DANIA, FL-Las Vegas-based Boyd Gaming Corp. has purchased the Dania Jai Alai, along with 50 acres of land on the site, for $152.5 million. Boyd plans to build a gaming facility on site.

The company has begun work on a master plan for the site, which will include an expansive gaming floor, poker room, restaurants and entertainment lounges. In addition to the casino facility, the company will continue to offer off-track betting and live jai alai performances and wagering.

Dania Jai Alai is one of four facilities approved under Florida law to operate 1,500 Class III slot machines. The legislation that permits the use was signed into law in January. The Florida Department of Business and Professional Regulation's Pari-Mutuel Wagering Division is expected to approve final regulations by July. "We are thrilled to have the opportunity to expand our brand of casino entertainment into the Florida market," says Boyd Gaming chairman and CEO William Boyd in a prepared statement. "Our facility will offer the latest in slot machine games, as well as many new and exciting amenities that have become an important part of today's casino entertainment product."

A spokesman for Boyd tells GlobeSt.com that the sale is the first step in the casino plans, which are still being developed. The company hopes to begin construction on the facility in the first quarter of 2007 with a projected 12- to 18-month construction schedule. This will be the company's first casino in Florida. Boyd also owns casinos in Illinois, Indiana, Louisiana, Mississippi, New Jersey and Nevada.

The facility's location--in close proximity to the Fort Lauderdale International Airport and the Broward County Convention Center--make it a promising site for a gaming facility. "We're very bullish on the South Florida market," the spokesman says. "Given the location and Florida's popularity as a tourist destination, we believe it will do well."