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Boyd Plans Big Vegas Project

The company says the $4 billion Echelon Place will be scheduled to open in early 2010.
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Boyd Gaming

(BYD) - Get Boyd Gaming Corporation Report

plans to spend $4 billion to develop a resort and casino complex on its 63-acre site on the Las Vegas Strip.

The company said Wednesday that the project, called Echelon Place, will be scheduled to open in early 2010.

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The development plan will include four hotels with 5,300 rooms and suites. The complex will also have retail space and an exhibition center along with gambling areas.

Boyd said Bob Boughner will leave his position at the Borgata in Atlantic City and return to Las Vegas to lead the project. Providing regulators approve it, Larry Mullin will become president and chief operating officer of the Borgata and will be responsible for all day-to-day operations of the property.

The Las Vegas site is currently occupied by the Stardust Hotel and Casino. Boyd expects to operate the Stardust through 2006, but it will record a pretax charge of $50 million to $60 million for discontinued operations.

Shares of Boyd slipped 15 cents to $48.25 in premarket trading.