Boyd Gaming Corp
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$86.18 | Shksgv | — |
Boyd Gaming Reports Another Quarter of Weak Results
Boyd Gaming Corp. BYD reported weak financial results for the first quarter ended March 31, 2011. Net revenue decreased 1.5% to $565 million compared to the quarter a year earlier, while adjusted EBITDA fell 4% to $112 million. Based on the firm’s poor performance during the quarter, our outlook that Boyd’s Las Vegas local casinos will experience a slow recovery, and the intense competition that negatively will impact the company’s 50% owned Borgata casino in Atlantic City, we are placing Boyd under review to adjust the assumptions in our financial model and to transfer analyst coverage.