LAS VEGAS, Oct. 15, 2018 /PRNewswire/ -- Boyd Gaming
Corporation (NYSE: BYD) today announced that it has completed its acquisition of the operations of four properties from Pinnacle
Entertainment, Inc.: Ameristar St. Charles (Missouri); Ameristar Kansas City (Missouri); Belterra Casino Resort in Florence, Indiana; and Belterra Park
in Cincinnati, Ohio.
As part of the transaction, Boyd Gaming has entered into a master lease agreement with Gaming and Leisure Properties,
Inc. (NASDAQ: GLPI), which owns the real estate of Ameristar St. Charles, Ameristar Kansas City and Belterra Casino
Resort. Boyd Gaming acquired both the operations and real estate of Belterra Park, utilizing financing from GLPI for the purchase
of the Belterra Park real estate assets.
The acquisition follows the Company's recent purchase of Valley Forge Casino Resort in King of
Prussia, Pennsylvania, on September 17. Boyd Gaming now operates 29 casino properties in 10 states – Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio and
Pennsylvania.
"By adding these four high-quality properties, we have significantly expanded our portfolio and enhanced our free cash flow
profile at a compelling multiple," said Keith Smith, President and Chief Executive Officer of Boyd
Gaming. "We have gained a strong presence in three of the Midwest's largest gaming markets, with access to millions of
potential new customers. We are pleased to welcome the Ameristar and Belterra team members to Boyd Gaming, and look forward
to great success together."
About Boyd Gaming
Founded in 1975, Boyd Gaming Corporation (NYSE: BYD) is a leading geographically diversified operator of 29
gaming entertainment properties in 10 states. The Company currently operates 1.76 million square feet of casino space,
approximately 38,000 gaming machines, 900 table games, more than 11,000 hotel rooms, and 320 food and beverage outlets.
With one of the most experienced leadership teams in the casino industry, Boyd Gaming prides itself on offering its guests an
outstanding entertainment experience, delivered with unwavering attention to customer service. For additional Company
information and press releases, visit 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 include (without limitation) statements regarding Boyd Gaming's significant expansion of its
portfolio and its enhanced free cash flow profile at a compelling multiple. These forward-looking statements are based upon the
current beliefs and expectations of management and involve certain risks and uncertainties, including (without limitation) risks
associated with changes to the financial conditions or the economic conditions in the areas in which Boyd Gaming operates; the
fact that Boyd Gaming's expansion projects are subject to many risks inherent in expansion, development or construction of a new
or existing project; competition; litigation; financial community and rating agency perceptions of Boyd Gaming and its
subsidiaries; changes in laws and regulations, including increased taxes; the availability and price of energy, weather,
regulation, economic, credit and capital market conditions; and the effects of war, terrorist or similar activity. Additional
factors are discussed in "Risk Factors" in Boyd Gaming's annual, periodic and current reports filed from time to time with the
Securities and Exchange Commission. 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.
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SOURCE Boyd Gaming Corporation