🎰 Boyd Gaming to sell its remaining stake in Atlantic City's Borgata | Hotel Management

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Boyd Gaming's most ambitious expansion project came in , when the company opened the $ billion Borgata Hotel Casino in Atlantic City, N.J. A joint.


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ATLANTIC CITY — Boyd Gaming Corp., operator and half-owner of Borgata Hotel Casino & Spa, has decided not to buy the rest of Atlantic.


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and MGM Mirage opened Atlantic City's first [+] casino and hotel since Photographer: Jeff Zelevansky/ Bloomberg News. "While we are.


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Boyd Gaming Corp. is selling its percent stake in Atlantic City's Borgata Hotel Casino & Spa to its partner, MGM Resorts International.


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Boyd Gaming completed the sale of its half of Atlantic City's Borgata casino on Monday to MGM Resorts International. Nevada-based Boyd said.


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ATLANTIC CITY - Boyd Gaming said Tuesday it's selling its 50 percent stake in Atlantic City's top casino to MGM Resorts International, which.


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ATLANTIC CITY - Boyd Gaming said Tuesday it's selling its 50 percent stake in Atlantic City's top casino to MGM Resorts International, which.


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ATLANTIC CITY — Boyd Gaming Corp., operator and half-owner of Borgata Hotel Casino & Spa, has decided not to buy the rest of Atlantic.


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Boyd Gaming Corp. is selling its percent stake in Atlantic City's Borgata Hotel Casino & Spa to its partner, MGM Resorts International.


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Most Popular. Analysts were not surprised by Boyd's decision, noting that Borgata and the rest of the Atlantic City market have suffered from the weak economy and intense competition from Pennsylvania's casinos. Get Started. We hope that you continue to enjoy our free content. Sign Up. More Latest Local Offers. Comment Text. Toggle navigation Menu. Keep it Clean. Be Nice. Order your copy today. Unlimited access to every article, video and piece of online content Exclusive, locally-focused reporting News delivered straight to your inbox via e-newsletters Includes digital delivery of daily e-edition via email. There must be details we don't know about. Log In Get Offer. Don't knowingly lie about anyone or anything. Feldman, however, could not say whether Boyd's decision to pass on MGM's stake in Borgata would open the door for possibly even more bidders to make an offer. Sign Up Today. Don't Threaten. Purchase a Subscription. Joseph backers say Camden Diocese has rejected their offer to buy school, fields. Get an email notification whenever someone contributes to the discussion. Atlantic City Boardwalk: A stroll through history. Log In. Watch this discussion. Notifications from this discussion will be disabled. Press photo, October DWittkowski pressofac. Your current subscription does not provide access to this content. Even worse, gross operating profits plunged Boyd developed the casino and oversees its daily operations. Sorry , no promotional deals were found matching that code. Your ultimate resource guide to the science, storms and history of weather in South Jersey. You must be a digital subscriber to view this article. If you already have an account i. Boyd's announcement was made at the same time that it released a gloomy third-quarter earnings report. Penn National Gaming Inc. Support Open Local Businesses. Breaking News Subscribe.{/INSERTKEYS}{/PARAGRAPH} {PARAGRAPH}{INSERTKEYS}Your sports-only digital subscription does not include access to this section. An investment in Borgata would follow Leonard Green's failed attempt to buy a controlling stake in the troubled M Resort casino hotel in Las Vegas in partnership with the property's founding Marnell family. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language. Keith Smith, Boyd's president and chief executive officer, played down that kind of speculation during a conference call Monday. Log In Create an account or activate digital Sign Up. Post a comment. A Press series in which local notables take us on a tour of a favorite spot in their home. Don't have an account? Get Offer. Please log in, or sign up for a new account to continue reading. The commenting option is not going away, however, readers will need to register for a FREE site account to continue sharing their thoughts and feedback on stories. Despite this decision, we are confident in the future of Borgata," Boyd said in a statement Monday. Smith said he expects no changes in Borgata's operating and partnership agreement when the new investor comes in to replace MGM. I think Boyd is reluctant to double down in that market, given the trends we've seen in the last several years. The buyer of MGM's interest would take on half that debt. The Las Vegas-based company had first rights to acquire the remaining half of Borgata from co-owner MGM Resorts International but will not exercise that option. Relive Years of Miss America: A century of history. Use the 'Report' link on each comment to let us know of abusive posts. Perkins said Boyd's decision on Borgata suggests the company may be looking to resume work on its stalled, multibillion-dollar Echelon casino hotel project in Las Vegas, among other options. The company is pulling out of Atlantic City rather than severing its ties to Hong Kong businesswoman Pansy Ho, whom the New Jersey Division of Gaming Enforcement has labeled an "unsuitable" partner in the Macau casino because of her father Stanley's alleged links to Asian organized crime. Matthew Jacob, a gaming analyst for Majestic Research, said Boyd may now look to sell its share in Borgata, too. Already have access? MGM is selling its share of Borgata to settle objections from New Jersey gaming regulators over its partnership in a Macau casino. Get up-to-the-minute news sent straight to your device. Be Truthful. No racism, sexism or any sort of -ism that is degrading to another person. A yearlong series examining the city's path forward. There must be something I don't understand, because no one would ever get that kind of return. Related story : Borgata Casino lays off 3 percent of Atlantic City workforce. You must be a full digital subscriber to read this article. Stop watching this discussion. Find Offers. Start watching Stop watching. Threats of harming another person will not be tolerated. A press spokesman for Leonard Green did not return telephone and e-mail messages seeking comment. Share with Us. In my opinion, this decision doesn't diminish in any way, shape or form their current level of investment in this market," Perkins added. Be Proactive. Welcome to the discussion. Create an account or activate digital Get Started. Promotional Rates were found for your code. Notifications Settings. We'd love to hear eyewitness accounts, the history behind an article.