M&A Deal Summary

Boyd Gaming Acquires Cannery Casino Resorts - Las Vegas Assets

On April 25, 2016, Boyd Gaming acquired leisure company Cannery Casino Resorts - Las Vegas Assets from Cannery Casino Resorts for 230M USD

Acquisition Highlights
  • This is Boyd Gaming’s 2nd transaction in the Leisure sector.
  • This is Boyd Gaming’s 3rd largest (disclosed) transaction.
  • This is Boyd Gaming’s 3rd transaction in the United States.
  • This is Boyd Gaming’s 2nd transaction in Nevada.

M&A Deal Summary
Date 2016-04-25
Target Cannery Casino Resorts - Las Vegas Assets
Sector Leisure
Buyer(s) Boyd Gaming
Sellers(s) Cannery Casino Resorts
Deal Type Divestiture
Deal Value 230M USD
Advisor(s) Stifel, Nicolaus & Co., Inc. (Financial)

Target

Cannery Casino Resorts - Las Vegas Assets

Las Vegas, Nevada, United States
Cannery Casino Resorts - Las Vegas Assets located in North Las Vegas, and Eastside Cannery Casino and Hotel, located adjacent to Sam's Town Hotel & Gambling Hall on Boulder Highway in the eastern part of the Las Vegas Valley. Casino features an 80,000-square-foot casino, a 200-room hotel, five restaurants and five bars, a 30,000-square-foot entertainment venue, and a 14-screen movie theater. Eastside Cannery has a 64,000-square-foot casino, more than 300 hotel rooms, five restaurants and four bars, 20,000 square feet of meeting and ballroom space, and a 250-seat entertainment lounge.

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Buyer(S) 1

Buyer

Boyd Gaming

Las Vegas, Nevada, United States
Category Company
Founded 1975
Sector Gaming
Employees16,129
Revenue 3.7B USD (2023)
DESCRIPTION
Boyd Gaming's corporate headquarters in Las Vegas, Nevada.
Boyd Gaming's corporate headquarters in Las Vegas, Nevada.

Boyd Gaming is a casino entertainment company. Boyd Gaming was incorporated in 1975 and is based in Las Vegas, Nevada.

DEAL STATS #
Overall 3 of 6
Sector (Leisure) 2 of 2
Type (Divestiture) 1 of 1
State (Nevada) 2 of 2
Country (United States) 3 of 6
Year (2016) 1 of 1
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-16 Peninsula Gaming

Dubuque, Iowa, United States

Peninsula Gaming LLC consists of the Kansas Star Casino near Wichita, Kansas; Diamond Jo Casino in Dubuque, Iowa; Diamond Jo Worth in Northwood, Iowa; Evangeline Downs Racetrack & Casino in Opelousas, Louisiana; and Amelia Belle Casino in Amelia, Louisiana.

Buy $1.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-31 Marina District Development

Atlantic City, New Jersey, United States

Marina District Development Co. LLC ( Borgata Hotel Casino & Spa) is an owns and operator of casino and spa.

Sell -

Seller(S) 1

SELLER

Cannery Casino Resorts

Las Vegas, Nevada, United States
Category Company
Founded 2001
Sector Gaming
DESCRIPTION

Cannery Casino Resorts LLC owns and operates hotels and casinos.

DEAL STATS #
Overall 2 of 2
Sector (Leisure) 1 of 1
Type (Divestiture) 2 of 2
State (Nevada) 1 of 1
Country (United States) 2 of 2
Year (2016) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-16 The Meadows Racetrack and Casino

Washington, Pennsylvania, United States

The Meadows Racetrack and Casino is a casino and pari-mutuel gaming that includes approximately 3,170 gaming devices, 74 table games, 11 poker tables, and a 5/8 mile harness horse racetrack with a 500-seat grandstand.

Sell $440M
Mergr

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