It’s been talked about now for over 2 years, but it appears Belterra Casino and Resort will have new owners by the end of 2018.
Pinnacle Entertainment, Inc., the current owners of Belterra have entered into an agreement with Penn National Gaming Inc. that will cause Belterra and several other properties owned by the corporation to be sold to Boyd Gaming Corporation which is also based out of Las Vegas.
According to a press release from Pinnacle, Penn National will acquire Pinnacle in a cash and stock deal that values out at $2.8 billion. With that transaction, an agreement is in place that Boyd Gaming will purchase Pinnacle’s gaming operations at Belterra Casino and Resort, Ameristar Kansas City, Ameristar St. Charles and Belterra Park in Cincinnati, for around $575 million.
The divestitures are all conditioned upon the completion of the Pinnacle acquisition by Penn National.
Boyd Gaming Corporation is a diversified owner and operator of 24 gaming entertainment properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi. In the hoosier state, Boyd owns Blue Chip Casino, Hotel and Spa in Michigan City.