Boyd Gaming reports second quarter loss
Boyd Gaming reported a second quarter loss as much higher interest expenses offset improvements in operating profits.
During the period ending June 30, the revenues of $574.4 million marked a drop of less than one percent from one year ago as the different components, including gaming, food and beverage and hotel room sales varied little. However, Sam's Town in Tunica, Miss., was out of action for 25 days because of flooding along the Mississippi River.
The net loss of $3 million, or 3 cents a share, compared with the net profit of $3.4 million, or 4 cents a share, last year. When some one-time items were excluded from the results, the 1 cent a share profit fell short of the mean estimate of 2 cents a share by Wall Street analysts who follow the company.
Quarterly revenues at the Las Vegas locals properties dropped 0.8 percent during the quarter, while those on Fremont Street, which attract a higher share of visitors, rose 2.5 percent.
