1 vote (25%)
3 votes (75%)

4 members have voted

Joined: Jan 14, 2010
  • Threads: 649
  • Posts: 7895
November 15th, 2010 at 10:47:44 PM permalink
Boyd is losing business in all four of it's major business areas.

First 9 months 2010 2009 Drop
   Las Vegas Locals $455,243 $486,975 -6.5%
   Downtown Las Vegas $161,088 $171,100 -5.9%
   Midwest and South $556,221 $592,085 -6.1%

Given the proforma effect of the consolidation of Borgata, as of the beginning of the nine-month periods ended September 30, 2010 and 2009, net revenues were $1.75 billion and $1.86 billion, respectively, and Adjusted EBITDA on a comparable basis was $345.2 million and $424.5 million for those periods, respectively.
Joined: Oct 19, 2009
  • Threads: 264
  • Posts: 14149
November 16th, 2010 at 3:28:01 AM permalink
Is Boyd doing anything wrong? Would someone else do something differently? You know... maybe make the lights blink at a faster rate or stiffen the drinks or bring in different lounge acts?
Joined: Nov 17, 2009
  • Threads: 233
  • Posts: 6676
November 16th, 2010 at 5:23:18 PM permalink
This explains why they passed on assuming the entire Borgata debt load. However, I think they still have a strong cash position, and continue to look for opportunities in Las Vegas, and eventually to restart work on Eschelon.

Given that others are also just bouncing off the bottom, who would have the resources to make a play anyway?
Simplicity is the ultimate sophistication - Leonardo da Vinci

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