International edition
October 27, 2020

It widens on expenses

Boyd reported a net loss of US$ 7.1 million for 4Q

(US).- Boyd Gaming's fourth-quarter loss widened, pulled down by higher costs and expenses. It reported a net loss of US$ 7.1 million, or 8 cents per share, for the three months ended December 31. That compares with an outflow of US$ 1 million, or a penny per share, a year earlier.

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oyd's adjusted loss was 5 cents per share compared with adjusted earnings of less than a penny per share for the prior-year period. The adjusted results exclude preopening expenses and other items. The latest figure met the expectations of analysts polled by FactSet.

Revenue climbed 43 % to US$ 551.9 million from US$ 384.9 million as gaming, food and beverage and room revenue improved.

Boyd reported full-year net income more than doubled to US$ 10.3 million, or 12 cents per share, from US$ 4.2 million, or 5 cents per share, in the previous year. Annual revenue increased 31 % to US$ 2.14 billion from US$ 1.64 billion.

The Las Vegas casino operator said that it expects more visitors and higher spending per visit as economic conditions improve. Many gamblers pulled back on their spending and visited local casinos during the peak of the economic downturn.

The performance fell short of Wall Street's estimate of US$ 554.1 million.

Revenue rose for the Midwest and South region, while Downtown Las Vegas, the Borgata and the Las Vegas locals segment posted declined.

Total costs and expenses rose to $511.7 million from $367.2 million.

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