Boyd Gaming Planning Enhancements at Suncoast Hotel & Casino

Posted on: March 19, 2024, 03:14h. 

Last updated on: March 19, 2024, 04:08h.

Todd Shriber @etfgodfather Read More
Expertise: Financial, Gaming Business, Mergers and Acquisitions.

Boyd Gaming (NYSE: BYD) announced on Tuesday extensive renovation plans for its Suncoast Hotel & Casino in suburban Las Vegas.

Suncoast Hotel & Casino, Boyd Gaming, escalator
The Suncoast Hotel & Casino. Operator Boyd Gaming is planning to renovate the casino and sportsbook there, among other enhancements. (Image: Boyd Gaming)

Last year, the operator added a new high-limit room and a William B’s Steakhouse to Suncoast. Future enhancements will include a reimagined sportsbook, which the gaming company forecast will be ready for the 2024 football season. Boyd is also planning a new bingo room for the venue.

Located in the premier northwest area of Las Vegas and surrounded by 81 holes of world-class golf, the Suncoast Hotel & Casino features exclusive restaurants, fun gaming, deluxe accommodations, bowling, movie theaters, bingo, and much more,” according to the operator’s website.

Boyd is also planning to modernize Suncoast’s casino floor, renovate the property’s bowling alley, overhaul the banquet and meeting space, add a new front desk area, and introduce a fresh food court concept. One of the marquee features of the new casinos will be a new, 70-seat raised bar.

New Competition Could Be Impetus for Suncoast Casino Renovation

Suncoast is located near the Rampart Casino and not far from the Red Rock Casino Resort and Spa, but it could be new competition that could be the motivating factor in the Suncoast Casino update.

Red Rock Resorts’ (NASDAQ: RRR) Durango Casino & Resort in Southwest Las Vegas opened its doors in December and is off to an impressive start, something Boyd executives have acknowledged. In advance of Durango’s debut, analysts speculated that the venue could pilfer business from rival locals’ gaming venues, including Boyd’s Orleans and Suncoast.

To date, Boyd management has maintained the view that its properties closest to Durango aren’t feeling any adverse effects of the new casino resort. Still, Boyd and Red Rock are the dominant operators in the Las Vegas locals market and the former’s plans to bolster Suncoast arrived barely more than three months after Durango opened.

Las Vegas-based Boyd didn’t reveal its financial commitments to the Suncoat upgrade, but the company had cash on hand of $304.3 million at the end of last year, indicating it has the resources for property enhancements.

New Sportsbook Could Boost Suncoast Casino

With the exceptions of Durango and Red Rock, many locals’ casinos in Las Vegas arguably have dated sportsbooks, but Boyd is addressing that at Suncoast.

The operator, however, didn’t mention any plans to include FanDuel at the property. Boyd owns 5% of FanDuel and that branding is used at the sportsbook at Boyd’s Fremont Hotel Casino in downtown Las Vegas. FanDuel odds are also used at that sportsbook, but it is run by Boyd.

Boyd runs 10 gaming venues in its home market, including Aliante, California, Cannery, Fremont, Gold Coast, Jokers Wild, Main Street Station, Sam’s Town, Suncoast, and The Orleans. It also operates regional casinos in Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.