Boyd Gaming to sell Florida business for $80 million
2 May 2011
Boyd Gaming Corp. of Las Vegas today announced it's selling its Dania Jai-Alai business in Dania Beach, Fla., south of Fort Lauderdale, for $80 million in cash.
The purchaser is Dania Entertainment Center LLC, which is controlled by private investors.
Dania is a pari-mutuel wagering jai-alai facility with some 47 acres of related land. It has live jai-alai, a poker room and simulcast wagering on Miami jai-alai events and thoroughbred, harness and dog racing
"After a careful analysis, we determined that Dania Jai-Alai no longer fits our current growth strategy," Boyd CEO Keith Smith said in a statement. "The sale of this asset is consistent with our priority of strengthening our balance sheet, and will be immediately accretive to earnings."
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