LAS VEGAS, May 31, 2016 /PRNewswire/ -- Boyd Gaming Corporation ("Boyd Gaming") (NYSE: BYD ) today announced that it has entered into a definitive agreement to sell its 50% equity interest in Marina District Development Holding Company, LLC, the parent company of Borgata Hotel Casino & Spa in Atlantic City, New Jersey, to MGM Resorts International (NYSE: MGM )for consideration of $900 million, as well as a 50% share of any future property tax settlement benefits received by Borgata.