BYD - Boyd Gaming Profile, Share Price, Market Analysis, Charts, Fundamentals

Business Description

Boyd Gaming Corporation is a multi-jurisdictional gaming company that has been in operation since 1975. Headquartered in Las Vegas, we operate 29 wholly owned gaming entertainment properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio and Pennsylvania.

We strive to create long-term shareholder value, to be among the leading companies in our industry and to provide opportunities for all while we support and enhance our communities. Our primary areas of focus are: (i) ensuring our existing operations are managed as efficiently as possible and remain positioned for growth; (ii) improving our capital structure and strengthening our balance sheet, including paying down debt, increasing free cash flow, improving operations and diversifying our asset base; and (iii) successfully implementing our growth strategy, which is built on identifying development opportunities and acquiring assets that are a good strategic fit and provide an appropriate return to our shareholders.

We operate with an efficient business model that we believe has enabled us to grow operating margins over the past several years, and we believe we have an opportunity to realize additional cost savings by further leveraging our size and scale. We strategically reinvest in our non-gaming amenities, including hotel rooms and restaurants to refresh our property offerings and better capitalize on customers evolving spending behaviors. We manage our cost and expense structure to adjust to current business volumes and to generate strong and stable cash flows.

We continually work to position our Company for greater success by strengthening our existing operations and growing through acquisitions, capital investments and other strategic initiatives. An example is our recent strategic initiative regarding legalized sports gambling. In July 2018, the Company entered into a partnership agreement with MGM Resorts International ("MGM Resorts"). Under this partnership, MGM Resorts and Boyd Gaming will both have the opportunity to offer online and mobile gaming platforms, including sports betting, casino gaming and poker in jurisdictions where either company operates physical casino resorts and online licenses are available. In August 2018, we entered into a strategic partnership with FanDuel Group to pursue sports betting and online gaming opportunities across the United States. Also in August 2018, we opened sports books at our two Mississippi properties, IP Casino Resort Spa ("IP") in Biloxi, and Sams Town Hotel & Gambling Hall in Tunica, following the receipt of final approval from the Mississippi Gaming Commission. In March 2019, Valley Forge opened a sports book at the facility and in third quarter 2019, sports books at Diamond Jo Worth, Diamond Jo Dubuque, Blue Chip and Belterra Casino Resort opened, following approval from the respective state regulatory bodies.

Fundamental Analysis

Reporting Reconciling Item Excluding Corporate Nonsegment

3.86 %

of total Revenue

Casino

65.22 %

of total Revenue

Casino Reporting Reconciling Item Excluding Corporate Nonsegment

1.13 %

of total Revenue

Food and Beverage

7.6 %

of total Revenue

Occupancy

4.61 %

of total Revenue

Online

16.21 %

of total Revenue

Online Reimbusements

13.58 %

of total Revenue

Management Fee

2.63 %

of total Revenue

Management Fee Reporting Reconciling Item Excluding Corporate Nonsegment

2.63 %

of total Revenue

Product and Service Other

3.73 %

of total Revenue

Product and Service Other Reporting Reconciling Item Excluding Corporate Nonsegment

0.1 %

of total Revenue

Las Vegas Locals

21.77 %

of total Revenue

Las Vegas Locals Casino

15.85 %

of total Revenue

Las Vegas Locals Food and Beverage

2.28 %

of total Revenue

Las Vegas Locals Occupancy

2.07 %

of total Revenue

Las Vegas Locals Product and Service Other

1.58 %

of total Revenue

Downtown Las Vegas

5.51 %

of total Revenue

Downtown Las Vegas Casino

3.43 %

of total Revenue

Downtown Las Vegas Food and Beverage

1.09 %

of total Revenue

Downtown Las Vegas Occupancy

0.69 %

of total Revenue

Downtown Las Vegas Product and Service Other

0.3 %

of total Revenue

Midwest and South

52.65 %

of total Revenue

Midwest and South Casino

44.82 %

of total Revenue

Midwest and South Food and Beverage

4.23 %

of total Revenue

Midwest and South Occupancy

1.85 %

of total Revenue

Midwest and South Product and Service Other

1.75 %

of total Revenue

Online Online

2.63 %

of total Revenue

Online Online Reimbusements

13.58 %

of total Revenue

Boyd Gaming Corp Company Profile

Business Description

Fundamental Analysis