International edition
September 28, 2020

It's interested in acquiring the assets from a struggling rival, Station Casinos

Boyd Gaming reports us$ 220 million loss

(US).- Boyd Gaming Corp. is posting a fourth-quarter loss of us$ 220.8 million, citing impairment charges related to some prior acquisitions and a consumer spending pullback.

B

ut adjusted results met analysts’ estimates for the Las Vegas-based casino operator. Boyd president and CEO Keith Smith says results for the quarter ending December 31 reflect the ongoing recession and consumers scaling back on discretionary spending.

The company posted a loss of us$ 2.51 per share, compared with a profit of us$ 31.2 million, or 35 cents per share, a year earlier. Fourth-quarter results included us$ 290.2 million in impairment charges taken to write down some acquisitions to account for their fair value as of December 31.

Las Vegas-based Boyd has 16 gambling properties in Nevada, New Jersey, Mississippi, Illinois, Indiana and Louisiana. It said Monday it’s interested in acquiring the assets from a struggling rival, Station Casinos.

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