Apparently plans to convert Dania Jai-Alai into a racino are back on. Dania’s parent company, Boyd Gaming, announced Thursday that it will sell to Dania Entertainment Center for $65.5 million.
If that name sounds familiar, it’s because Boyd also announced in 2011 it was selling to Dania Entertainment, but the deal fell through, when the company couldn’t meet a payment deadline.
Dania Entertainment immediately filed a lawsuit, following Boyd Gaming's termination of the initial sale agreement. As part of the agreement, the Dania Entertainment dimissed the suit with prejudice and its $7 million deposit previously paid will be applied to the purchase price.
Boyd says the transaction is expected to close on or before May 24 and Dania Entertainment paid Boyd Gaming another non-refundable deposit of $4 million. The full amount of the deposit will be applied to the purchase price upon closing of the transaction.
Dania Entertainment officials could not be reached Thursday.
Boyd Gaming, which bought the fronton for $152 million in 2006, had planned to sell it for $80 million in 2011.
During its first go-round in their attempt to purchase, Dania Entertainment released renderings that included a buffet restaurant, two casual restaurants and a fine dining venue with a performance stage and dinner theater-style seating, a night club, lounge and day club with pool and cabanas. The plans also included reducing fronton seating from 5,000 to 1,800 and using the court for live entertainment when no jai-alai is scheduled. The company must run 150 jai-alai sessions a year to keep its slot license.
Last year, Panthers CEO Michael Yormark announced a partnership with Boyd Gaming in an attempt to build a casino at the BB&T Center in Sunrise. Casinos not affiliated with Indian tribes or pari-mutuels are not yet legal in Florida, but Las Vegas companies are working to add destination-style casinos to the state.Copyright © 2015, South Florida