Boyd Gaming has weak second quarter

Aug 11, 2009 5:05 PM
Earnings by Ray Poirier | There were few hurrahs emanating from investors over the weak second quarter reported by Boyd Gaming Corp. (BYD).

Revenues fell to $423 million, down from last year’s $460.8 million. The adjusted profit was $10.4 million or $0.12 per share compared to last year’s $21.7 million or $0.25 per share.

Of particular concern to some analysts was the decline in revenues at the Borgata Hotel/Casino in Atlantic City. They fell to $191.5 from last year’s $205.1 million.

Despite the second quarter results, the company reiterated its interest in acquiring some of the properties owned by Station Casinos Inc., which is now in bankruptcy.