On April 26, Boyd Gaming
- Revenue declined 12%, as a result of closing Las Vegas's Stardust casino, and tough competition in the key Las Vegas locals and Atlantic City markets.
- Non-gaming revenue at the Borgata increased by 19%, fueled largely by the casino's expansion project.
- Boyd completed its acquisition of Dania Jai-Alai in Florida, one of four pari-mutuel facilities with Class III slot machines.
- Boyd carries a three-star rating in Motley Fool CAPS, while soon-to-be-private competitor Station Casinos
(NYSE:STN) earned only one star.
(Figures in millions, except per-share data.)
Income Statement Highlights
Q4 2006 |
Q4 2005 |
Change |
|
---|---|---|---|
Sales |
$517.0 |
$589.6 |
(12.3%) |
EBITDA |
$155.4 |
$204.4 |
(24%) |
Net Profit |
$33.5 |
$65.3 |
(48.7%) |
EPS |
$0.38 |
$0.72 |
(47.2%) |
Diluted Shares |
88.5 |
90.9 |
(2.6%) |
Get back to basics with the income statement.
Margin Checkup
Q4 2006 |
Q4 2005 |
Change* |
|
---|---|---|---|
EBITDA Margin |
30.1% |
34.7% |
(4.6) |
Operating Margin |
18% |
23.5% |
(5.5) |
Net Margin |
6.5% |
11.1% |
(4.6) |
Margins are the earnings engine.
EBITDA by Region
2006 |
2005 |
Change |
|
---|---|---|---|
Las Vegas Locals |
$74.6 |
$82.0 |
(9%) |
Stardust |
$0.0 |
$6.8 |
N/A |
Downtown Las Vegas |
$13.9 |
$14.1 |
(1.6%) |
Midwest and South |
$57.3 |
$83.9 |
(31.7%) |
Borgata* |
$21.9 |
$25.4 |
(13.9%) |
Related Foolishness:
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