Fremont Hotel & Casino’s makeover has started.
Last February, Boy Gaming announced a $50 million renovation and expansion of the downtons casino. The project is part of a larger $250 million capital projects the company has set for 2022.
Fremont’s $50 million facelift will include a larger casino floor and upgraded dining options for guests. The project is expected to be completed in early 2023.
“Behind the Wall” Casino Floor Expansion
Casino operations will not be affected by the gaming floor expansion as the company will be using the property “behind the wall” for the project. The move was made to improve the casino’s leverage of its location in the middle of the Freemont Street Experience pedestrian mall, especially during the busy weekends.
The new dining hall is set to feature six “quick-serve” restaurants which will include nationally known brands that have yet to be revealed. According to Boyd CEO Keith Smith, the dining hall will replace the former Buffet’s former location and use a piece of vacant land behind the building.
Boyd Sustains Momentum
Boyd Gaming sustained its forward momentum with a record first quarter figures for the period ending March 31, 2022. The gambling company reported a revenue of $860.7 million during that period, up by 14.3% from the $753.3 million during the first quarter of 2021. Boyd Gaming also generated a first quarter net income of $162.9 million, up from $102.2 from the previous year’s opening three months.
The total adjusted earnings before interests, taxes, depreciation, and restructuring or rent costs (EBITDAR ) for the period was at $338.8 million, an increase of 15.1% from the $292.6 million during th first quarter of 2021. On the other hand, adjusted earnings for the first quarter of 2022 were at $157.5 million compared to the $105.7 million for the same period last year.