LAS VEGAS, Sept. 15, 2011 /PRNewswire/ -- Boyd Gaming Corporation (NYSE: BYD) today announced that Dania Entertainment LLC has elected to extend the closing date of its pending acquisition of Dania Jai-Alai in Dania Beach, Fla. The sale is expected to close on or before November 28, 2011.
As permitted under the terms of the definitive sale agreement, Dania Entertainment, LLC, has made an additional, non-refundable payment of $2 million to Boyd Gaming in exchange for the extension of the closing date. Of the $2 million payment, $1 million will be applied to the $80 million purchase price. Boyd Gaming previously received a $5 million non-refundable deposit upon execution of the definitive agreement.
About Boyd Gaming
Headquartered in Las Vegas, Boyd Gaming Corporation (NYSE: BYD) is a leading diversified owner and operator of 16 gaming entertainment properties located in Nevada, New Jersey, Mississippi, Illinois, Indiana, and Louisiana. Boyd Gaming press releases are available at www.prnewswire.com. Additional news and information on Boyd Gaming can be found at www.boydgaming.com.
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) statements regarding the transactions contemplated by the purchase agreement and Boyd Gaming's expectations regarding if or when the pending transaction will close. Forward-looking statements involve certain risks and uncertainties, and actual results may differ materially from those discussed in each such statement. Factors that could cause actual results to differ include (without limitation) the possibility that the transactions contemplated by the purchase agreement will not close on the expected terms, or at all; litigation, antitrust matters or the satisfaction or waiver of any of the closing conditions that could delay or prevent the closing; and changes to the financial conditions of the parties or the economic conditions in the areas in which they operate. Additional factors are discussed in "Risk Factors" in Boyd Gaming's Quarterly Report on Form 10-Q for the quarter ended June 30, 2011, and in Boyd Gaming's other current and periodic reports filed from time to time with the Securities and Exchange Commission. All forward-looking statements in this document 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.
SOURCE Boyd Gaming Corporation