BYD 4Q 2013 YOUTUBE

In preparation for BYD FQ4 2013 earnings release tonight, we’ve put together the recent pertinent forward looking company commentary.

 

 

UPDATED 4Q GUIDANCE 

  • BORGATA EBITDA $15-17m
  • Wholly-owned Adjusted EBITDA post corp:  $105-110m
    • Despite the impact of soft market conditions and winter weather on operations in the Midwest and South and Peninsula segments, the Company's wholly-owned operations performed in-line with expectations in 4Q, benefitting from continued performance in the Las Vegas Locals and Downtown Las Vegas segments. 
    • 4Q Wholly-owned Adjusted EBITDA excludes a favorable property tax adjustment of $9.3m

CONSUMER TRENDS

  • Lower end of our database (“rubies”) - similar amount of trips, but spending less.
  • From September to October, saw recovery at properties in the Ruby tier of the database (not to prior year levels in all cases, but certainly sequentially from September to October improvements)
  • In October, most of our operations are showing improvement over last month

ON-LINE GAMING 

  • Expanding into social gaming…Stardust Casino, another social gaming product is currently in a test period prior to an anticipated roll out in the United States in the coming months

WILTON RANCHERIA

  • Work is underway for our project with the Wilton Rancheria Tribe

PENNY LANE INITIATIVE

  • Launch an enhanced Penny Lane at all seven of our major Las Vegas properties.
  • Begin a phased rollout of Penny Lane in the Midwest and South
  • Ultimately get to the new Peninsula properties sometime next year

LV LOCALS

  • Expect very modest revenue growth
  • Seeing the benefits of the refinements we have made to our marketing and operations

DOWNTOWN

  • Continue to improve yield on our Hawaiian charter service
  • During the three-month period ending in September, we captured a 31.6% market share
  • A hotel casino just reopened this past weekend returning more than 600 rooms to the Downtown inventory

BLUE CHIP

  • Blue Chip is contending with new capacity in both Michigan and Ohio

SOUTH

  • Benefiting from strong economic conditions in Southeast Texas and gaining market share there
  • Diamond Jo Dubuque successfully grew visitation
  • At Kansas Star, new non-gaming offerings continued to drive top-line growth. However, expenses are naturally higher year-over-year as well to support the significant amenities that have been added. Removed quite a bit of cost out of the business since BYD first opened the permanent facility early this year. And BYD will continue to focus on growing revenue to realize the full potential of our investment.

BORGOTA

  • 4Q results were impacted by several short-term factors in December, including an unusually low hold percentage and severe winter weather during two weekends. 
  • 4Q guidance do not include any meaningful impacts from online gaming.

BYD 4Q 2013 YOUTUBE - byd


7 Tweets Summing Up What You Need to Know About Today's GDP Report

"There's a tremendous opportunity to educate people in our profession on how GDP is stated and projected," Hedgeye CEO Keith McCullough wrote today. Here's everything you need to know about today's GDP report.

read more

Cartoon of the Day: Crash Test Bear

In the past six months, U.S. stock indices are up between +12% and +18%.

read more

GOLD: A Deep Dive on What’s Next with a Top Commodities Strategist

“If you saved in gold over the past 20 to 25 years rather than any currency anywhere in the world, gold has outperformed all these currencies,” says Stefan Wieler, Vice President of Goldmoney in this edition of Real Conversations.

read more

Exact Sciences Up +24% This Week... What's Next? | $EXAS

We remain long Exact Sciences in the Hedgeye Healthcare Position Monitor.

read more

Inside the Atlanta Fed's Flawed GDP Tracker

"The Atlanta Fed’s GDPNowcast model, while useful at amalgamating investor consensus on one singular GDP estimate for any given quarter, is certainly not the end-all-be-all of forecasting U.S. GDP," writes Hedgeye Senior Macro analyst Darius Dale.

read more

Cartoon of the Day: Acrophobia

"Most people who are making a ton of money right now are focused on growth companies seeing accelerations," Hedgeye CEO Keith McCullough wrote in today's Early Look. "That’s what happens in Quad 1."

read more

People's Bank of China Spins China’s Bad-Loan Data

PBoC Deputy Governor Yi says China's non-performing loan problem has “pretty much stabilized." "Yi is spinning. China’s bad-debt problem remains serious," write Benn Steil and Emma Smith, Council on Foreign Relations.

read more

UnderArmour: 'I Am Much More Bearish Than I Was 3 Hours Ago'

“The consumer has a short memory.” Yes, Plank actually said this," writes Hedgeye Retail analyst Brian McGough. "Last time I heard such arrogance was Ron Johnson."

read more

Buffalo Wild Wings: Complacency & Lack of Leadership (by Howard Penney)

"Buffalo Wild Wings has been plagued by complacency and a continued lack of adequate leadership," writes Hedgeye Restaurants analyst Howard Penney.

read more

Todd Jordan on Las Vegas Sands Earnings

"The quarter actually beat lowered expectations. Overall, the mass segment performed well although base mass lagging is a concern," writes Hedgeye Gaming, Lodging & Leisure analyst Todd Jordan on Las Vegas Sands.

read more

An Update on Defense Spending by Lt. Gen Emo Gardner

"Congress' FY17 omnibus appropriation will fully fund the Pentagon's original budget request plus $15B of its $30B supplemental request," writes Hedgeye Potomac Defense Policy analyst Lt. Gen Emerson "Emo" Gardner USMC Ret.

read more

Got Process? Zero Hedge Sells Fear, Not Truth

Fear sells. Always has. Look no further than Zero Hedge.

read more