HARRAH'S ACQUIRES BARBARY COAST

magoo · #1 10-13-2006, 08:57 AM

This is the last straw for me. I'm "officially" on a Harrah's boycott. Gaming is a business which should never be monopolized. It is so bad, the average gambler can't see it. They think high hotel rooms, high priced food, and high vigorish are "just a part of the casino experience".

"LAS VEGAS, Oct. 2 /PRNewswire-FirstCall/ -- Boyd Gaming Corporation (NYSE: BYD) today announced that it has reached an agreement with Harrah's Entertainment, Inc. to trade the Barbary Coast Hotel and Casino in a tax- deferred exchange for approximately 24 contiguous acres of Las Vegas Strip property that Harrah's has contracted to acquire from third parties. The land that Boyd Gaming is to receive in the exchange is located directly to the north of its 63-acre Echelon Place development site. Boyd Gaming expects to recognize a non-cash gain of approximately $280 million in the quarter in which the transaction closes and plans to begin reporting the results of operations from Barbary Coast in "discontinued operations" in the third quarter 2006. The transaction is subject to customary closing conditions, including receipt of regulatory approvals, and is expected to close in the first quarter 2007."

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LasVegasMichael · #2 10-13-2006, 11:51 AM

This was rumored several months ago, and was pretty much in evitible.

It is building to the mega property that Harrahs supposedly has planned that wil go from Barbary Coast all the way to Harrahs, now that they own every single property on that block (stopping just before Venetian).

I stopped playing at Harrahs properties a long time ago. I prefer independants (like Venetian) or MGM Mirage properties.

benfranklin · #3 10-13-2006, 12:36 PM

Take a look at this map.

Look at the Barbary Coast at the NE corner of Flamingo and the strip. Harrah's also owns the Flamingo and the Imperial Palace. Then look at the brown areas just to the right, north and south of Flamingo marked "Harrah's Future".

You don't have to worry about the Barbary Coast being part of a monopoly. It is going to be part of history.

Off Duty · #4 10-13-2006, 12:58 PM

The real loss in this whole deal is that of Micheal's, my favorite resturant on the planet.

If you get a chance to go there before it closes, I encourage you to go. It's not cheap - maybe $100 a person before drinks. Worth every penny to eat at the last remaining dinasour of the late seventies continental style, complete with relish tray, leather covered seats, and the best service I've ever had anywhere.

dogmeat · #5 10-13-2006, 01:00 PM

[ QUOTE ]

I prefer independants (like Venetian) or MGM Mirage properties.

[/ QUOTE ]

LOL - You consider the MGM Mirage an independant?

Dogmeat [img]/images/graemlins/spade.gif[/img]

hobbes9324 · #6 10-13-2006, 01:06 PM

Basically, Harrah's sucks.

MM MD

benfranklin · #7 10-13-2006, 01:15 PM

[ QUOTE ]
[ QUOTE ]

I prefer independants (like Venetian) or MGM Mirage properties.

[/ QUOTE ]

LOL - You consider the MGM Mirage an independant?

Dogmeat [img]/images/graemlins/spade.gif[/img]

[/ QUOTE ]

MGM Mirage properties

All properties are wholly owned by MGM Mirage except where indicated.

Las Vegas, Nevada

* Bellagio Hotel/Casino
* Circus Circus
o Slots-A-Fun Casino
* Excalibur
* Luxor
* Mandalay Bay
o THEhotel at Mandalay Bay
* MGM Grand Las Vegas
o The Signature at MGM Grand
* The Mirage
* Monte Carlo Hotel/Casino
* New York-New York Hotel/Casino
* Treasure Island, ti
* Project City Center

Elsewhere in Nevada

* Circus Circus Reno, Reno, Nevada
* Silver Legacy Resort Casino, Reno, Nevada (51% owner in partnership with Eldorado Hotel Casino)
* Colorado Belle Hotel & Casino, Laughlin, Nevada
* Edgewater Hotel and Casino, Laughlin, Nevada
* Railroad Pass, Henderson, Nevada
* Nevada Landing Hotel and Casino, Jean, Nevada
* Gold Strike Hotel and Gambling Hall, Jean, Nevada
* Primm Valley Resorts, Primm Valley, Nevada
o Buffalo Bill's
o Primm Valley Resort
o Whiskey Pete's
o Star of the Desert Arena
o Primm Valley Golf Club
* Shadow Creek Golf Course[1], North Las Vegas, Nevada

Other properties

* Gold Strike Resort and Casino, Tunica, Mississippi
* Grand Victoria, Elgin, Illinois
* MGM Grand Detroit, Detroit Michigan (50% owner in partnership with Partners Detroit, L.L.C.)
* Beau Rivage Hotel and Casino, Biloxi, Mississippi (currently closed after sustaining heavy damage from Hurricane Katrina)
* Borgata Hotel/Casino and Spa, Atlantic City New Jersey (50% owner through Marina District Development Corporation, LLC)
* MGM Grand Macau, Macau, China (joint project with Pansy Ho Chio-king, opening 2007)

Subsidiaries

* MGM Mirage Vacations[2], Milwaukee, Wisconsin
* Primadonna Resorts

BigBuffet · #8 10-13-2006, 01:55 PM

The BC is a hole just like the old original Castaways. Can't wait to see it fall.

IP sucks too.

I'll miss the Flamingo. Great pool area...

I'll also miss the Stardust. First place I ever played. I was in junior high in the mid 70's and they didn't care. Talk about good customer service. lol

LasVegasMichael · #9 10-13-2006, 01:55 PM

[ QUOTE ]
[ QUOTE ]

I prefer independants (like Venetian) or MGM Mirage properties.

[/ QUOTE ]

LOL - You consider the MGM Mirage an independant?

Dogmeat [img]/images/graemlins/spade.gif[/img]

[/ QUOTE ]

No. Hence the reason I said independents <u>OR</u> MGM Mirage properties.

The parenthetical notation implied that the example given of Venetian was referring to the independents only, not the properties listed after "or" implying that in addition to the independents, I enjoy MGM Mirage properties as well.

bocablkr · #10 10-13-2006, 03:29 PM

This map shows what everyone owns - http://www.vegastodayandtomorrow.com/monopoly.htm