Boyd’s purchase of Cannery casinos nears completion

The Eastside Cannery on Boulder Highway.

Boyd Gaming’s purchase of the Cannery casinos is expected to be completed shortly after special sessions of both the Gaming Control Board and Gaming Commission next week.

“That will be our final regulatory requirement,” Boyd spokesperson David Strow said. “We received our FTC (Federal Trade Commission) clearance already. So that means these are the last requirements.”

The $230 million deal with Cannery Casino Resorts LLC includes the Eastside Cannery on Boulder Highway, near Sam’s Town, also a Boyd property, and the Cannery casino in North Las Vegas. Cannery Casino Resorts LLC is jointly owned by Millennium Gaming and Oaktree Capital Management and Crown Resorts Limited.

Strow said he didn’t know the date when the final paperwork would be finished, but said it can be done quickly, so the deal would likely be completed before the holidays.

Boyd announced it was buying both the Cannery and the Eastside Cannery in April, shortly after it announced it would buy Aliante Station from a group of banks and private equity companies. That deal was completed in September.

Tony Alamo, chairman of the Gaming Commission, said the approvals were scheduled for a special session so everything could be finished before the holidays.

“If we had done it on our regular meeting, that leaves them only one day to complete the transaction before Christmas,” Alamo said. “We were willing to do it, and the Gaming Control Board was willing to do it as well. It gives them the ability to do the transaction before holiday shuts everything down.”