In September, Boyd completed a $280.5 million acquisition of the Valley Forge Casino Resort near Philadelphia. We have gained a strong presence in three of the Midwest’s largest gaming markets, with access to millions of potential new customers.” CEO Keith Smith and the company’s purchase “significantly expanded our portfolio and enhanced our free cash flow profile at a compelling multiple. “With the expected incremental free cash flow to be generated from our expanded base of operations, we believe we are well positioned to reduce leverage, evaluate additional accretive strategic growth investments and opportunistically return capital to shareholders.īoyd is buying Pinnacle’s two Ameristar casinos in Missouri and the Belterra gaming brands in Indiana and Ohio. “Penn National is poised for continued growth with a portfolio of premiere gaming facilities and more than five million active customers in its player rewards database,” Wilmott said in a statement.
