Boyd Buys Casino Site

The company pays $35 million for the Nevada land.
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Boyd Gaming

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is acquiring a 40-acre site to house a casino that it hopes will prove popular with the residents of Las Vegas.

The casino operator said the land is located in the northwest part of the Las Vegas metropolitan area near the intersection of I-15 and the Las Vegas Beltway. Boyd is buying the land for $35 million.

"Growing our strong franchise in the Las Vegas locals market has been a significant priority for our company," Boyd said. "This site is very well situated in a major growth corridor in the northwest part of Las Vegas with a location that is a perfect complement to, and not in conflict with, our other properties that serve Las Vegas locals."

The company expects to start work next year on the development of a full-service casino and hotel at the site.

Shares of Boyd were down 94 cents, or 2.1%, at $43.78.