International edition
September 22, 2021

The company reported third-quarter net income of us$ 5.6 million

Boyd Gaming quarterly profit falls 11 %

(US).- Casino operator Boyd Gaming posted an 11 % drop in its quarterly profit amid a continued weakness in consumer spending, especially at its Las Vegas properties.


eparately, the firm also said it will not exercise its right to match the offer MGM Resorts International got for its non-controlling 50 % interest in their joint-venture Borgata resort in Atlantic City, New Jersey.

Earlier this month, casino operator MGM Resorts said it received an offer for its 50 % stake in the Borgata casino hotel. It valued the offer at just over us$ 250 million. Boyd reported third-quarter net income of us$ 5.6 million, or 6 cents per share, down from us$ 6.3 million, or 7 cents per share, a year earlier.

Excluding special items, the profit was 2 cents a share, compared with the average analyst estimate of 5 cents a share, according to Thomson Reuters.

Net revenue at Boyd, which runs Las Vegas properties that cater mainly to local residents rather than tourists, fell 4 % to us$ 595.4 million. Analysts had expected revenue of us$ 589 million. The company owns and operates 16 casinos in six states, including a 50% stake in Borgata.

The Las Vegas, Nevada-based company's shares have lost nearly 39 % of their value since reporting first-quarter results in May. They closed at us$ 7.99 Friday on the New York Stock Exchange.

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