residential use.

Neither Boyd nor Lennar responded to requests for remark.

$250M venture

Eastside Cannery featured 300-plus lodge rooms, a 64,000-square-foot on line casino, a number of bars and eating places, a 250-seat leisure lounge and 20,000 sq. toes of assembly and ballroom house.

Developer Bill Wortman opened the $250 million venture in summer season 2008, changing the Seventies-era Nevada Palace, and his staff figured the newly constructed resort would create pleasure on the east aspect of city.

“There hasn’t been anything new down here for many years,” he stated on the time.

Boyd Gaming acquired Eastside Cannery and the Cannery hotel-casino in North Las Vegas from Wortman’s firm in 2016 for $230 million in money.

In March 2020, then-Gov. Steve Sisolak ordered casinos and different companies in Nevada closed to assist comprise the coronavirus outbreak. Nevada’s casinos have been allowed to reopen in June 2020, however Eastside Cannery by no means did.

Michelle Rasmusson, Boyd’s chief compliance officer, informed Clark County officers in a letter in spring 2024 that the corporate had “plenty of excess capacity” at its neighboring Sam’s Town hotel-casino on Boulder Highway and that market situations didn’t help reopening Eastside Cannery.

‘Join us for our implosion party!’

Boyd finally bought the land below the closed hotel-casino from Wortman for $45 million in early 2025, property data present. The firm had been leasing the footprint however declined to say why it purchased the land.

Then, in October 2025, Boyd introduced plans to demolish Eastside Cannery and promote the location. Work crews had already began tearing it down when, this previous February, Boyd stated the lodge tower itself can be imploded.

The 16-story constructing got here crashing down at 2 a.m. on March 5.

Las Vegas has a protracted historical past of on line casino implosions, however Eastside Cannery met its demise a lot earlier than different resorts that have been additionally emptied out, laced with explosives and, in a matter of seconds, decreased to rubble.

In America’s on line casino capital, lodge implosions are a spectacle: They are sometimes early-morning events, with fireworks and much of individuals gathering to observe and cheer the destruction.

There have been no designated public viewing areas for the Eastside Cannery implosion, or any fireworks. But a number of individuals have been outdoors at a neighboring RV park to observe the constructing get toppled, and the Longhorn on line casino throughout the road tried to money in on the occasion.

“Join us for our implosion party!” its signal out entrance declared.

Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342.