Boyd Gaming Acquires Barbary Coast Land
LAS VEGAS, NV, September 6, 2005. Boyd Gaming Corporation today announced that the Company has completed the purchase of the land on which the Barbary Coast Hotel and Casino in Las Vegas is located. The parcel, which is nearly two acres and had been subject to a long-term land lease, was purchased for $15.7 million. When combined with an adjoining parcel that has been owned by the Company for several years, the Company owns 4.3 acres on the corner of Flamingo Road and Las Vegas Boulevard, one of the premier intersections for gaming entertainment and home to some of the best known resorts in the world.
William S. Boyd, Chairman and Chief Executive Officer of Boyd Gaming, said, "This purchase greatly expands our development possibilities on the Barbary Coast site. While we have no plans in the near term, having full ownership of the entire property at such a premier location greatly enhances the number of development options we have when we are ready to redevelop the property."
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include information regarding the Company's expectations, goals or intentions regarding the future, including the possibility of future development, and enhanced development options, on the Barbary Coast site. Forward-looking statements involve certain risks and uncertainties, and actual results may differ materially from those discussed in any such statement. In particular, there can be no assurances that the Company will redevelop the property on the Barbary Coast site. All forward-looking statements in this document are made as of the date hereof, based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward- looking statement.
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