Boyd Gaming 2Q profit falls as revenue declines

Aug 6, 2009 12:35 AM
Staff & Wire Reports |

Casino operator Boyd Gaming Corp. says its second-quarter profit dropped 41 percent as revenue fell amid a pullback in spending by gamblers prompted by the recession.

Its adjusted results released Wednesday met Wall Street's expectations.

The Las Vegas-based company earned $12.8 million, or 15 cents per share, for the three months ended June 30 compared with $21.7 million, or 25 cents per share, a year earlier.

Excluding pre-opening expenses and other items, profit was $10.4 million, or 12 cents per share.

Analysts forecast earnings of 12 cents per share, according to a Thomson Reuters survey. Analysts' estimates generally exclude one-time items.

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