Boyd Gaming Corp. Narrows Quarterly Loss (BYD)
Boyd Gaming Corp. (NYSE: BYD) reported a net loss of $1 million for its fourth-quarter. This figure is down from a $220.8 million loss a year earlier. Boyd Gaming (BYD) recorded $384.9 million in revenues, down from $422.6 million for the same time period a year earlier. Street analysts were expecting the revenue to be $386 million. The gaming company’s adjusted EBITDA for the quarter also plunged by 21.4% to $74 million.
Kevin Smith, CEO and President of Boyd Gaming, said, “The stabilizing trends we've noted previously continued during the fourth quarter." He also said that the improvement in the general economy will have a positive impact on the business. Boyd Gaming is also looking for expansion via M&A. The company is one of the main contenders for the acquisition of Station Casinos.
