Vol. 4, No. 8, August 2007
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Echelon Unveiled
Boyd Gaming outlines plans for its new venture
Boyd Gaming officials unveiled details about the company’s newest project, Echelon, releasing unseen renderings and an updated construction cost for the resort being built at the former site of the Stardust in Las Vegas.
The project is now expected to cost $4.8 billion, up from earlier reports of $4.4 billion. Boyd is covering $3.3 billion for the components it will own and operate, and entering into joint ventures for other amenities.
The property will feature five hotels with a total of 5,000 rooms. It will have more than 30 dining and nightlife venues, 4,000-seat and 1,500-seat entertainment venues, a 300,000-square-foot retail promenade and a 140,000-square-foot casino.
“We are creating a destination resort that will be seen for miles, and yet, be accessible within feet,” said Echelon President Bob Boughner. “With Echelon, we are making the most of our extraordinary and highly visible Las Vegas Strip site by building five hotels with world-class amenities, in one dramatic phase.”
Boyd is entering a $500 million joint venture with General Growth Properties for the retail promenade and a $950 million joint venture with Morgans Hotel Group for the Delano and Mondrian hotel towers.
