Boyd Gaming Corp. (BYD) said Monday that its previously announced sale of the Echelon site has closed.
Earlier Monday, Boyd Gaming said it has entered into a definitive agreement to sell the Echelon site to the Genting Group for $350 million in cash. The company expects to receive about $157 million in net proceeds from the transaction.
Boyd Gaming's latest quarterly results were hurt by a one-time, non-cash pretax impairment charge of about $994 million related to its decision not to proceed with development of the Echelon site.
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