Dubuque casino company sold - KWWL - Eastern Iowa Breaking News, Weather, Closings

Dubuque casino company sold

Dubuque casino company sold

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DUBUQUE (KWWL) -

Boyd Gaming Corporation of Nevada announced Wednesday that it is buying Peninsula Gaming LLC for $1.45 billion. Peninsula owns the Diamond Jo casinos in Iowa.

The deal will add five casinos to Boyd's operations. One is in Kansas, two in Iowa and two in Louisiana. Boyd Gaming said those markets show some of the strongest growth in the country.

The deal should close by the end of the year. CEO Keith Smith says the purchase is expected to immediately boost Boyd's profits and cash flow.

"The properties operate in locations with limited gaming supply and stable tax and regulatory environments, resulting in attractive (profit) margins," Smith said in a statement.

Boyd Gaming owns 16 casinos in Nevada, Illinois, Louisiana, Mississippi, Indiana, and New Jersey.

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