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Boyd Gaming excited by iGaming prospects
American land-based casino operator Boyd Gaming Corporation has released its financial results for the first quarter of 2013 while additionally stating that it is ‘excited’ by the prospects of a future legalised online gaming offering.
Las Vegas-based Boyd Gaming owns 22 properties throughout the United States and reported net first-quarter revenues of $737 million, which represents a 16.4 percent improvement year-on-year, while total adjusted earnings before interest, tax,
depreciation and amortisation grew by 22.2 percent when compared with the same period in 2012 to $163.5 million.
Boyd Gaming stated that adjusted first-quarter earnings came in at $400,000, which was considerably less than the $8.4 million it declared for the same three-month period in 2012, while its net profit fell by $13.2 million from a year ago to a deficit of $7.3 million.
“We saw positive momentum across our operations in March, driving first-quarter results that were ahead of our previous expectations,” said Keith Smith, President and Chief Executive Officer for Boyd Gaming.
“As we look forward, we are excited by the potential of our online gaming strategy. New Jersey and Nevada are now laying the regulatory groundwork for online gaming and other states are considering legalisation as well. This emerging business provides a compelling opportunity to significantly grow and diversify our business and we intend to take full advantage of it.” |
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