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Non-Tech : Boyd Gaming - BYD -- Ignore unavailable to you. Want to Upgrade?

To: David T. Groves who wrote (29)	8/21/2000 7:46:56 AM
From: David T. Groves	Respond to of 30

Boyd Gaming upbeat on development near Stardust Thursday August 17, 6:58 pm Eastern Time LOS ANGELES, Aug 17 (Reuters) - Casino operator Boyd Gaming Corp. (NYSE:BYD - news) believes recent developments on the north Las Vegas Strip bode well for the future of the company's ageing Stardust Resort & Casino on 61 acres of land in the area, a company spokesman said on Thursday. The Stardust property is across the street from the Desert Inn, which was purchased in June by casino magnate Steve Wynn. The former Mirage Resorts chief, known for his flashy style, has said he wants to tear down the existing building and replace it with with a 6,000-room, twin-tower luxury hotel and gaming complex. Also in the area, the owner of the Frontier Hotel and Casino plans to tear down the existing building and build a 2,500-room resort, The City By The Bay, centred around a San Francisco theme. ``We view our 61 acres where the Stardust currently operates as a strategic asset, and we're obviously going to monitor what goes on at a later date,'' said Boyd spokesman Rob Stillwell. ``We have no plans for it, but certainly the developments in recent months for Steve Wynn and the Frontier plans bode well for us.'' Stillwell said Boyd Gaming is currently focused on a planned late September groundbreaking for its $1 billion Borgata mega-resort in Atlantic City. The project will be the largest ever for Las Vegas-based Boyd, which owns 11 casinos in five states. Stillwell said most permits for the Tuscan-themed 50-50 joint venture with MGM Mirage (NYSE:MGG - news) are in place, but the funding for the 60 percent of the project's cost the partnership intends to finance is still being finalised. The project is in a coastal area away from the traditional boardwalk setting, and would be the biggest resort in Atlantic City history, with 2,010 rooms. When it opens in 2003, it will be Atlantic City's first new casino in 13 years, Stillwell said.