Exhibit 5.1
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| | | | LIONEL SAWYER & COLLINS ATTORNEYS AT LAW | | | | |
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SAMUEL S. LIONEL GRANT SAWYER (1918-1996) JON R. COLLINS (1923-1987) RICHARD H. BRYAN JEFFREY P. ZUCKER PAUL R. HEJMANOWSKI ROBERT D. FAISS DAVID N. FREDERICK RICHARD W. HORTON DAN C. BOWEN RODNEY M. JEAN HARVEY WHITTEMORE TODD TOUTON CAM FERENBACH LYNDA S. MABRY MARK H. GOLDSTEIN KIRBY J. SMITH COLLEEN A. DOLAN JENNIFER A. SMITH | | GARY W. DUHON LAUREL E. DAVIS DAN R. REASER MARK LEMMONS HOWARD E. COLE PAUL E. LARSEN ALLEN J. WILT LYNN S. FULSTONE RORY J. REID DAN C. McGUIRE JOHN E. DAWSON FRED D. “PETE” GIBSON, III LESLIE BRYAN HART CRAIG E. ETEM TODD E. KENNEDY MATTHEW E. WATSON SHAWN M. ELICEGUI G. LANCE COBURN JOHN M. NAYLOR WILLIAM J. McKEAN ELIZABETH BRICKFIELD | | 1700 BANK OF AMERICA PLAZA 300 SOUTH FOURTH STREET LAS VEGAS, NEVADA 89101 (702) 383-8888 –––– FAX (702) 383-8845 lsc@lionelsawyer.com www.lionelsawyer.com | | JEFFREY D. MENICUCCI JANET SUE BESSEMER GREGORY R. GEMIGNANI DOREEN SPEARS HARTWELL LINDA M. BULLEN LAURA K. GRANIER MAXIMILIANO D. COUVILLIER III MICHAEL D. KNOX ERIN FLYNN JENNIFER ROBERTS SUZANNE L. MARTIN BRENT HEBERLEE MATTHEW B. CRANE | | JON A. BAUMUNK CHRISTOPHER CHILDS MEREDITH L. STOW JOICE B. BASS DOUGLAS A. CANNON RICHARD CUNNINGHAM MATTHEW R. POLICASTRO JACOB D. BUNDICK ADAM D. SMITH GARRETT D. GORDON TREVOR HAYES JENNIFER J. DiMARZIO PEARL GALLAGHER |
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| | | | August 1, 2006 | | OF COUNSEL ELLEN WHITTEMORE BRIAN HARRIS LAURA J. THALACKER |
Boyd Gaming Corporation
2950 Industrial Road,
Las Vegas, Nevada 89109
Mr. Michael J. Gaughan
Ladies and Gentlemen:
You have requested our opinion as special Nevada counsel for Boyd Gaming Corporation, a Nevada corporation (the “Company”) in connection with the offering of up to 12,342,504 shares of the Company’s common stock, par value $0.01 per share, (including up to 500,000 shares subject to the underwriters’ over-allotment option, the “Outstanding Shares”) by Mr. Michael J. Gaughan, as set forth in the Prospectus Supplement No. 2 (To Prospectus Dated December 16, 2005) dated August 1, 2006 (the “Prospectus Supplement”) found within the Company’s Registration Statement filed with the Securities and Exchange Commission (the “Registration Statement”).
We have examined originals or copies of each of the documents listed below:
1. Certificate of Corporate Existence of the Company from the Nevada Secretary of State;
2. The Company’s articles of incorporation certified by the Nevada Secretary of State;
3. Bylaws of the Company certified by an officer of the Company;
RENO OFFICE: 1100 BANK OF AMERICA PLAZA, 50 WEST LIBERTY STREET· RENO, NEVADA 89501· (775) 788-8666· FAX (775) 788-8682
CARSON CITY OFFICE: 410 SOUTH CARSON STREET· CARSON CITY, NEVADA 89701· (775) 851-2115· FAX (775) 841-2119
WASHINGTON, DC OFFICE: 101 CONSTITUTION AVENUE NW, SUITE 800· WASHINGTON, DC 20001· (202) 742-4264· FAX (202) 742-4265
LIONEL SAWYER & COLLINS
ATTORNEYS AT LAW
Boyd Gaming Corporation
Mr. Michael J. Gaughan
August 1, 2006
Page 2
4. Resolutions of the board of directors of the Company certified by an officer of the Company; and
5. The Prospectus Supplement.
We have assumed the authenticity of all documents submitted to us as originals, the genuineness of all signatures, the legal capacity of natural persons and the conformity to originals of all copies of all documents submitted to us. We have relied upon the certificates of all public officials and corporate officers with respect to the accuracy of all matters contained therein.
Based upon the foregoing, and subject to the following, it is our opinion that:
1. The Company is duly incorporated, validly existing and in good standing under the laws of the State of Nevada.
2. The Outstanding Shares have been duly authorized, validly issued and are fully paid and nonassessable.
We express no opinion concerning any securities law or rule.
Nothing herein shall be deemed an opinion as to the laws of any jurisdiction other than the State of Nevada.
We consent to the use of this opinion as an exhibit to the Registration Statement and to the use of our name under the caption “Legal Matters” in the Prospectus Supplement. In giving this consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act of 1933, as amended, or the rules and regulations of the United States Securities and Exchange Commission thereunder.
This opinion letter is intended solely for use in connection with the registration and offering of the Outstanding Shares as described in the Registration Statement, and it may not be relied upon for any other purpose, or reproduced or filed publicly, without the written consent of this firm.
Very truly yours,
/s/ Lionel Sawyer & Collins
LIONEL SAWYER & COLLINS
