MGM Resorts completes acquisition of Boyd Gaming's Borgata stake

MGM Resorts International has completed its previously announced acquisition of Boyd Gaming Corporation’s 50% stake in Borgata Hotel Casino and Spa, for an approximate total of $900m. MGM Resorts paid $589m in cash for the transaction, following consideration of Borgata’s outstanding debts of $575m. Boyd Gaming has confirmed its intention to use the proceeds of the sale for “debt reduction and general corporate purposes.” Although MGM ...