Boyd Gaming To Buy Delta Downs

Boyd Gaming announced today it has agreed to acquire Delta Downs racetrack for between $115 million and $125 million.

The publicly held Las Vegas casino company (NYSE:BYD) is interested in Delta Downs because it is eligible under Louisiana law to run slot machines. The racetrack, which is in middle of building a casino with a 670-seat buffet and sports bar, is waiting on final regulatory approval and licensing for its slot operation.

Boyd Gaming said it expects to have those approvals by the end of summer.

"We are very pleased to have the opportunity to bring land-based gaming close to the West Louisiana and Southeast Texas markets," said William Boyd, chairman and chief executive officer of Boyd Gaming. "The addition of the casino allows us to significantly enhance the horse racing operations at Delta Downs."

Delta Downs is located on 200 acres near Vinton, La. The racetrack has an 82,000 square-foot, four-story clubhouse with seating for 2,600 and a total capacity of 5,000.