Boyd Gaming returns to a profit in first quarter
Boyd said it earned us$ 5.9 million, or 7 cents per share, from January through March. That compares with a loss of us$ 3.5 million, or 4 cents per share, a year ago. Removing preopening expenses and other items, earnings were 10 cents per share, edging past the profit of 9 cents per share that analysts surveyed by Fact Set expected.
Revenue climbed 12 percent to us$ 633.1 million from us$ 564.9 million as customers spent more on gambling, food and beverages and hotel rooms. Wall Street forecast revenue of us$ 625.3 million.
Revenue for the Midwest and South region rose 33 percent to us$ 243.7 million, helped by us$ 49 million from the October acquisition of the IP Casino Resort Spa in Biloxi, Mississippi.
Revenue for the Borgata Hotel Casino and Spa in Atlantic City, rose 4 percent to us$ 176.2 million. Downtown Las Vegas properties' revenue grew 2.4 percent, while revenue for properties intended to draw local Las Vegas residents were almost unchanged at us$ 154.8 million.
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