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Borgata Receives New Jersey Gaming License Renewal

ATLANTIC CITY, New Jersey – (PRESS RELEASE) -- Boyd Gaming Corporation (NYSE: BYD) today announced that Borgata Hotel Casino and Spa, its Atlantic City joint venture with MGM Mirage, received unanimous approval for renewal of its gaming license from the New Jersey Casino Control Commission. Borgata becomes the first licensee to receive a five year license in New Jersey, following a newly passed provision in the New Jersey Casino Control Act extending renewal periods.

In its presentation to the Commission, the Company said that Borgata's public space expansion, estimated to cost $200 million, was well underway and scheduled for completion in the second quarter 2006. The expansion project will include, among others, additional gaming space, two high-energy night clubs, and five new restaurants, three of which will be developed and operated by nationally acclaimed restaurateurs.

The Company also announced that it is in the planning stages of a second Borgata expansion consisting of 800 additional hotel rooms and suites and other amenities. The project is currently estimated to cost $325 million and is expected to be completed in the fourth quarter 2007.

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