- Associated Press - Friday, April 22, 2016

LAS VEGAS (AP) - Las Vegas-based Boyd Gaming Corp. says it has reached an agreement to purchase the Aliante casino in North Las Vegas for $380 million.

Boyd President and CEO Kevin Smith described the purchase as a strategic extension into the northern part of the Las Vegas region, and several industry observers also praised the deal.

Deutsche Bank analyst Carlo Santarelli said in a note to investors that the nearly 8-year-old, upscale neighborhood casino fills a geographic hole in Boyd’s portfolio. The company currently has no properties in North Las Vegas’ $270 million gaming market.

Boyd executives expect Aliante to create $8 million in cost savings during the first year and more than $40 million in earnings before interest, taxes, depreciation and amortization in three to five years.

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