Boyd Gaming pursues stations buyout

Despite a soft Q3 performance, Boyd Gaming remains serious about their intentions to acquire the bankrupt Station Casinos’ assets. While Boyd’s multi-billion dollar Echelon Place project remains on hold (for at least 3-5 more years according to recent reports), Boyd Gaming has been aggressive in their pursuit of a Stations buyout.

On Sunday, Boyd Gaming filed a new motion that would support the acquisition of an examiner. Station Casinos have, up to this point, refused to entertain offers. In October, they filed an extension of their exclusivity period which gives them an additional three months in which to design and present a viable reorganization plan. Boyd’s motion would bring in a third party that would weigh the reorganization plan against competing bids.

Boyd Gaming currently represents 16 casinos throughout the United States, including the four Las Vegas Coast casinos that compete with the Station Casinos for local business. Many analysts have suggested that Boyd Gaming’s weak position in the local market has been the company’s downfall and that their acquisition of the Station Casinos would give them an obvious leg up in the local sector.