Boyd Gaming, Wilton Rancheria To Commence Construction On Casino Project In Elk Grove, California
Boyd Gaming Corporation (NYSE: BYD) and the Wilton Rancheria Tribe have announced plans to commence construction of a gaming resort in Elk Grove, California, with groundbreaking scheduled for March 9, 2021. The resort, strategically located 15 miles south of Sacramento, aims to open in the second half of 2022, offering 2,000 slot machines and over 80 table games. Financing has been secured, marking a significant step towards realizing the tribe’s vision for economic self-sufficiency and community investment.
- Groundbreaking scheduled for March 9, 2021, signaling project progress.
- Casino to be the closest to Sacramento and South Bay area, enhancing market presence.
- Secured full project financing, indicating financial stability for construction.
- Expected to create economic opportunities for the Wilton Rancheria Tribe's over 800 members.
- Construction risks associated with project timelines and execution.
- Potential for Boyd not realizing growth opportunities as anticipated.
LAS VEGAS, March 2, 2021 /PRNewswire/ -- Boyd Gaming Corporation (NYSE: BYD) and the Wilton Rancheria Tribe today announced plans to break ground on the tribe's gaming resort in Elk Grove, California, on Tuesday, March 9, with construction commencing shortly thereafter.
Located 15 miles south of downtown Sacramento, the property will be the closest casino to both Sacramento and the south Bay area upon opening. Developed and managed by Boyd Gaming on behalf of the Wilton Tribe, the casino is scheduled to open to the public in the second half of 2022. The tribe has secured full project financing from a third party.
"Today we celebrate the hard-fought determination of generations of Tribal members to create a future of dignity and self-sufficiency for Wilton Rancheria," said Wilton Tribal Chair Jesus Tarango. "This will be a transformative project that will provide resources to invest in housing, education, and healthcare for our more than 800 members, to preserve our language and culture, and to give back to the community for decades to come."
"Next week's groundbreaking will be a key milestone in Wilton Rancheria's and Boyd Gaming's shared commitment to creating an exceptional gaming experience in northern California," said Keith Smith, President and Chief Executive Officer of Boyd Gaming. "After years of planning, our focus will now turn to bringing the tribe's vision for this project to life. We look forward to a 2022 opening and providing our partners the opportunity to finally achieve their long-standing vision of self-sufficiency."
Upon opening, the casino will feature up to 2,000 slot machines, more than 80 table games and food and beverage offerings featuring local and regional brands from across Northern California.
The property was designed by Friedmutter Group, Tandem Design and Dez Motif. Construction will be led by general contractors AECOM Tishman and Yates Construction.
Forward-looking Statements and Company Information
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 "may," "will," "might," "expect," "believe," "anticipate," "could," "would," "estimate," "continue," "pursue," or the negative thereof or comparable terminology, and may include (without limitation) information regarding the Company's expectations, goals or intentions regarding future performance. These forward-looking statements are based upon the current beliefs and expectations of management and involve certain risks and uncertainties, including (without limitation) the timing for completion of construction, other construction risks, the timing for commencement of casino operations, and that Boyd will not realize the growth opportunities as anticipated. Additional factors are discussed in "Risk Factors" in Boyd's Annual Report on Form 10-K for the year ended December 31, 2020, and in Boyd's other current and periodic reports filed from time to time with the Securities and Exchange Commission. All forward-looking statements in this current report are made as of the date hereof, based on information available to Boyd as of the date hereof, and Boyd assumes no obligation to update any forward-looking statement.
About Boyd Gaming
Founded in 1975, Boyd Gaming Corporation (NYSE: BYD) is a leading geographically diversified operator of 28 gaming entertainment properties in 10 states. The Company is also a strategic partner and
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SOURCE Boyd Gaming Corporation
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