GAMING:

Boyd purchases company with casinos in Kansas, Iowa and Louisiana

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.

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  1. Perfect fit! Now fix that Damn hole in the ground that Boyd Gaming made in the area the Stardust use to be in!

  2. This makes perfect sense. They have good cash reserves so they buy properties that do not compete with their current properties. Cash flow right out of the gate.

    They stopped building on the strip because they had "hotel" partners in that project that did not come up with their money, Boyd had theirs.

    It would make no sense at this time in the market place to spend 3 Billion to complete the strip project and run a big loss on it. It would drag the company down and make things worse.

    In time since Vegas he heading back up I am sure Boyd will find the right people and complete that project but they are smart enough to know now is no the time.

  3. I understand that we have no control over property purchases made outside of Nevada, but until Boyd Gaming cleans up the eyesore they left on the strip they should not be allowed to acquire any other Nevada properties. The County Commission will not do anything as they are in the major gaming partners pockets, and pretty much do what the owners of the strip properties ask, without fear of repercussions when projects are left abandoned.

    Maybe Clark County should do the same with developers that the BLM does with new mining claims, you post a bond to reclaim the site back to its original nature. If you are coming to the strip to build, you need to post a bond equal to the cost of demolishing the building and returning the land to its pre-construction state. If the owners are unable to complete then they forfeit the bond money, and if another owner comes along and buys the property, then in turn the first bond is released when the new bond is put up. At least we will have some type of recourse to keep this from happening again here on the strip.