Boyd Gaming has cancelled its agreement to sell its Dania Jai-Ali facility in Florida, US, to Dania Entertainment.

The US-based operator announced that Dania Entertainment was unable to close the $80m sale within the required time period.

The buyer previously exercised its option to extend the closing of the purchase of the property to a date on or before November 28, 2011. Since the closing did not occur within that timeframe, Boyd Gaming is exercising its right to terminate the transaction.

Boyd Gaming’s CEO, Keith Smith, had previously stated that that the facility no longer fits its “growth strategy” but now the company looks set to continue operating it for the time being.