Nomura Securities maintains a 'Neutral' on Boyd Gaming (BYD); Positive on Q1 Beat, But See Marketing Storm in Atlantic City
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Price: $62.89 --0%
Rating Summary:
18 Buy, 15 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 3
Rating Summary:
18 Buy, 15 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 3
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Nomura Securities maintains a 'Neutral' on Boyd Gaming (NYSE: BYD) price target of $9.00.
Analyst, Harry C. Curtis, said, "Las Vegas Locals is not getting the revenue lift that we’d expected. This shortfall is compounded by higher marketing expenses, which is in response to Station’s more aggressive customer share capture program. Looking ahead, we expect modest Locals revenue growth, but promotional expenses are likely to remain elevated."
"Atlantic City: Borgata outperformed due to higher YOY table hold and better-than-expected non-gaming revenues. We view the sustainability of the upside with suspicion, since Revel’s soft-opening has yet to trigger a marketing war. We expect a more intense promotional environment will unfold among the casinos with weaker and bleaker balance sheets. Revel is expected to have a grand
opening during Memorial Day weekend."
For an analyst ratings summary and ratings history on Boyd Gaming click here. For more ratings news on Boyd Gaming click here.
Shares of Boyd Gaming closed at $8.11 yesterday.
Analyst, Harry C. Curtis, said, "Las Vegas Locals is not getting the revenue lift that we’d expected. This shortfall is compounded by higher marketing expenses, which is in response to Station’s more aggressive customer share capture program. Looking ahead, we expect modest Locals revenue growth, but promotional expenses are likely to remain elevated."
"Atlantic City: Borgata outperformed due to higher YOY table hold and better-than-expected non-gaming revenues. We view the sustainability of the upside with suspicion, since Revel’s soft-opening has yet to trigger a marketing war. We expect a more intense promotional environment will unfold among the casinos with weaker and bleaker balance sheets. Revel is expected to have a grand
opening during Memorial Day weekend."
For an analyst ratings summary and ratings history on Boyd Gaming click here. For more ratings news on Boyd Gaming click here.
Shares of Boyd Gaming closed at $8.11 yesterday.
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