Boyd Gaming to Acquire Florida Jai Alai Operation for Future Casino Development

LAS VEGAS, May 31 /PRNewswire-FirstCall/ -- Boyd Gaming Corporation announced today that it has agreed to purchase Dania Jai Alai, including approximately 50 acres of related land, for $152.5 million, subject to certain closing conditions and regulatory approvals.

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Located near the Fort Lauderdale International Airport and the Broward County Convention Center and in close proximity to the major population centers of South Florida, Dania Jai Alai is one of four facilities approved under Florida law to operate 1,500 Class III slot machines. The enabling legislation was signed into law in January, and the Florida Department of Business and Professional Regulation's Pari-Mutuel Wagering Division is expected to approve final regulations by July 2006.

William S. Boyd, Chairman and Chief Executive Officer of Boyd Gaming, commented on the acquisition, "We are thrilled to have the opportunity to expand our brand of casino entertainment into the Florida market. Our facility will offer the latest in slot machine games, as well as many new and exciting amenities that have become an important part of today's casino entertainment product. As the closest gaming facility to Fort Lauderdale, we believe that the combination of our location and a first-class gaming experience will make our development a top choice for the nearby population centers. As we do in all of the communities where we operate, we look forward to working with local officials in making our facility the best it can be."

The Company has begun work on a master plan design, which will include an expansive gaming floor, poker room, a variety of restaurants, and entertainment lounges. In addition to the casino facility, the Company will continue to offer off-track-betting and live jai alai performances and wagering.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements contain words such as "will," "expect," "believe," or the negative thereof or comparable terminology, and may include (without limitation) information regarding the Company's expectations, goals or intentions regarding the future, including but not limited to statements regarding the Company's proposed acquisition of Dania Jai Alai and the adjacent property and the expectation that applicable regulations will be finalized by July 2006. Forward-looking statements also include statements regarding the expansion of the Company's brand of casino entertainment into the Florida market, the amount and type of expected amenities at the new facility (including those contemplated by the master plan design), benefits of the facility's location, the Company's ability to offer a first-class gaming experience and the belief that the new facility will be a top choice for nearby population centers. Forward-looking statements involve certain risks and uncertainties, and actual results may differ materially from those discussed in any such statement. In particular, the Company can provide no assurances that the conditions to the acquisition of Dania Jai Alai will be satisfied, that the necessary regulatory approvals will be obtained, or that if the acquisition closes, the new facility will include all of the anticipated amenities or features or achieve market acceptance. Risks that could affect forward-looking statements also include those related to the inability to successfully integrate Dania Jai Alai, the risk of actual or potential litigation, competition, increased costs (including marketing costs), changes in laws and regulations, weather, economic, credit and capital market conditions and the effects of war, terrorist or similar activity. Additional factors that could cause actual results to differ are discussed under the heading "Risk Factors" and in other sections of the Company's Form 10-K for the fiscal year ended December 31, 2005 on file with the Securities and Exchange Commission, and in its other current and periodic reports filed from time to time with the Commission. All forward-looking statements in this document are made as of the date hereof, based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward-looking statement.

Headquartered in Las Vegas, Boyd Gaming Corporation is a leading diversified owner and operator of 19 gaming entertainment properties located in Nevada, New Jersey, Mississippi, Illinois, Indiana and Louisiana. The Company is also developing Echelon Place, a world class destination on the Las Vegas Strip, expected to open in early 2010. Additionally, the Company was recently recognized by Forbes Magazine as the best managed company in the category of Hotels, Restaurant and Leisure. Boyd Gaming press releases are available at http://www.prnewswire.com/. Additional news and information on Boyd Gaming can be found at http://www.boydgaming.com/ .