Boyd Gaming to acquire Lattner Entertainment Group

2 May 2018

(PRESS RELEASE) -- Boyd Gaming Corporation (NYSE: BYD) today announced that it has entered into a definitive agreement to acquire Lattner Entertainment Group Illinois, LLC, for total cash consideration of $100 million. Lattner currently operates nearly 1,000 gaming units in 220 locations across the state of Illinois.

The purchase price represents an implied multiple of approximately eight times Adjusted EBITDA, including incremental growth opportunities and expected cost synergies. The company anticipates the acquisition will be free cash flow positive and immediately accretive to earnings.

Keith Smith, President and Chief Executive Officer of Boyd Gaming, said, "The acquisition of Lattner is a strategic opportunity to further diversify and expand our business. Lattner will provide us a valuable new avenue to access gaming customers, and a platform to participate in the expansion of distributed gaming. We are excited to welcome the Lattner team to Boyd Gaming, and look forward to establishing ourselves as one of the leading distributed gaming operators in the country."

The transaction is expected to close by the end of the second quarter of 2018, subject to the satisfaction of customary closing conditions and the receipt of all required regulatory approvals. The company intends to finance the transaction through cash flow from operations and availability under its existing credit facility.

Morrison & Foerster LLP served as legal advisor to Boyd Gaming for the transaction. Wells Fargo Securities served as exclusive financial advisor and Koley Jessen served as legal advisor to Lattner during the transaction.

Related Links

Featured Vendors
TribalHub
Casino City Press
TribalHub
22nd Annual TribalNet Conference & Tradeshow Nov 8-11, 2021 Gaylord Texan Resort, Grapevine TX
Casino City Press
A leading publisher and distributor of casino and gaming business data and market research reports.
Gaming Tickets, Inc.
Slot Machines Unlimited
Gaming Tickets, Inc.
35 years in the gaming industry - premium quality slot tickets, lottery tickets on time under budget
Slot Machines Unlimited
Exporter of IGT, Williams, AVP, Trimline, Aristocrat, Konami, Bally, & parts over 20 yrs experience
Broadband Hospitality
Casino Network
Broadband Hospitality
Improve these critical guest-facing amenities: In-room TV, Wi-Fi, Mobile App. Priced right. All here
Casino Network
20+ years experience selling refurbished slot machines, parts & glass for all major brands
Slot-Tickets Worldwide
RSA Executive Search
Slot-Tickets Worldwide
Slot-Tickets® Worldwide, The Original and Still the Best.
RSA Executive Search
A Boutique Search firm specializing in the Recruitment of Hospitality and Gaming Entrepreneurs
Casino Essentials
Betson Imperial Parts & Service
Casino Essentials
The Ultimate Online Training Platform for the Casino Industry
Betson Imperial Parts & Service
You one stop shop for all your gaming and OEM needs!
Casino Schedule Ease
Castle Merchandising Inc
Casino Schedule Ease
Get a 90-Day Free Trial of 100% contactless, customizable table game & full casino scheduling
Castle Merchandising Inc
Brand Name Products for your Player Rewards and Loyalty Programs
Rymax Marketing Services, Inc.
Bar Maid Corporation
Rymax Marketing Services, Inc.
Leader in creating award winning player & employee loyalty programs & events proven to increase ROI
Bar Maid Corporation
Clean and dry thousands of chips, dice and tiles per hour with the high-speed CHIP CHAMPION machine!
Breathe Easy with Smokefree Casinos- a project of the American Nonsmokers’ Rights Foundation
Breathe Easy with Smokefree Casinos- a project of the American Nonsmokers’ Rights Foundation
Breathe easier during COVID-19. We can help you reopen smokefree for everyone’s health.


Your Guide to 15,635 Gaming Industry Suppliers