Boyd Gaming’s Echelon Project put on hold till late 2009

Friday, Boyd Gaming (BYD) announced they were suspending construction on their nearly 5 Billion Dollar Echelon Hotel Casino Project.

Echelon is going in where the old Stardust Hotel used to be. The planned 5,000 room complex within walking distance of the Las Vegas Convention Center, will now become the latest reminder of how bad the Economy is. Construction, which is already underway, will be delayed roughly a year.

The Echelon complex is schedule to include five hotels: a Mondrian and a Delano, both of which are part of Morgan’s Hotel Group (MHGC), a Shangri-La, and two Echelon-branded properties. We are told the failure of Morgan’s to secure financing is what spurred Boyd’s decision to postpone Echelon.

The Echelon In Las Vegas Becomes “Ghost Casino”
The Echelon – slated to include a 140000-square-foot casino, nearly 5000 guest rooms in five hotels, two theaters and about 750000 square feet of meeting and exhibit space on 87 acres – joins several suspended projects serving as …
Housing Doom – http://housingdoom.com

Boyd Halts Echelon Construction
Here’s the company’s statement: “We have decided to delay construction of our Echelon project on the Las Vegas Strip due to the difficult environment surrounding today’s capital markets and the challenging economic conditions that …
VEGAS HAPPENS HERE – http://thestrippodcast.blogspot.com/

Poor Economy Delays Las Vegas Echelon Project
Boyd Gaming said it will delay construction of its $4.8 billion Echelon project on the Strip until economic conditions improve. Watch WEB EXTRA interview with Boyd CEO Keith Smith and hear what he has to say about the delay.
KLAS – Top Story News – http://www.lasvegasnow.com/global/category.asp?c=122783

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