LAS VEGAS, Nov. 16, 2012 /PRNewswire/ -- Boyd Gaming Corporation (NYSE: BYD) today announced that the Kansas Racing and Gaming Commission has approved the Company's proposed acquisition of Peninsula Gaming, LLC.
Boyd Gaming has now received all required regulatory approvals required to proceed with the acquisition. The transaction is expected to close on November 20, 2012.
"This is a significant milestone, and we look forward to welcoming the Peninsula team to Boyd Gaming," said Keith Smith, President and Chief Executive Officer of Boyd Gaming. "The acquisition of Peninsula Gaming will strengthen our Company financially by diversifying our operations, nearly doubling our free cash flow and delivering substantial value for our shareholders."
About Boyd Gaming
Headquartered in Las Vegas, Boyd Gaming Corporation (NYSE: BYD) is a leading diversified owner and operator of 17 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 include (without limitation) statements regarding the timing for the anticipated closing acquisition, the expected benefits of the acquisition, including through diversifying the Boyd Gaming's operations, strengthening Boyd Gaming financially and delivering value to Boyd Gaming's shareholders. Forward-looking statements involve certain risks and uncertainties, including (without limitation) risks and uncertainties encountered in integrating acquired businesses, 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 acquisition will not close on the expected terms, or at all; that Boyd Gaming is unable to successfully integrate the acquired assets or capture synergies; 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 credit markets, 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 September 30, 2012, 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 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.
SOURCE Boyd Gaming Corporation