Boyd Gaming Corp. of Las Vegas announced Wednesday it was buying Peninsula Gaming LLC, which has casinos in the Midwest and the South, for $1.45 billion.
The casinos are Kansas Star Casino, near Wichita, Kan.; Diamond Jo Casino, in Dubuque, Iowa; Diamond Jo Worth, in Northwood, Iowa; Evangeline Downs Racetrack & Casino, in Opelousas, La.; and Amelia Belle Casino, in Amelia, La. Peninsula is based in Dubuque.
"Acquiring Peninsula Gaming is a transformative transaction that fits perfectly into our growth strategy by expanding our company's scale, diversifying our platform, strengthening our financial profile and generating meaningful value for our shareholders," Keith Smith, president and CEO of Boyd Gaming, said in a statement. "The Peninsula properties are a strong fit for us, as they are well-managed and operate in resilient markets in the Midwest and South."
Boyd is known in Las Vegas for owning such downtown properties as Main Street Station and for its locals properties, like Sam's Town.
It also owns half of the Borgata resort in Atlantic City and has casinos in Illinois, Indiana, Louisiana and Mississippi.