Boyd Gaming Corp. of Las Vegas announced Oct. 15 it had completed its acquisition of four properties from Pinnacle Entertainment Inc.: Belterra Casino Resort in Florence; Ameristar St. Charles (Missouri); Ameristar Kansas City (Missouri); and Belterra Park in Cincinnati, Ohio.
As part of the transaction, Boyd Gaming has entered into a lease agreement with Gaming and Leisure Properties Inc., which owns the real estate of Ameristar St. Charles, Ameristar Kansas City and Belterra Casino Resort.
The acquisition follows the company's recent purchase of Valley Forge Casino Resort in King of Prussia, Pa. on Sept. 17. Boyd Gaming now operates 29 casino properties in 10 states – Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio and Pennsylvania.
“By adding these four high-quality properties, we have significantly expanded our portfolio and enhanced our free cash flow profile at a compelling multiple,” said Keith Smith, president and CEO of Boyd Gaming. “We have gained a strong presence in three of the Midwest's largest gaming markets, with access to millions of potential new customers. We are pleased to welcome the Ameristar and Belterra team members to Boyd Gaming, and look forward to great success together.”
Boyd Gaming Corp. also operates the Blue Chip Casino, Hotel & Spa in Michigan City.
