BACK TO THE BEGINNING

In the grand scheme, the Eldorado in downtown Henderson doesn't offer much of an impact financially for Boyd Gaming Corp., a multistate casino operator with annual net revenues of $2.2 billion.

But in the company's history, the small Water Street casino is where it all began.

The Boyd family purchased the Eldorado in 1962. Even when the company went public in 1993 and the casino became part of the Boyd Gaming fold, the 30,000-square-foot casino, which now has 490 slot machines, seven table games and two restaurants, still carried a soft spot in the heart of company Chairman Bill Boyd.

While offers may have arrived over the years from potential buyers, the Eldorado has remained a small contributor to the company's bottom line.

"It's been such an important part of Henderson. I always considered this the social center of the community," Boyd said Thursday just before unveiling five outdoor murals by a local artist depicting imagery from casinos of the 1940s. One mural features Boyd and his late father, Boyd Gaming founder Sam Boyd, posing at a blackjack table while Sammy Davis Jr. and Frank Sinatra perform behind them.

The company has spent about $3 million over the past few years to upgrade both the interior and exterior of the Eldorado. Meanwhile, the city of Henderson has spent two years transforming Water Street into an art deco district, with the Eldorado at the center of the promenade.

The city gave Boyd Gaming $95,000 toward a remodeling of the Eldorado's exterior, including an art deco color scheme and a brick-lined sidewalk with park benches outside the casino.

The five, 4-foot-by-8-foot murals, painted by local artist Giuseppe Abreu, feature Hollywood and entertainment icons, such as Dean Martin, Humphrey Bogart, Jimmy Durante and Jimmy Stewart.

"We called it gambling back then, before it was called gaming," Boyd said while viewing the images.

Boyd, who was working as an attorney in 1962, picked up 10 percent ownership in the Eldorado from a client, who wanted to pay his legal fees in stock. Boyd's father purchased another 10 percent and other partners invested. As the casino became popular, the Boyd's bought out their partners.

On Thursday, he laughed about the initial $100,000 total investment the partners made in the Eldorado in 1962. Boyd Gaming is now building the $4.8 billion Echelon project on the Strip.

"I don't think $100,000 would build a bathroom at Echelon," Boyd said.

Boyd, his father, and his aunt and uncle ran the Eldorado as a family business. One restaurant, Mariana's, is named for his daughter.

As the company grew, the Eldorado became a training ground for future Boyd executives. Suncoast general manager Joe Fuscaldo started at Eldorado in the cashier's cage. John Repetti, senior vice president of Boyd's downtown operations, moved from dealer's position at the California to a shift manager spot at the Eldorado to learn the management side of the business. And on Thursday, the current Eldorado general manager, Leif Erickson, was named operations director at the Gold Coast.

"When you're out here and you're the shift boss, you're in charge when the general manager isn't around," Boyd said. "If the toilet stops up, you have to take care of it. It's real hands-on experience and helps you learn how to make decisions."

Boyd Gaming President Keith Smith said most of the Wall Street financial analysts who follow the casino operator might not realize the Eldorado is one of the company's 17 casinos. He doubts many have visited the Eldorado.

"Financially, it's a very small part of the company," Smith said. "But from a cultural standpoint and a family standpoint, it has much more significance. It's a locals casino in every sense and that's important for the history of our company."

Boyd recalled the time the casino upped the price of a cup of coffee to 10 cents from 5 cents, which sparked outrage from the customers.

Today, Boyd visits the Eldorado about once every six weeks. He often runs into the children and grandchildren of original Eldorado customers. He also sees Sharon Brush, who has been a waitress in the Eldorado's coffee shop for almost 31 years.

"It's like a family here," Brush said. "It has a very friendly feel about it."