October 1, 2014
LAS VEGAS (AP) - Boyd Gaming Corp. is posting a fourth-quarter
loss of $220.8 million, citing impairment charges related to some
prior acquisitions and a consumer spending pullback.
But adjusted results met analysts' estimates for the Las
Vegas-based casino operator.
Boyd president and chief executive Keith Smith says results for
the quarter ending Dec. 31 reflect the ongoing recession and
consumers scaling back on discretionary spending.
The company posted a loss of $2.51 per share, compared with a
profit of $31.2 million, or 35 cents per share, a year earlier.
Fourth-quarter results included $290.2 million in impairment
charges taken to write down some acquisitions to account for their
fair value as of Dec. 31.
Las Vegas-based Boyd has 16 gambling properties in Nevada, New
Jersey, Mississippi, Illinois, Indiana, and Louisiana.
It said Monday it's interested in acquiring the assets from a
struggling rival, Station Casinos.
Copyright 2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.