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Land and Buildings Sees Significant Value in a Boyd Gaming REIT

STAMFORD, Conn.--(BUSINESS WIRE)--

Today Jonathan Litt, CIO and Founder of Land and Buildings Investment Management, LLC ("Land and Buildings"), a shareholder of Boyd Gaming Corporation (BYD) (“BYD” or the "Company”) issued the following statement to the shareholders of BYD:

“The successful IPO of MGM Growth Properties (MGP) last week and strong valuation of both MGP and Gaming and Leisure Properties (GLPI), at 14x and 13x 2017 EBITDA, respectively, paves the way for a Boyd REIT. Boyd closed Friday, April 22, 2016 at $20.03 per share, or an 8x 2017 EBITDA multiple, suggesting 60% upside in the shares should they pursue a REIT IPO...


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