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The Chip Board Archive 20

(NCR) Boyd Gaming board meeting

The board of directors of Boyd Gaming will have a special meeting later this week to consider the following. First whether or not to exercise their right of first refusal regarding purchasing MGM MIRAGE's 50 percent interest in the Borgata in Atlantic City or let MGM MIRAGE sell their interest to a third party while Boyd retains majority ownership and management of the casino's day to day operations. Second to make a decision on the fate of the Dania Jai-Alai fronton in Dania Beach, Florida which has been losing money out the wazoo due to the fact that they have been unable to install slot machines because they are required to pay 50 percent of their net income to the State of Florida as part of an imposed gambling tax which Boyd feels is unreasonable and would cause a futher strain on its profitability and even though the Dania poker room itself has shown a marginal profit the game of Jai-alai has not and as a result the gate has been close to nil resulting in small layoffs and change of live gaming scheduling. The International Jai-Alai Players Association, UAW Local 8868 which represents Jai-Alai players in the United States recently said in a statement that it will fight any changes that adversely affect its membership.

Copyright 2022 David Spragg