MoFo Advises on Largest Gaming and Hospitality Deal in 2016
Demonstrating the breadth of Morrison & Foerster’s M&A and Real Estate practices, MoFo advised on four of the 10 largest gaming and hospitality deals in 2016—more than any other law firm, according to Law360—as well as the largest gaming and hospitality deal of the year: Boyd Gaming’s sale of a 50 percent stake in the Borgata Hotel Casino & Spa, a deal that valued Borgata at $1.8 billion. Read the full article.
A San Francisco-based M&A team advised Boyd Gaming on the 2016 sale of Borgata, as well as advising Boyd Gaming on its $400 million purchase of the Aliante Casino Hotel and Spa in Las Vegas; its $230 million acquisition of the Cannery Casino Hotel in North Las Vegas; and the Eastside Cannery Casino and Hotel in the eastern part of the Las Vegas Valley. The same MoFo team advised the Special Committee of the Independent Directors of Affinity Gaming on its $580 million take-private leveraged buyout by affiliates of Z Capital, announced in August 2016 (and closed in January 2017).
San Francisco corporate partner Brandon C. Parris led the MoFo M&A teams on all of the Boyd Gaming and Affinity Gaming transactions, together with Jeff Washenko, Mike O’Bryan, Mike Krigbaum, Ali Assareh, Greg LeSaint, and Jae In Yoo, among many others.
Law360 also highlighted MoFo’s Real Estate practice for its work on RIDA Development selling a minority stake in Gaylord Rockies Resort and Convention Center in Aurora, Colorado; and the joint venture of Geolo Capital, Greenoaks Capital Management, Downtown Properties, and CCL Holdings selling a Miami Beach, Florida hotel. New York real estate partner Jeffrey Temple led the team representing RIDA Development, with support from Monica Guzikowski and Eric Pincow.
This Law360 article is the latest of a number of accolades the firm has received for its work. In 2016, MoFo advised on 165 transactions in excess of $294 billion, and was recognized as a top five M&A Practice Group of the Year by Law360.