Boyd Gaming (BYD) Tops Q1 EPS by 7c, Revs Down 7.7%
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Boyd Gaming (NYSE: BYD) reports Q1 earnings of $0.15 per share, ex-items, above the consensus of $0.08. Revenues fell 7.7% to $434.8 million, versus the consensus of $435.2 million.
Keith Smith, President and Chief Executive Officer of Boyd Gaming, commented on the quarter, "The recession continues to impact our business, but we're encouraged by some positive trends that developed during the quarter. In our Las Vegas Locals region, we began to see signs of stabilization, while Borgata continued to outperform a severely challenged Atlantic City market. Results were especially encouraging in our Midwest and South and Downtown Las Vegas regions, both of which posted gains for the quarter. These regional performances helped to offset difficult economic climates in Las Vegas and Atlantic City, and demonstrate the value of geographic diversification to our Company."
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