Why the Barbary Coast Site is so Key to the Future of Boyd Gaming

Boyd Chairman Bill Boyd said Thursday that the Barbary Coast would make a spectacular location for a high-rise resort.

Many have speculated that industry kingpin Harrah's Entertainment would do whatever it takes to acquire the property, which lies smack-dab in the middle of its collection of casinos near the Strip's intersection with Flamingo Road.

Harrah's already owns Bally's/Paris Las Vegas, the Flamingo, Caesars Palace and Bourbon Street and has agreed to buy the Imperial Palace.

Boyd said his company would "never close out the possibility" of a trade or sale of the Barbary Coast, but that the property is "very valuable to us. It's the most trafficked area on the Strip. We think the possibility of a high-rise development (makes for) a tremendous potential for redevelopment."

Boyd's big deal to buy locals giant Coast Casinos and its development of the Borgata megaresort in Atlantic City boosted the company to the casino industry's top flight.

And his company expects to keep growing, Boyd said.

And don't think Boyd's plans for the Stardust will involve a mid-market property. He said the company's research indicates that the high-end is where the biggest profit potential awaits.