Expansion Capitalizes on Property’s Success, Growing Demand in Region
LAS VEGAS, June 30, 2015 — Boyd Gaming Corporation (NYSE: BYD) today announced a $45 million expansion of Delta Downs Racetrack Casino Hotel in Vinton, Louisiana.
Set for completion at the end of 2016, the centerpiece of the project is a new hotel tower, featuring 167 additional guest rooms and suites. Boyd Gaming also plans to redesign all 200 existing rooms at the property, providing a fresh new look and feel to the hotel.
The property will also redesign its food and beverage facilities, as well as expand its special events center to better accommodate meeting and banquet functions.
“Delta Downs is extremely popular with our guests, and demand exceeds what we can accommodate with our current facility,” said Keith Smith, President and Chief Executive Officer of Boyd Gaming. “With 370 rooms and suites, Delta Downs will be better positioned to meet this growing demand, giving us the opportunity to extend our unique brand of hospitality to more visitors than ever before.”
“With our new amenities, we’ll be giving our guests more options to enjoy, and more reasons to visit,” Smith said. “And by creating a broader entertainment experience, we are confident we’ll attract many new guests to the new Delta Downs.”
Design work is now being completed, with construction slated to commence this September.
“Delta Downs is one of our Company’s strongest performing properties, serving one of the most economically vibrant regions of the country,” Smith said. “This project is consistent with our ongoing strategy of diversifying and strengthening our non-gaming amenities, and we believe it will deliver a solid return on investment for our shareholders.”
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. Forward-looking statements can often be identified by their use of words such as “scheduled,” “expects,” “will,” “believe,” “plan,” and “potential,” as well as variations of those words and other comparable words and phrases referencing the future. Such statements include information regarding the Company’s plans, expectations, goals and intentions regarding the future, including but not limited to statements regarding the Company’s planned expansion of Delta Downs and the individual components of the expansion project. Forward-looking statements also include statements regarding the anticipated cost and timing of construction and completion of the expansion project and its individual components, the expected size, scope, designs, features (including, but not limited to, the number of rooms and additional facilities), the Company’s expectation that the expansion project will increase visitation at Delta Downs, will attract new guests, and the Company’s belief that it will deliver a solid return to the Company’s shareholders. Forward-looking statements involve certain risks and uncertainties, and actual results may differ materially from those discussed in any such statement. The Company can provide no assurances that the Delta Downs expansion project will be completed within the Company’s current timing or cost estimates, include all of the anticipated amenities, features, or facilities, or that it will achieve market acceptance. All references to cost estimates, expected size, scope, designs, features (including, but not limited to, the number of rooms and additional facilities) and the various amenities and its constituent parts are based on the Company’s current estimates and plans, and are all subject to change. In addition, the Delta Downs expansion project is subject to those risks inherent in the development and operation of an expanded business, including unanticipated design, construction, regulatory, environmental and operating problems and lack of demand. Once the expanded project is complete, it will face many of the same risks that the Company’s current properties face. The Company’s anticipated costs and construction period for the project are based upon budgets, conceptual design documents and construction schedule estimates prepared by the Company in consultation with its architects and contractors. The cost of any project, including the Delta Downs expansion project, may vary significantly from the Company’s expectations. In addition to the ability to obtain necessary permits, competition, increased costs (including marketing costs), financial community and rating agency perceptions of the Company, changes in laws and regulations, including increased taxes, the availability and price of energy and fuel, 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 from those expressed in forward-looking statements are discussed in the Company’s current and periodic reports filed from time to time with the Securities and Exchange Commission. All forward- looking statements in this press release 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.
