“Boyd Gaming and Peninsula share very similar cultures and business models,” Smith said. The ownership of Peninsula Gaming left after the transaction closed, but property managers and the company’s chief operating officer remained in place.

The closing of the transaction gives Boyd Gaming more than 25,000 employees nationwide. In after-hours trading, Boyd Gaming shares rose 7 cents, or 1.34 percent, to reach $5.30 by 5 p.m.

The investment community was mostly positive about the deal because of the reach Boyd Gaming will now have.īoyd Gaming shares rose 1 cent, or 0.19 percent, Tuesday to close at $5.23 on the New York Stock Exchange. Boyd Gaming owns 50 percent of the Borgata in Atlantic City and manages the hotel-casino.Īnalysts didn’t have much comment on the completion of the Peninsula acquisition, which was originally announced in May. In Las Vegas, Boyd Gaming operates three downtown casinos, the three Coast Casinos brands and Sam’s Town. Last month, Smith said the Las Vegas-based company expects more than two-thirds of its cash flow to come from its regional markets.īoyd Gaming now operates 22 gaming properties in eight states – Nevada, New Jersey, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi. “Our next step is to focus on 2013 and to integrate these new properties into the company.” The purchase of Peninsula comes 13 months after closing a $278 million purchase of the IP Biloxi in Mississippi from the Engelstad Family Foundation. “This helps geographically diversify our portfolio.” That’s where business is strongest right now,” Boyd Gaming Chief Executive Officer Keith Smith said Tuesday. “It’s an opportunity to really expand in the Midwest. Tuesday’s completion of a $1.45 billion acquisition of Peninsula Gaming gives the company two new markets – Iowa and Kansas – while adding to an already solid base in Louisiana.

has added six casinos to the company’s portfolio, strengthening both its Midwest and Southern presence.

Casinos owned by boyd gaming