Dania Jai-Alai in South Florida Sold for $65.5 Million
- Created: Friday, 01 March 2013 16:26
- Written by Matt Bourie
Boyd Gaming Corp. has announced that it will be selling Dania Jai-Alai in South Florida to Dania Entertainment Center, LLC, for $65.5 million in cash. Boyd Gaming had once planned to build a casino complex at the property. According to Boyd officials, the proceeds from the sale will be used for general corporate purposes, which includes repaying debts.
“Our company’s primary focus is on strengthening our balance sheet, and the sale of this non-strategic asset is another significant step toward that goal,” said Boyd Gaming CEO Keith Smith in a statement.
Florida casinos have been expanding recently, but opposition from groups like the Disney Corp., the Seminole Indian Tribe, and conservative religious groups has made it more difficult for casino plans to get off the ground.
The Dania Jai-Alai deal is expected to be completed in May.