Boyd Trying To Buy Station Casinos

Boyd Gaming delivered a proposal to the executives of Station Casinos on December 16th, offering to purchase Station Casinos. Boyd is proposing to buy all of Station's 18 casinos, some land and other assets for $2.45 billion in cash and assumed debt. Station is currently in bankruptcy and owes $6.8 billion in debt. The deal would give Boyd Gaming 22 casinos in the locals market and three in downtown. The Review-Journal reports that gaming regulators are reviewing the transaction and whether the deal raises antitrust issues.

Boyd has raised the ante in this game. We'll see what card Station plays next.

John Laub is the CEO/Founder of the CEO-CFO Group.

1. "Boyd, State Discuss Station Bid." Arnold M. Knightly. Las Vegas Review-Journal. December 19, 2009.

2. 8K. Boyd Gaming Corporation. Filed December 16, 2009.