Boyd Gaming Corp
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 Sam's 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.