Boyd Gaming Eldorado Casino Will Remain Shuttered Through June 2021

Posted on: August 18, 2020, 08:38h. 

Last updated on: August 18, 2020, 09:37h.

Todd Shriber @etfgodfather Read More
Expertise: Financial, Gaming Business, Mergers and Acquisitions.

Boyd Gaming’s Eldorado Casino in Henderson, Nev. will remain closed through June 2021, after the company requested a non-operational license from the city council.

Boyd Gaming Eldorado Closed Til June 2021
Boyd’s Eldorado Casino in Henderson, Nevada will remain closed until at least June 2021. (Image: FOX5 Las Vegas)

Boyd operates 29 casinos in 10 states, including a dozen in Las Vegas. Between May 20 and July 1, 26 of those venues reopened, with the Eastside Cannery, Eldorado, and Main Street Station in Southern Nevada being the exceptions.

Although the company reported second-quarter earnings on July 28, it didn’t comment on the fate of those three properties at that time. However, a letter sent from Michelle Rasmusson, Boyd vice president of regulatory compliance, to Henderson City Manager Richard Derrick regarding Eldorado is dated July 15.

At this time, we are respectfully informing the City of Henderson that the Eldorado Casino will remain closed until further due to the COVID-19 pandemic,” wrote Rasmusson.

The operator is asking the city to place Eldorado’s gaming and liquor licenses into non-operational status.

Pandemic Fallout

The coronavirus pandemic continues hampering Southern Nevada’s gaming-heavy economy, as many business and leisure travelers remain reluctant to return to the region until a vaccine for the virus is developed.

That reluctance is leading to slack demand, with occupancy rates as low as 30 percent on the weekdays and 50 percent on the weekends on the Las Vegas Strip. Combine weak demand with capacity restrictions, and it’s a recipe for operators to keep some venues closed until conditions improve.

While Boyd is extending the closure of Eldorado until June 2021, it’s not the only gaming company taking that approach. Red Rock Resorts, the parent company of Station Casinos, told the Nevada Gaming Control Board (NGCB) it’s keeping the Fiesta Henderson, Fiesta Rancho, Palms, and Texas Station shuttered until June 2021.

Even with the recent news that MGM Resorts is reopening the Mirage on the Strip on Aug. 27, a total of 11 Sin City gaming properties operated by Boyd, Caesars, MGM, and Red Rock remain closed. Stripping out Eldorado and the four Station venues, it’s not immediately clear what the near-term fate is of the other six venues.

What’s Next

In her letter to the city of Henderson, Rasmusson notes Boyd will continue maintaining Eldorado’s gaming and liquor permits, and that when a decision is made to restart the venue, the operator will submit a reopening plan to local officials.

Eldorado opened in 1961 and is considered a locals casino, meaning its core demographic is folks that live in the area, not tourists visiting Las Vegas. The property has 17,756 square feet of gaming space with 434 slot machines, table games, bingo and keno parlors, and a sportsbook.

Eldorado is located about 14 miles from the Strip. Boyd acquired the property in 1993.