Boyd Gaming sells assets of Florida property
Boyd Gaming Corp. said Monday that it is selling its Dania Jai-Alai business in Florida for $80 million.
Dania Entertainment Center LLC, an entity controlled by a group of private investors, agreed to purchase Dania Jai-Alai in Dania Beach, Fla., south of Fort Lauderdale.
In a statement, Boyd Gaming President and Chief Executive Officer Keith Smith said the sale was consistent with the company's effort to strengthen its balance sheet and "will be immediately accretive to earnings."
Boyd Gaming, a Las Vegas gaming company, said it expects the deal to close by Sept. 26.
In connection with the deal, the buyer paid Boyd Gaming $5 million in nonrefundable up-front cash, which will be applied to the full purchase price.
