Boyd Gaming has announced that it has formed a joint venture with Olympia Gaming to develop a casino resort in North Las Vegas. The company has today filed an application with the City of North Las Vegas to develop a 66-acre mixed-use regional entertainment centre within the masterplanned community of Park Highlands.

"Forming a joint venture with one of the prominent land developers in the Las Vegas Valley adds another dimension to our long-term growth pipeline, giving us the opportunity to expand our locals franchise as part of a larger commercial project located in one of the fastest-growing areas in the Las Vegas Valley," said Keith Smith, Boyd Gaming President and Chief Executive Officer. "We envision this property will become the hub of Park Highlands, providing residents with a wealth of entertainment options in a complex designed to have minimal impact on nearby residential areas."

If the proposed casino and spa resort gains the necessary approvals, Boyd Gaming plans to go ahead with that development instead of a planned development on a 40-acre site in another area of North Las Vegas. The Park Highlands development is expected to feature six school sites and 430 acres of dedicated parks and trails (including 300 acres of preservation area). The master-planned community will also feature a regional police station, a fire station, a U.S. Post Office and a City of North Las Vegas Public Library. Costs for infrastructure and improvements are estimated to be in excess of US$1 billion.

Olympia Gaming is the gaming development division of the Olympia Group of companies, a multifaceted organization. The formation of a gaming arm reflects the natural evolution of the company that opened the successful Casino Fandango in Carson City, Nevada in 2003. Olympia Gaming is in the planning stages of several large-scale developments including Legends Bay Casino-Resort-Spa, a mixed-use destination resort in Sparks, Nevada and Southern Highlands Casino, a mixed use casino and destination retail lifestyle centre located on 100 acres in Las Vegas' emerging South Strip entertainment corridor.

"We are delighted to join forces with one of the major players in the gaming business today," said Garry Goett, Chairman and Chief Executive Officer of Olympia Gaming. "Boyd Gaming provides Park Highlands with a casino entertainment component that completes our vision for a community-centric master-planned development. We are developing this community, not only for the residents who will live here, but for the 125,000 neighbors who live in the surrounding area."

Boyd Gaming is also developing Echelon, a world-class destination resort on the Las Vegas Strip, expected to open in the third quarter 2010. The company owns and operates 16 gaming entertainment properties located in Nevada, New Jersey, Mississippi, Illinois, Indiana and Louisiana. Two days ago one analyst described Boyd Gaming stock as a great investment for long-term investors after an unwarranted 41% sell off since December. (E-04.11.08)

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