Highlights from Boyd's Q4'13 Earnings Conference Call - Boyd Gaming (NYSE:BYD)

Below are some highlights from Boyd Gaming's

BYD

fourth-quarter conference call: CEO - Keith E. Smith

Company is in better operational and financial position than year before
Introduced penny lane in 12 BYD locations and is having a positive impact on the business
The changes done to BYD has created sustainable growth in las vegas
Improved flexibility which allows Boyd to take advantage of several growth opportunities
Landscape for acquisitions is bare but there are opportunities
New gaming developments will also spur growth
The opportunity in japan is much broader than previously thought
Boyd has been competing for a regional license
From an organic standpoint there are many chances to innovate by reinvigorating non-gaming amenities and expanding the player loyalty program
Penny lane will give properties a new advantage as Boyd introduces it
Boyd is pleased with the online product it offers in New Jersey which shows the reputation of Borgata
Boyd has grown significantly and Borgata counts less in overall results than year past

COO Paul J. Chakmak

Spending and visitation declined among casual players
Business among top tier players is as strong as ever
Las vegas locals business is growing thanks largely to operating efficiency
Non-gaming business grew as well largely due to the hotel business
Downtown business has shown encouraging strength
Weather has had a significant impact on our business in the midwest, south and east coast
Results were lower than expected in atlantic city
Total market share of 43% for online gambling
Weather continues to have a negative impact
Las vegas has returned to growth, and midwest and south should as well

CFO Josh Hirsberg

Elimination of federal tax burden will contribute to cash flow for years to come
8-10M increase in cost due to the weather

Q&A

No contribution positive or negative from online gaming for the full year
There are acquisition opportunities out there, they just have not been ones that make sense to Boyd's business
Atlantic city market has gotten competitive due to the closing of the Atlantic Club
Open to selling assets if they make strategic sense