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Borgata posts largest profit of $43.2M

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Boyd Gaming Corp. reduces its net loss during 4Q March 10, 2014 8:08 PM by Ray Poirier

Boyd Gaming Corp. reduces its net loss during 4Q Boyd Gaming Corp. (BYD), which last year shed its interest in a Florida jai alai casino and expanded its business by acquiring six properties from Peninsula Gaming, reduced its net loss during the fourth quarter that ended on Dec. 31.

During the period, the company said revenues reached $681.5 million and the net loss was reduced to $47.3 million or $0.43 per share. In the previous year, the company reported a net loss of $899.9 million or $10.24 per share.

The figures were well-received by the investment community since there was a pre-announcement of the fourth-quarter results in January.

Reporting for the full fiscal year, the company said its net revenue was $2.89 billion, a jump of 16.6 percent. The loss was $80.3 million or $0.83 per share. Last year’s loss was $908.9 million or $0.37 per share.

Ray Poirier is the longtime executive editor at GamingToday.

Contact Ray at RayPoirier@GamingToday.com.

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