Boyd back on track

December 18, 2001 8:01 AM
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Boyd Gaming has paid former Delta Downs owner Shawn Scott $5.1 million in an effort to get its slot installation rolling.

Boyd’s bid to add a casino at the Vinton, La., track hit a roadblock last month when a state court held up the slots. The court acted in response to a lawsuit filed by competitor Isle of Capri, which contended that Scott, who has not been licensed, still had a financial interest in Delta Downs.

GamingToday reported last Tuesday that Boyd, which had sunk $35 million in improvements into the $125 million track, said it might have to sell the facility if it could not get some 1,700 slot machines in place.

Then, on Friday, Boyd announced it had amended its purchase agreement to give Scott $5.1 million to buy out his stake in the property. The court subsequently removed the injunction and talks with gaming regulators have resumed. News of the breakthrough boosted Boyd stock nearly 20 percent.

Scott last month purchased Vacation Village at the south end of the Strip. He has not announced specific plans for the hotel-casino, which has been operating under bankruptcy protection.