Boyd Gaming Announces New Cadence Crossing Casino in Henderson

Boyd Gaming announced plans to build its new Cadence Crossing Casino in Henderson, Nevada. According to The Nevada Independent, the company said Thursday during an earnings call with analysts that Cadence Crossing Casino will be built on 15 acres, replacing Jokers Wild Casino.

Construction on Cadence Crossing Casino will begin later this year and be completed by early 2026

Cadence Crossing Casino will be located on Boulder Highway near Warm Springs Road and sit adjacent to the Cadence Master Planned Community in Henderson. Boyd CEO and President Keith Smith told analysts construction is expected to begin late this year and will be completed by early 2026.

“We’re opening what I call a modest investment with the square footage and the slots and the food outlets that I described, but clearly with the opportunity to expand it,” Smith said.

The new casino will feature a 10,000-square-foot casino with 450 slot machines, dining, and entertainment. The Jokers Wild will remain open, then be demolished after the new property opens. This will give Boyd time to prepare for casino expansion and hotel renovations.

Cadence is also expected to have 12,000 homes built in the Cadence Master Planned Community, Smith said. Upwards of 5,200 homes have already been constructed.

“We’ve been watching that community develop for a long time, because it’s in our backyard,” said Smith. “We have a sense of how we can build that business. So, we’re opening what I call a modest investment, but clearly with the opportunity to expand. As that community grows, we can grow with it, based on demand.

Boyd Gaming could be acquiring Penn Entertainment in the near future

Moreover, the prospect of Boyd Gaming acquiring Penn Entertainment highlighted Thursday’s second-quarter earnings call with Wall Street analysts.

In June, Reuters reported the Las Vegas-based company’s interest in acquiring rival operator Penn Entertainment. Such a deal would become the largest merger between U.S. gambling operators since the $17.3 billion acquisition of Caesars Entertainment by Eldorado Resorts in 2020.

Founded in 1982, Penn Entertainment operates 43 casinos in 20 states. It operates under brands including Ameristar, Boomtown, and Hollywood Casino. Smith said Boyd Gaming has developed “great expertise” in knowing how to buy companies and invest in properties.

“Following the completion of the Ameristar and Cadence projects, we expect to announce another set of projects,” Boyd CFO Josh Hirsberg told CDC Gaming Reports. “Think of it as a pipeline of projects we choose from each year in order to invest about $100 million a year in growth-related capital.

“You should expect total capital of $400 million to $450 million in both 2024 and 2025. [Total capital will step down] to $300 million to $350 million following the completion of our hotel renovations.”

Jokers Wild originally opened in Henderson as the Cattle Baron Casino back in 1990. The casino closed in 1993 and reopened under its current name.