by Michael C. Lowe | June 22, 2011

 Boyd Gaming is acquiring the IP Casino Resort Spa in Biloxi, Miss., for $278 million in cash. The 1,088-room property currently is owned by Imperial Palace of Mississippi and Key Largo Holdings, and has 1,900 slot machines, 62 table games across its 70,000-square-foot casino and 73,000 square feet of meeting space. The new owners will invest about $44 million into capital improvement projects once the acquisition is complete. The transaction is expected to close by the end of the year.