Gabelli Has Buy on Boyd Gaming

Gabelli & Co. is out with a research report on Boyd Gaming (NYSE: BYD) and it has a Buy rating on shares.

In a note to clients, Gabelli & Co. writes, "For the quarter, property EBITDA was up 18% to $30.8 mm in the Las Vegas locals segment, up 6% to $6.0 mm in Downtown Las Vegas, up 16% to $44.5 in the Midwest and South, and total EBITDA at the Borgata declined 7% to $50.2 mm.

· Our estimates for BYD reflect modest top line growth and margin improvement in BYD's markets in 2011-2012. We estimate BYD will generate revenues of $1.58 bn and $370 mm in EBITDA in 2011."

Shares of BYD are off 7 cents to $6.50.