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Boyd fetches $65.5 million in Dania Beach sale

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Las Vegas-based Boyd Gaming Corp., a part owner of Atlantic City’s Borgata, announced today it will sell assets of Dania Jai-Alai, in Dania Beach, Fla., to Dania Entertainment Center LLC in a $65.5 million cash deal.

As part of the agreement, Dania Entertainment agreed to dismiss a lawsuit it filed in November 2011, following Boyd’s termination of the initial sale agreement. As part of the agreement, the $7 million deposit previously paid by Dania Entertainment to Boyd Gaming will be applied to the purchase price.

In a news release, Boyd said it intends to use proceeds for general corporate purposes, including the repayment of debt.

 

 

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