Operator News
US – Pennsylvania approves Valley Forge transfer to Boyd
By Phil - 5 April 2018
The Pennsylvania Gaming Control Board has approved the Change of Control of the Category 3 Slot Machine Licensee Valley Forge Convention Center Partners, operator of the Valley Forge Casino Resort in Montgomery County, to Boyd Gaming Corporation.
Under the agreement, the license held since March 2011 by Valley Forge Convention Center Partners, L.P. will be transferred to Boyd Gaming Corporation., a publicly traded company based in Las Vegas, NV. While body Gaming operates more than 20 casinos in the United States, it is their first Pennsylvania casino property.
The Board also included in its approval that Boyd Gaming must pay to the Commonwealth a change of control fee of $1.35m.
Boyd CEO Keith Smith said: “With this acquisition, we will expand into the second-largest gaming state in the country, establishing a presence in a densely populated, high-traffic area just west of Philadelphia.”
“And thanks to Pennsylvania’s recent passage of gaming expansion legislation, there are new opportunities to drive incremental growth at Valley Forge through the expansion of the property’s slot capacity and the introduction of new forms of gaming.”
