Gaming Exec: Echelon On Hold 3-5 Years

The Stardust was actually turning a decent profit before it was closed. It just wasn't enough of a profit for greedy Boyd.

Now, of course, there's no profit. No more income from Barbary Coast either.

Just an ugly eyesore and the first in a series of monuments to inept corporate ownership and what's wrong with Vegas.

Originally Posted by DannyOcean

The Stardust was actually turning a decent profit before it was closed. It just wasn't enough of a profit for greedy Boyd.

No, it was earning $20 million in annualized EBITDA -- after depreciation & interest & taxes it probably wasn't making much money at all, if any. That's a terrible retun on the value of the land. So I don't think they're in a significantly worse position today, and in fact they have a lot of unused capacity on their bank loan that they can use for other opportunities in the meantime.

And if you want to blame someone, blame the banks that let these companies leverage up under the mistaken assumption that Vegas is recession resistant (of course it always had been, but that was before there was a Native American or commercial casino within an hour or two of virtually everyone in the country).