$ £

Boyd Completes Sale of Stake in Borgata to MGM Resorts

The Borgata Hotel, Casino, and Spa now fully belongs to MGM Resorts International after Boyd Gaming sold its remaining stake in New Jersey's most successful casino for $589 million.

The deal will see the Borgata resort being included in the sale, as well as the Water Club Hotel, which does not offer any gambling.

The sale money will go toward paying down Boyd's own debt and other purposes, and will also see the Nevada-based company getting 50% of any future tax settlement money that Atlantic City owes the Borgata for overages paid.

This is the second stint at Borgata ownership for MGM Resorts, which had previously decided to abandon the market for Macau, but was allowed back into its ownership stake after no buyer for its half of the Borgata could be facilitated.

1 reply • Last post


Fortune HunterFortune Hunter
sharpe's picture
Location: Sofia, Bulgaria
Joined: 4 Nov 2014
Posts: 1541
Thanks given: 287
Thanks received: 91
3 August 2016 - 12:24am

It's a huge deal obviously, Borgata is world famous casino and would be interesting if they would remain New Jersey's most successful casino under the new ownership of MGM Resorts and I guess the answer would be positive.

Post new comment

Have something to say? Agree or disagree? Tell us what you think!

Login using your social network account
Or log in with a Casino Listings account

Login or register to post comments

Registering for an account takes less than a minute and you will be brought right back here to comment afterwards.

Share this