Boyd Gaming announces offering of USD 500M senior notes due 2026

Subject to the satisfaction of certain conditions, the Company expects approximately $492 million in net proceeds from the sale of the notes. The Company intends to use the net proceeds in the future for working capital and general corporate purposes, which may include, without limitation, reducing or refinancing indebtedness, consolidating Peninsula Gaming, LLC into the Company's restricted group, expansion efforts, including acquisitions of assets or businesses, and general capital expenditures. Upon the closing of this offering, the Company will use the net proceeds to pay down the outstanding amounts under its senior secured revolving credit facility and will retain the balance of the net proceeds as additional cash on hand or invest the balance of the net proceeds in cash equivalents and short-term marketable securities.

The senior notes being offered have not been, and will not be, registered under the Securities Act of 1933, as amended, or applicable state securities laws or blue sky laws, and may not be offered or sold in the United States absent registration under the Securities Act and applicable state securities laws or available exemptions from such registration requirements. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy the senior notes.