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What: Shares of regional gaming operator Boyd Gaming
So what: Revenue rose 7% to $615.2 million in the quarter, but fell short of the $626.9 million analysts had expected. Net income was just under $1 million, or $0.04 per share on an adjusted basis, also falling below estimates of $0.10.
Now what: New Jersey was the big loser with revenue falling 4% to $175.4 million. The biggest concern is that total adjusted EBITDA fell 3.9% in the quarter to $113.8 million, showing that the company as a whole isn't headed in the right direction. But the Midwest and South both had strong returns and are returning to a profit -- even if a small one, it's better than last year. I'm not buying into the stock until I see some improvement, and with gaming expanding across the country I'm afraid significant improvement may be a ways off.
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Fool contributor Travis Hoium does not have a 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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