![]() ![]() This transaction will expand our Company's size and scale, grow our customer base, and further enhance our substantial free cash flow profile."Īs part of the transaction, Boyd Gaming will enter into a master lease agreement with Gaming and Leisure Properties, Inc. "By adding these four high-quality, well-maintained assets to our portfolio, we will gain strong positions in three of the largest metropolitan areas in the Midwest. ![]() "This transaction is a compelling opportunity to diversify and expand our nationwide portfolio into new markets at an attractive price," said Keith Smith, President and Chief Executive Officer of Boyd Gaming. The Company expects the transaction to be free cash flow positive and immediately accretive to earnings. Under terms of the agreement, Boyd Gaming will pay total cash consideration of $575 million to acquire the four assets, representing a multiple of 6.25 times projected EBITDA before synergies. (NASDAQ: PNK) ("Pinnacle"), also announced today. The acquisition of these assets is in connection with Penn National's proposed acquisition of Pinnacle Entertainment, Inc. Charles ( Missouri) Ameristar Kansas City ( Missouri) Belterra Casino Resort in Florence, Indiana and Belterra Park in Cincinnati, Ohio. (NASDAQ: PENN) ("Penn National") to acquire the operations of Ameristar St. 18, 2017 /PRNewswire/ - Boyd Gaming Corporation (NYSE: BYD) today announced that it has entered into a definitive agreement with Penn National Gaming, Inc. ![]()
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