Boyd Gaming sells 50% stake in Atlantic City’s Borgata to MGM Resorts

1st June 2016 8:56 am GMT

US casino operator Boyd Gaming Corporation has entered into an agreement to sell its 50 per cent holding in New Jersey’s Borgata Hotel Casino & Spa to MGM Resorts International in a $900m deal.

Boyd will sell its stake in Marina District Development Holding Company, the Borgata’s parent company, for $600m in net cash proceeds, after deducting its share of the venue’s outstanding debt. It has also agreed to give up a 50 [...]