Boyd Gaming to draw on facility to finance four asset acquisitions

By Tali Rackner

Minneapolis, Dec. 18 – Boyd Gaming Corp. plans to use availability under its existing credit facility to help finance its acquisitions of the operations of Ameristar St. Charles in Mo., Ameristar Kansas City in Mo., Belterra Casino Resort in Florence, Ind. and Belterra Park in Cincinnati, according to a press release.

Under terms of the agreement with Penn National Gaming, Inc., Boyd Gaming will pay total cash consideration of $575 million to acquire the four assets.

The acquisition is in connection with Penn National's proposed acquisition of Pinnacle Entertainment, Inc., which was announced on Monday.

Boyd Gaming will also use cash flow from operations to finance the purchase.

Boyd is a Las Vegas-based operator of gaming entertainment properties.

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