Jun 1 '16 at 16:40
Big news in Atlantic City as MGM announced a deal to purchase Boyd's 50% stake in the @Borgata Hotel Casino and Spa. The deal is for $900million as well as 50% of any future tax settlement with the state. Boyd will receive $600 million and then shift a bunch of debt over to MGM/Borgata, which presumably makes up the $300 million difference.
<br/> <strong>Boyd Gaming sells its 50 percent stake in Borgata to MGM Resorts</strong><br/> <i>Las Vegas Review-Journal</i><br/><br/>http://www.reviewjournal.com/business/casinos-gaming/boyd-gaming-sells-its-50-percent-stake-borgata-mgm-resorts