Properties including Ameristar Kansas City (Missouri); Ameristar St. Charles (Missouri); Belterra Park at Cincinnati, Ohio; and Belterra Casino Resort at Florence, Indiana, has already been completed.
Based on the official press release…
A master rental agreement, which is an element of the transaction, was entered into by the Las Vegas-headquartered company with real estate investment trust, Gaming and Leisure Properties, Inc.
Both the property and the operations of Belterra Park were obtained by Boyd Gaming, using used financing from Gaming and Leisure Properties, Inc. for purchasing property resources.
Previous acquisition:
The current purchase is on the insides of Boyd Gaming’s September 17, 2018 acquisition of Valley Forge Casino Resort at King of Prussia, Pennsylvania. The company is now the operator of 29 gaming and entertainment properties in 10 countries such as Kansas, Indiana, Illinois, Nevada, Iowa, Mississippi, Ohio, Pennsylvania, Louisiana and Missouri.
President and Chief Executive Officer for Boyd Gaming, Keith Smith said…
“By incorporating these four high-quality properties, we’ve expanded our portfolio and improved our free cash flow profile at a persuasive multiple.
“We’ve gained a solid presence in several of those Midwest’s biggest gaming markets, with access to a huge number of prospective new clients. We are pleased to welcome the Ameristar and Belterra team members to Boyd Gaming, and look forward to great success together. ”
Growing company:
Launched in 1975, Boyd Gaming Corporation currently works 1.76 million square feet of casino space, roughly 900 dining table games, 38,000 gaming machines, 320 food and beverage outlets and more than 11,000 hotel rooms.
