Olympia Group & Boyd Gaming Are JV Partners For North Las Vegas Hotel
Olympia Group and Boyd Gaming are jv partners for North Las Vegas hotel. This week they are planning a casino hotel in the North Las Vegas real estate in Park Highlands.
The 2,675 acre master plan community requires the approval of the North Las Vegas civic leaders for gaming. Boyd Gaming will not continue its casino on a near 40 acre gaming real estate site in Las Vegas, NV, within several miles of Park Highlands. They were to have filed the real estate plans this morning.
The reason for the stated change in location in Park Highlands for its large installed customers and commercial tenants. Their previous land was purchased in 2006 for $35 million.
The North Las Vegas site won’t start construction until the residential area develops in three phases for the next three to five years.
Boyd Gaming’s construction has begun on the Echelon resort on the Strip and two additional hotels outside of Las Vegas, NV, including the Blue Chip riverboat in Indiana and the Borgata in Atlantic city hotel expansion.
Olympia Group is the real estate developer of Southern Highlands Las Vegas and Park Highlands. The land was purchased in 2005 from the BLM for $639 million. When the master plan is finished in 10 years, it will have over 50,000 residents and 16,000 homes.
The gaming entitlement could possibly be difficult for the hotel operator. The North Las Vegas mayor has been against additional casinos particularly because the $675 million Aliante Station is only five miles away.
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Olympia Group and Boyd Gaming are jv partners for North Las Vegas casino.