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In preparation for BYD's F4Q earnings release Monday, we’ve put together the recent pertinent forward looking company commentary.

BOYD GAMING ANNOUNCES AGREEMENT TO SELL DANIA JAI-ALAI (2/28)

  • Entered into a definitive agreement to sell the assets of Dania Jai-Alai in Dania Beach, Fla., to Dania Entertainment Center, LLC, for $65.5 million in cash.  As part of the agreement, the $7 million deposit previously paid by Dania Entertainment to Boyd Gaming will be applied to the purchase price.
  • Subject to terms of the definitive agreement and satisfaction of closing conditions, the transaction is expected to close on or before May 24, 2013.  The Company intends to use proceeds for general corporate purposes, including the repayment of debt.

BOYD GAMING COMPLETES ACQUISITION OF KANSAS STAR CASINO'S OPERATOR (11/20)

YOUTUBE FROM 4Q CONFERENCE CALL

  • "We expect wholly-owned EBITDA after the deduction for corporate expense to be in the range of $70 million to $75 million."
  • "Our Midwest and South region... is currently the healthiest region of the domestic gaming industry and the most robust part of our business."
  • "We were especially pleased by the continued strong performance of the IP, which delivered its largest year-over-year EBITDA improvement since we acquired it a year ago."
  • "Upon completion of the Peninsula transaction, we will have added six properties in just over a year, generating approximately $250 million in additional EBITDA annually."
  • "Atlantic City.... the... environment remains competitive. Weakness was concentrated in our table games business, where both volume and hold fell year-over-year. This accounted for almost the entire EBITDA shortfall. Still, there were encouraging signs as our slot and non-gaming business showed growth. Borgata remains the undisputed market leader and we expect it will be Atlantic City's premier destination resort for years to come."
  • "As expected, we saw growth resume in our Downtown business segment in the third quarter and we anticipate this positive trend will continue in the fourth."
  • "The Las Vegas Locals business remains extremely competitive...we're continuing our efforts to grow business from casual players. Penny denomination games are popular with these guests and are one of the few segments of the Locals market to show growth in recent months. So we've recently taken steps to ensure we are well positioned in this area and are nearing completion of the rollout of some 1,500 new penny themes across our Southern Nevada properties. Starting today we have begun to aggressively promote these new games. While we believe this initiative will be attractive to slot players, video poker will remain an essential part of our business, especially among our core players. We will continue to offer our guests what we believe is the most competitive video poker product in Las Vegas."
  • "Revel spent a lot of marketing dollars, they were very aggressive in buying business, in trying to gain trial and gain some traction. We increased our promotional dollars slightly. If you look at some of our slot promotional credits, they're up slightly year-over-year, but not substantially, and not compared to what the rest of the market is doing."
  • "We know that in certain markets like Tunica, Mississippi and Shreveport, Louisiana, there is a significant amount of competition both within the specific geographic market as well as within neighboring states. But I've got to tell you, I feel awfully good as to where we perform in those markets relative to our competitors that post those results. And you can see it in the revenue numbers that are published especially in Louisiana as it relates to Sam's Town Shreveport."
  • "Regarding CapEx, we're kind of spending at what is in today's world a fairly normal level, wouldn't expect anything – any abnormal capital spending. We have announced... that we'll be wrapping the Echelon property and sprucing up some landscaping. It's to the tune of a couple of million dollars, so it's nothing significant. That work will take place first... first couple of months of the year or so."
  • "On the FTE side, we obviously took measures really at this point years ago in adjusting FTEs for the business levels. And at this point in time we really don't see any further opportunity of any significance to do that."
  • "If I had to make a guess...it will continue to be fairly promotionally aggressive in... Atlantic City."
  • "I wouldn't say that promotions have abated. I think they're at very much kind of the same state they were in through the summer. What we have seen is spend per visitor in the Las Vegas Locals segment flatten out."