Boyd Gaming Buys Eastside Cannery Land

Boyd Gaming Makes Big Move with Eastside Cannery Property

Boyd Gaming has made a surprising investment in its Eastside Cannery casino, which has been closed since the pandemic. The company recently purchased the land beneath the casino for a whopping $45 million, a move that has raised questions about the future of the property.

From Renters to Owners: A Shifting Relationship

Boyd has owned the Eastside Cannery casino since 2016. However, until now, they didn’t own the land it sits on. Instead, they were leasing the property. That all changed last week when Boyd finalized the purchase of the 29.5-acre plot on Boulder Highway, owned previously by Bill Wortman, a co-founder of the casino’s former operator. This deal ended their lease and shifted Boyd into full ownership of the property.

Why the Eastside Cannery Remains Closed

Despite this significant land purchase, Boyd has been clear that Eastside Cannery will not reopen anytime soon. In a statement, the company said the market conditions weren’t right for reopening. They also mentioned that their nearby Sam’s Town casino, which they also own, offered sufficient space for their operations.

Michelle Rasmusson, a Boyd executive, explained that reopening the casino would only make sense if it could generate enough revenue to cover the land’s expensive lease. However, given the current market demand, Boyd has decided it’s not financially viable to open the doors of Eastside Cannery just yet.

Unanswered Questions About the Future

When asked about the recent purchase and the potential reopening plans, Boyd Gaming kept its cards close to its chest. A spokesperson, David Strow, told the Las Vegas Review-Journal that the company had “nothing additional to share” at this time. This silence has left many wondering what Boyd’s long-term plans for Eastside Cannery are, especially now that they fully own the land.

A Brief History of Boyd’s Investment in Eastside Cannery

Boyd’s journey with Eastside Cannery began in 2016 when the company acquired Cannery Casino Resorts for $230 million. The deal included the Eastside Cannery and another property, Cannery Casino in North Las Vegas. At the time, Eastside Cannery was seen as a strong asset with over 300 hotel rooms and a 64,000-square-foot casino, complete with bars, restaurants, and event spaces.

However, when the pandemic hit, everything changed. In March 2020, Governor Steve Sisolak ordered all Nevada casinos to close. By June 2020, many casinos reopened—but Eastside Cannery never did. The casino has remained shut ever since, with barriers preventing public access.

The Ongoing Challenges: Staffing and Economic Conditions

Boyd Gaming has also cited staffing shortages as a significant hurdle. The company currently has over 400 job openings across its Las Vegas properties, including Eastside Cannery. Reopening the casino would require hiring a large workforce, something Boyd is actively working on. But until market conditions improve and Boyd can fill these positions, the casino will remain closed.

Not Just Sitting Empty

Even though the casino remains closed to the public, Boyd has continued to invest in maintaining the property. The company spends over $500,000 each month to keep the Eastside Cannery in good condition. This includes daily maintenance, IT upkeep, and ensuring the security of the property. Additionally, Boyd runs water regularly to keep the plumbing system in working order.

Community Uses During the Closure

The Eastside Cannery has not been entirely unused. During the pandemic, groups like Three Square Food Bank used the space for weekly food distributions. Local police and fire departments also took advantage of the empty building, using it for various training exercises, including active-shooter scenarios and room-clearing drills.

What’s Next for Eastside Cannery?

For now, the future of Eastside Cannery remains uncertain. Boyd Gaming has made it clear that economic conditions, staffing issues, and market demand will dictate when and if the casino will reopen. In the meantime, the company continues to invest in the property, and the community finds alternative uses for the space.

As Boyd Gaming navigates this uncertain terrain, the question remains: Will Eastside Cannery ever reopen, or will this land remain part of a long-term plan that doesn’t involve a casino? Only time will tell.

Stay informed! Keep checking back for updates as we follow the story of Boyd Gaming’s next steps with Eastside Cannery.