Boyd Gaming declines to clarify reported approach to PENN
Boyd Gaming chief executive Keith Smith did not discuss negotiations with PENN Entertainment during the company's second-quarter earnings call, following reports that Boyd had approached PENN about a possible acquisition. Smith said Boyd had experience with acquisitions and that financing would depend on the transaction's specific circumstances; Boyd's long-term leverage target is below 3.0x net leverage.
The comments leave investors without confirmation of a potential transaction or its financing approach.