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Friday August 1,2014 : BOYD GAMING CHIEF BULLISH ON INTERNET OPERATIONS
But lacklustre overall results for US gaming giant.
Continued weakness in casual play was the root cause for the weak performance of the Boyd Gaming group, said CEO Kevin Smith this week as he revealed that the US gambling group had suffered a decline in profit and revenue in the second quarter.
Group profits were significantly down, declining from $11.6 million in Q2-2013 to only $700,000 this year.
Revenue for the three months to end June was down 2 percent at $722.5 million, with adjusted earnings up at $160.2 million, thanks to an $11 million tax settlement from its Atlantic City joint interests with MGM, where Boyd has a 50 percent stake in the Borgata.
Boyd’s share of the Borgata in New Jersey delivered just under $182 million, rising by $9 million from the preceding year.
Online gambling operations contributed a useful $6.7 million to that amount, helping adjusted earnings for Borgata to reach $30,8 million - a 11 percent increase.
Smith took a positive outlook on the company's online gambling activities in New Jersey, where its partnership with MGM has seen the market-leading Borgata brand break even in July, an occurrence which Smith characterised as a key milestone in the continued development of the internet enterprise.
Despite lower than expected results for the genre, which lost $1.8 million in the quarter, Smith remains confident, saying that he expects online gambling revenues to start picking up in New Jersey as the weather cools.
Philly.com reports that Borgata's share of online gaming revenues in New Jersey was 29 percent.
Smith revealed that Boyd's future plans include the launch of a mobile sports book in Nevada in the near future.
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New Book On The Neteller Founders -
Seven years ago the Canadian founders of the Neteller e-cash processing group, John Lefebvre and Stephen Lawrence, were arrested under intriguing circumstances following a covert investigation by the US Department of Justice as it implemented moves to disrupt the online gambling industry by "following the money trail"
2 Years Later Still No LOCK POKER Payments -
#lockpoker #poker In what must surely be the worst case yet of online poker operator slow-pay, Lock Poker was again the subject of forum discussion this week as its longest-owed players marked the second anniversary of their unsuccessful withdrawals, allegedly still without any sign of payment.
Casino Room To use Yggdrasil games -
Ellmount owned and operated Casino Room has entered into a supply agreement for an entire casino suite of casino games from Yggdrasil Gaming and Infinite API for gamification.
Sugar Rush Winter Slot Launches -
TopGame Technology has launch its latest title in the Sugar Rush series "Sugar Rush Winter", a 20-payline game featuring a Gingerbread Man as Wild and CupCakes as bonus symbols.
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