Boyd Gaming Gets $350M For Lot On Vegas Strip

Law360, Los Angeles (March 4, 2013, 7:04 PM EST) -- Boyd Gaming Corp. on Monday sold the site of its stalled development on the Las Vegas Strip to Malaysian conglomerate Genting Group for $350 million in cash, pocketing about $157 million in net proceeds, the Nevada-based company said in a statement.

The transaction, which closed Monday, includes the 87-acre land parcel and improvements to the site, Boyd said. Part of the proceeds will pay off Boyd’s obligations to LVE Energy Partners LLC. 

"Our highest priority is strengthening our balance sheet," Boyd Gaming CEO Keith Smith said...
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