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
Boyd Gaming Corporation Gaming Vendor Information

Featured Vendors
Rymax Marketing Services, Inc.
Sunkist Graphics, Inc.
Rymax Marketing Services, Inc.
Leader in creating award winning player & employee loyalty programs & events proven to increase ROI
Sunkist Graphics, Inc.
Specializing in the creation of best-of-breed gaming graphics - slot glass, sign faces, and more
New Level Radio
Oklahoma Indian Gaming Association (OIGA) Conference
New Level Radio
Your Casino. Your Music. Your Message.
Oklahoma Indian Gaming Association (OIGA) Conference
The biggest little show in Indian gaming! Save the date: Aug 9-11, 2022 in Tulsa!
Casino Network
Broadband Hospitality
Casino Network
20+ years experience selling refurbished slot machines, parts & glass for all major brands
Broadband Hospitality
Improve these critical guest-facing amenities: In-room TV, Wi-Fi, Mobile App. Priced right. All here
Global Gaming Expo (G2E)
Betson Imperial Parts & Service
Global Gaming Expo (G2E)
The largest gathering of global, commercial and tribal gaming professionals in North America.
Betson Imperial Parts & Service
Your one stop shop for all your gaming and OEM needs!
Casino Schedule Ease
TOP ONE TECH LIMITED
Casino Schedule Ease
Get a 90-Day Free Trial of 100% contactless, customizable table game & full casino scheduling
TOP ONE TECH LIMITED
GLOBAL TOUCH SOLUTION PARTNER OF CHOICE,10+ years OEM manufacturing,100+ thousand units application
Casino City Press
.Dot-iGaming.com
Casino City Press
A leading publisher and distributor of casino and gaming business data and market research reports.
.Dot-iGaming.com
Fully loaded advanced casino platform. One time (low) fee, 100% your property, start now!
Slot Machines Unlimited
AmericanChecked
Slot Machines Unlimited
Exporter of IGT, Williams, AVP, Trimline, Aristocrat, Konami, Bally, & parts over 20 yrs experience
AmericanChecked
Background checks for the gaming industry with key & non-key packages & fingerprinting solutions
Talisman Group Creators of EZ Baccarat
TDN Money Systems
Talisman Group Creators of EZ Baccarat
With over 800 tables in 150+ casinos, EZ Baccarat is the number one brand in baccarat.
TDN Money Systems
Cage, cash/chip handling experts representing CountR, ARCA, AccuCASH, Fujitsu & NCR
Imagine This
Kallop
Imagine This
Imagine This #1 Source for Player Gifts. Over $50 million in stock ready to ship! Let us serve you!
Kallop
Reward every play like a VIP with exclusive luxury brands at affordable prices.


Your Guide to 15,289 Gaming Industry Suppliers