Boyd Gaming Sells Former Eastside Cannery Property for $28.8 Million Ahead of Residential Development
Boyd Gaming sold the former Eastside Cannery site for $28.8 million, a loss from its $45 million purchase in early 2025. The 29.5-acre Boulder Highway parcel transferred September 10 to a New York land-banking firm that optioned it to Lennar Corp. County approval covers a 279-lot subdivision with homes, parks, and trails.
SCCG Take — The deal shows operators converting former casino sites to residential use via land bankers, accepting realized losses to unlock capital and enable local housing development.
Boyd Gaming has sold the former Eastside Cannery site in the eastern Las Vegas Valley for $28.8 million following approval for a housing project. The operator finalized transfer of the 29.5 acre parcel along Boulder Highway at Harmon Avenue on September 10, according to Clark County public records, as reported by This Week in Gambling.
Sale Terms and Prior Acquisition
Boyd Gaming purchased the land for $45 million in early 2025. The operator closed and demolished the hotel and casino before seeking residential rezoning. The $28.8 million transaction represents a loss on the original purchase price. The buyer is a New York-based investment firm acting as a land banker. That firm granted an option to Lennar Corp. to acquire the land for home construction as development proceeds.
Approved Housing Plans
Clark County commissioners approved Lennar Corp. plans last month for a 279 lot residential subdivision. The project includes two-story single family homes, two dedicated park areas, and a community trail. Demolition of the Eastside Cannery erased the complex less than 20 years after opening. The site sat vacant until this closing, which enables construction to begin.
Reporting: This Week in Gambling
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