The anemic economic recovery has hit some of domestic gaming's biggest regions awfully hard this year. Las Vegas is among the U.S. leaders in unemployment, and the South isn't far behind. Since that's where many of Boyd Gaming's
Overall at Boyd, revenue fell $5.2 million to $590.2 million and earnings per share fell 2 cents to $0.04. But adjusted EBITDA did rise 5.8% to $122 million from a year earlier, showing a little improvement if you're looking for a bright side.
The Las Vegas locals market, downtown Las Vegas, and Midwest and South regions were basically flat from a year ago, showing that a gaming recovery in the U.S. is anything but strong. It was Borgata in Atlantic City that was most disappointing, where revenue fell 2.7% to $207.7 million and adjusted EBITDA dropped 7.4% to $50.3 million.
With $2.4 billion in debt at Boyd and another $806 million for Borgata, it's hard to see Boyd as a great risk to take right now.
U.S. vs. Asia
I noted last week that Penn National
That's why the best bets in gaming are still half a world away.
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Fool contributor Travis Hoium has no position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings, or follow his CAPS picks at TMFFlushDraw.
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