LAS VEGAS, Sept. 5, 2017 /PRNewswire/ -- Boyd Gaming Corporation (NYSE: BYD) today announced that the California State Assembly and California State Senate have each unanimously ratified a tribal-state gaming compact with the Wilton Rancheria Tribe that will allow the tribe to develop and operate a casino resort in Elk Grove, California. The compact was signed by California Gov. Jerry Brown in July.
Boyd Gaming currently has an agreement to develop and manage a casino resort on the Tribe's behalf. The tribe's land, located approximately 15 miles southeast of Sacramento, was placed into trust by the U.S. Bureau of Indian Affairs earlier this year.
After the governor has signed the ratification legislation, the Company will focus on completing the planning and development process for the resort project, and anticipates starting construction in mid-2018. Construction is expected to take 18 to 24 months.
"We congratulate the Wilton Rancheria for reaching this critical milestone in the tribe's progress toward self-sufficiency," said Keith Smith, President and Chief Executive Officer of Boyd Gaming. "We look forward to working with them in the years ahead as we help make their vision of a world-class gaming resort a reality."
About Boyd Gaming Headquartered in Las Vegas, Boyd Gaming Corporation (NYSE: BYD) is a leading diversified owner and operator of 24 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi. Boyd Gaming press releases are available at www.prnewswire.com. Additional news and information on Boyd Gaming can be found at www.boydgaming.com.
Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements contain words such as "may," "will," "might," "expect," "believe," "anticipate," "could," "would," "estimate," "continue," "pursue," or the negative thereof or comparable terminology, and may include (without limitation) information regarding Boyd Gaming's expectations, goals or intentions regarding the future, including, but not limited to, statements regarding Boyd Gaming's partnership with the Wilton Rancheria Tribe to develop a new resort and casino. Forward-looking statements involve certain risks and uncertainties, and actual results may differ materially from those discussed in any such statement. In particular, Boyd Gaming can provide no assurances regarding the timing or effects of Boyd Gaming's partnership with the Wilton Rancheria Tribe or the development of the new resort and casino. Among the factors that could cause actual results to differ materially are the following: competition, litigation, financial community and rating agency perceptions of Boyd Gaming, changes in laws and regulations, including increased taxes, weather, regulation, economic, credit and capital market conditions and the effects of war, terrorist or similar activity. In addition, development projects are subject to the many risks inherent in the construction of a new enterprise, including, among others, unanticipated design, construction, regulatory, environmental and operating problems and lack of demand for Boyd Gaming's projects, as well as unanticipated delays and cost increases, shortages of materials, shortages of skilled labor or work stoppages, unforeseen construction scheduling, engineering, environmental, permitting, construction or geological problems, weather interference, floods, fires or other casualty losses. Boyd Gaming cannot assure that any project will be completed, if at all, on time or within established budgets, or that any project will result in increased earnings to Boyd Gaming. Additional factors that could cause actual results to differ are discussed under the heading "Risk Factors" and in other sections of Boyd Gaming's filings with the SEC, and in Boyd Gaming's other current and periodic reports filed from time to time with the SEC. All forward-looking statements in this press release are made as of the date hereof, based on information available to Boyd Gaming as of the date hereof, and Boyd Gaming assumes no obligation to update any forward-looking statement.