MGM Resorts is now sole owner of Atlantic City’s market-leading Borgata Hotel Casino & Spa after Boyd Gaming sold its 50% stake in the property to MGM.

On Tuesday, Boyd announced that it had sold its half-share in Marina District Development Holding Company, the unit that controls the Borgata, to MGM for around $900m. Boyd expects the deal to close sometime in Q3 2016.

Boyd says it expects to receive around $600m upfront after deducting its share of the Borgata’s debt. Boyd will also collect 50% of any future property tax settlements with Atlantic City, which could provide Boyd with another payday of up to $90m.

Boyd CEO Keith Smith said he’d been pleased with the Borgata’s performance but the sale offered “an attractive opportunity to immediately unlock significant value for our shareholders.” Smith said the proceeds would be used to reduce debt, which has increased due to a couple of recent Las Vegas-area acquisitions.