>
+ Reply to Thread
Results 1 to 3 of 3

Thread: Boyd expands into Pennsylvania

Bookmark and Share
  1. #1
    Owner vixen777's Avatar
    Join Date
    Jan 2008
    Location
    In a constant state of madness :)
    Posts
    39,469
    My Mood
    Cheerful

    Boyd expands into Pennsylvania

    SOURCE

    US regional casino operator Boyd Gaming has made its second major deal this week by acquiring the Valley Forge Casino Resort in Pennsylvania.

    On Thursday, Boyd announced that it had reached a deal with Valley Forge Convention Center Partners L.P. to acquire the casino in King of Prussia, Pennsylvania for $280.5m in cash.

    The purchase price represents an implied multiple of 7x EBITDA, and Boyd expects the deal to be immediately accretive to its earnings.
    Boyd will use incremental debt financing to fund the deal, which the company expects will close in Q3 2018.

    Valley Forge currently offers 600 slot machines, 50 table games and nearly 500 hotel rooms, but the property plans to add around 250 more slots early in the new year,
    thanks to the new wiggle room afforded Category 3 license holders like Valley Forge in the wide-ranging gambling expansion bill the state approved last month.

    That legislation also allowed Category 3 ‘resort’ casinos to drop their much-loathed customer admission fees, which Boyd expects,
    along with the added slots, will help drive increased customer traffic to the property.

  2. #2
    Administrator dani3839's Avatar
    Join Date
    Jan 2008
    Location
    "On the coast of somewhere Beautiful"
    Posts
    57,763

    Re: Boyd expands into Pennsylvania


  3. #3
    Moderator sorcer3ss's Avatar
    Join Date
    Feb 2008
    Location
    Melbourne, Australia
    Posts
    43,918
    My Mood
    Happy

    Re: Boyd expands into Pennsylvania


+ Reply to Thread

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Members who have read this thread : 4

You do not have permission to view the list of names.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts