Brandon C. Parris
Mergers + Acquisitions
MoFo News Item
Morrison & Foerster LLP is advising Boyd Gaming Corporation in its acquisition of four Pinnacle Entertainment, Inc. properties – Ameristar St. Charles, Ameristar Kansas City, Belterra Casino Resort and Belterra Park for cash consideration of approximately $575 million. Boyd Gaming’s acquisition of the four Pinnacle properties is in connection with Penn National Gaming, Inc.’s $2.8 billion acquisition of Pinnacle.
Boyd Gaming will enter into a master lease agreement with Gaming and Leisure Properties, Inc. (GLPI), which owns the real estate of Ameristar St. Charles, Ameristar Kansas City and Belterra Casino Resort. Separately, GLPI has entered into an agreement to purchase the real estate of Belterra Park from Penn National, and Belterra Park's real estate will be leased to Boyd Gaming as part of its master lease agreement with GLPI.
The transactions are expected to close during the second half of 2018 and are subject to the satisfaction of customary closing conditions and regulatory approvals. The MoFo team advising Boyd Gaming is led by San Francisco Corporate Partner Brandon C. Parris.
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