{"id":1004201793,"date":"2017-12-26T07:18:50","date_gmt":"2017-12-26T15:18:50","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004201793"},"modified":"2022-12-08T17:59:40","modified_gmt":"2022-12-09T01:59:40","slug":"pa-casino-resort-commands-281m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/pa-casino-resort-commands-281m\/","title":{"rendered":"PA Casino Resort Commands $281M"},"content":{"rendered":"<p>By Keith Loria<\/p>\n<div id=\"attachment_1004017858\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/02\/Casino.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004017858\" data-attachment-id=\"1004017858\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/386m-first-phase-of-kansas-city-casino-gets-the-green-light\/casino\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/02\/Casino.jpg\" data-orig-size=\"500,375\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Casino\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Courtesy Flickr Creative Commons user Triin Q&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/02\/Casino.jpg?w=500\" class=\"size-medium wp-image-1004017858\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/02\/Casino.jpg\" alt=\"Courtesy Flickr Creative Commons user Triin Q\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/02\/Casino.jpg 500w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/02\/Casino.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004017858\" class=\"wp-caption-text\">Courtesy Flickr Creative Commons user Triin Q<\/p><\/div>\n<p>Boyd Gaming Corporation has entered into a definitive agreement to acquire Valley Forge Casino Resort, a 40,000-square foot casino in King of Prussia, Pa., from Valley Forge Convention Center Partners.<\/p>\n<p><em>\u201cIn our industry, Pennsylvania is a pretty\u00a0<a href=\"https:\/\/www.commercialsearch.com\/news\/philadelphias-apartment-revival\/\">important market<\/a>. It\u2019s the second-largest state in terms of gambling revenues,<\/em> David Strow, Boyd Gaming Corp.\u2019s vice president of corporate communications, <em>told Commercial Property Executive. \u201cSo, the opportunity to enter that market was obviously very important to us.\u201d<\/em><\/p>\n<p>The resort boasts 600 slot machines, 50 table games and nearly 500 hotel rooms. The property also features eight restaurants and bars, and offers more than 100,000 square feet of meeting, convention and exhibit space.<\/p>\n<p>The casino resort is situated 20 miles west of downtown Philadelphia, and is Boyd Gaming\u2019s first asset in Pennsylvania.<\/p>\n<p><em>\u201cPennsylvania became even more attractive in the last month or so when it passed a package of gaming expansion legislation,\u201d <\/em>Strow said. <em>\u201cThat means some pretty significant changes to that state\u2019s gaming industry.\u201d<\/em><\/p>\n<p>According to Strow, the specific location of the property was pretty appealing as well.<\/p>\n<p><em>\u201cIt\u2019s located in a very affluent area, just 20 miles west of downtown Philadelphia,\u201d <\/em>he said.<em> \u201cIt\u2019s a very attractive location, a very attractive asset in an attractive market. That\u2019s really the appeal of the property to us as a company.\u201d<\/em><\/p>\n<h2><strong>A Growing Business<\/strong><\/h2>\n<p>The transaction is expected to close in the third quarter of 2018, subject to customary closing conditions and the receipt of all required regulatory approvals.<\/p>\n<p><em>\u201cWe\u2019re a company that\u2019s interested in growing through acquisitions, that has really been a part of our business strategy for quite some time,\u201d <\/em>Strow said.<em> \u201cWe aren\u2019t really a company that necessarily targets specific locations; our philosophy is we want to acquire attractive assets at attractive prices in markets that are a good fit for our company. And in this case, this asset really fit that very well.\u201d<\/em><\/p>\n<p>Morrison &amp; Foerster LLP served as legal advisor to Boyd Gaming for the transaction. Moelis &amp; Company LLC served as exclusive financial advisor to Boyd Gaming. Cozen O&#8217;Connor served as legal advisor to Valley Forge Convention Center Partners LP.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boyd Gaming acquired Valley Forge Casino Resort, a 40,000-square-foot casino in King of Prussia. The resort includes 500 hotel rooms, eight restaurants and bars, and more than 100,000 square feet of meeting, convention and exhibit space.<\/p>\n","protected":false},"author":451,"featured_media":1004017858,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21752,21742,10],"tags":[],"class_list":["post-1004201793","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-mixed-use","category-latest","category-northeast"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>PA Casino Resort Commands $281M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/pa-casino-resort-commands-281m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PA Casino Resort Commands $281M\" \/>\n<meta property=\"og:description\" content=\"Boyd Gaming acquired Valley Forge Casino Resort, a 40,000-square-foot casino in King of Prussia. The resort includes 500 hotel rooms, eight restaurants and bars, and more than 100,000 square feet of meeting, convention and exhibit space.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/pa-casino-resort-commands-281m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-12-26T15:18:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T01:59:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/02\/Casino.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"500\" \/>\n\t<meta property=\"og:image:height\" content=\"375\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pa-casino-resort-commands-281m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pa-casino-resort-commands-281m\\\/\"},\"author\":{\"name\":\"Keith Loria\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/aaa29b723dad85f2444ae3cb0c4d735f\"},\"headline\":\"PA Casino Resort Commands $281M\",\"datePublished\":\"2017-12-26T15:18:50+00:00\",\"dateModified\":\"2022-12-09T01:59:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pa-casino-resort-commands-281m\\\/\"},\"wordCount\":378,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pa-casino-resort-commands-281m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2010\\\/02\\\/Casino.jpg\",\"articleSection\":[\"Finance\",\"Mixed Use\",\"News\",\"Northeast\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pa-casino-resort-commands-281m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pa-casino-resort-commands-281m\\\/\",\"name\":\"PA Casino Resort Commands $281M - 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