Boyd Gaming Corp., the casino company whose downtown Las Vegas properties and Vacations Hawaii travel agency are popular with local residents, said fourth quarter adjusted earnings from continuing operations fell to $34.9 million from $39.9 million a year earlier as pre-opening expenses cut into profits.

The company reported profit at its downtown Las Vegas segment declined to $66.9 million from $69.1 million a year earlier. The segment includes revenue from Vacations Hawaii, a major purveyor of Las Vegas vacation packages for Hawai'i residents.

Boyd reported revenue at Vacations Hawaii and other travel agency related entities fell to $12.1 million during the three months ended Dec. 31, or $1 million less than a year earlier.

Adjusted earnings is income from continuing operations before preopening expenses, accelerated depreciation of certain assets and other non-operating expenses. Boyd Gaming's operations include gambling operations in Las Vegas, Atlantic City and the Midwest.