Posted at 2:38 p.m., Thursday, April 26, 2007
Revenue slips at Boyd's downtown Las Vegas properties
Advertiser Staff
Boyd Gaming Corp. reported first-quarter revenue fell slightly at its downtown Las Vegas properties that are popular with Hawai'i residents, though the segment outperformed the market.The company said revenue for the group of downtown hotels was $63.8 million, down slightly from the $64.5 million a year earlier. Adjusted earnings before interest, taxes, depreciation and amortization were $13.9 million and compared with $14 million a year earlier.
"Our downtown business continues to achieve outstanding results, almost equaling last year's first quarter record levels in both net revenues and adjusted EBIDTA," said Keith Smith, Boyd president and chief operating officer in a press release.
Boyd, which operates 17 gaming properaties in Nevada, New Jersey, Mississippi, Illinois, Indiana, Louisiana and Florida, said first quarter income from continuing operations was $33.5 million, or 38 cents a share. That compared with a year earlier profit from continuing operations of $65.3 million, or 72 cents a share. Boyd also owns and operates Vacations Hawaii, a seller of travel packages for Las Vegas.
