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Weak Results For Boyd Gaming group
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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NFL Odds: Panthers –6 at Super Bowl 50 -
#SuperBowl In what could be his last NFL game, Peyton Manning will lead the Denver Broncos into Santa Clara this Sunday (6:30 PM ET, CBS) to face the Carolina Panthers at Super Bowl 50. The Broncos are 6-point underdogs at press time, or +170 on the moneyline, with a total of 45.
$12 Freebie to Try New All American Video Poker -
#poker #videopoker #usa With the All American launching today -- its third new video poker game -- they’re getting more than they asked for. Similar to Joker Wild and 10s or Better video poker which launched over the last few weeks, this new game has a Double Up feature for increasing wins.
NeoGames in deal with Sazka -
A large variety of both proprietary and third party provider online games will become available to Sazka as the lotto provider prepares for its first foray into the online casino sector.
DraftKings Securing Sponsors in UK -
#draftkings High profile Premier League football clubs Watford, Arsenal and Liverpool have succumbed to DraftKings’ persuasive offer, the cost of which has not been disclosed.
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