Casino resort CEO buys Park Towers 3BD for $3.3M

Robert L. Boughner bought a three-bedroom, four bath condo at 1 Hughes Center Dr. in Paradise from Timothy N. Poster for $3.3 million on Jan. 3, 2006.

Poster paid $1.475 million for Unit #1501 in Aug. 2000. The unit is in the Park Towers at Hughes Center.

Mr. Boughner is president and chief executive officer of Echelon Resorts, which is part of Boyd Gaming Corporation. He has held the position since 2005.

Prior to this, he was CEO of the Marina District Development Company (MDDC), which operates the Borgata Hotel Casino & Spa in Atlantic City, N.J. He also served as chief operating officer and senior executive vice president for the company. He started working for MDDC in 1990.

Previously, he was senior vice president of administration of California Hotel & Casino.

Park Towers at Hughes Center, completed in 2000, is a 20-story condo development with 88 units, each with a square footage ranging from 2,100 to 5,400.

Sales in the development dropped 88 percent in 2007, from 290 in 2006 to 34 in 2007. The median sales price jumped 25 percent in the same time, from $519,000 to $650,000.

Address: 1 Hughes Center Drive, Unit: 1501
Buyer(s): Robert L Boughner (Trustee) and Robert L Boughner Investment Trust
Seller(s): Timothy N Poster
Sale date: Jan. 3, 2006