Boyd Gaming sees light at the end of the tunnel after poor Q2 trading added to tin tuc on Trello
thanhtu09071999 added the card Boyd Gaming sees light at the end of the tunnel after poor Q2 trading to the Boyd Gaming sees light at the end of the tunnel after poor Q2 trading list in the tin tuc board at July 29, 2020 at 08:53PM
Boyd Gaming sees light at the end of the tunnel after poor Q2 trading https://sbcamericas.com/2020/07/29/boyd-gaming-sees-light-at-the-end-of-the-tunnel-after-poor-q2-trading/ Boyd Gaming Corporation has posted its Q2 financials this week, revealing inevitable losses due to the Covid-19 outbreak, but also anticipating future growth in line with the expanding US sports betting sector. Due to impacts of the COVID-19 pandemic, the firm recorded Q2 revenues of $209.9m versus $846.1m year-on-year and a net loss of $108.5m compared to net income of $48.5m for the corresponding period in 2019. Total adjusted Q2 EBITDAR was $16.1m compared to $232.6m year-on-year. Adjusted Earnings for the second quarter of 2020 reflect a loss of $110.5m compared to $52.5m for the same period in 2019. Keith Smith, President and CEO, said: “Across the country, our team members did a tremendous job getting our properties back open quickly and safely over the final six weeks of the quarter. And since reopening began, we are off to an excellent start. On a comparable basis at our reopened properties, we achieved company wide EBITDAR growth and significant margin improvement while complying with state-regulated reductions in gaming capacity. “During the reopening period, our Midwest & South properties posted double-digit EBITDAR gains, while our Las Vegas Locals properties also improved EBITDAR performance versus prior year. “While overall visitation and revenues are down, spend per visit is robust, and we have successfully streamlined operating and marketing expenses to drive margin gains of more than 1,000 basis points in both the Midwest & South and Las Vegas Locals segments. These positive operating trends are continuing into July, giving us confidence that we can sustain increased efficiencies in our operating model.” Smith continued: “We are also making great progress positioning our company for the digital future of our industry. With the recent launch of our Stardust Social Casino mobile app, we established our first interactive gaming presence under the Stardust brand. “We also continued to expand our strategic partnership with FanDuel Group as we introduced an online casino product in the state of Pennsylvania. With our industry-leading strategic partner and the iconic Stardust brand, Boyd Gaming is in an excellent position to capitalize on the compelling growth opportunity presented by interactive gaming and mobile sports betting.” via SBC Americas https://sbcamericas.com July 29, 2020 at 07:54PM https://gametoping.com
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Boyd Gaming sees light at the end of the tunnel after poor Q2 trading https://sbcamericas.com/2020/07/29/boyd-gaming-sees-light-at-the-end-of-the-tunnel-after-poor-q2-trading/ Boyd Gaming Corporation has posted its Q2 financials this week, revealing inevitable losses due to the Covid-19 outbreak, but also anticipating future growth in line with the expanding US sports betting sector. Due to impacts of the COVID-19 pandemic, the firm recorded Q2 revenues of $209.9m versus $846.1m year-on-year and a net loss of $108.5m compared to net income of $48.5m for the corresponding period in 2019. Total adjusted Q2 EBITDAR was $16.1m compared to $232.6m year-on-year. Adjusted Earnings for the second quarter of 2020 reflect a loss of $110.5m compared to $52.5m for the same period in 2019. Keith Smith, President and CEO, said: “Across the country, our team members did a tremendous job getting our properties back open quickly and safely over the final six weeks of the quarter. And since reopening began, we are off to an excellent start. On a comparable basis at our reopened properties, we achieved company wide EBITDAR growth and significant margin improvement while complying with state-regulated reductions in gaming capacity. “During the reopening period, our Midwest & South properties posted double-digit EBITDAR gains, while our Las Vegas Locals properties also improved EBITDAR performance versus prior year. “While overall visitation and revenues are down, spend per visit is robust, and we have successfully streamlined operating and marketing expenses to drive margin gains of more than 1,000 basis points in both the Midwest & South and Las Vegas Locals segments. These positive operating trends are continuing into July, giving us confidence that we can sustain increased efficiencies in our operating model.” Smith continued: “We are also making great progress positioning our company for the digital future of our industry. With the recent launch of our Stardust Social Casino mobile app, we established our first interactive gaming presence under the Stardust brand. “We also continued to expand our strategic partnership with FanDuel Group as we introduced an online casino product in the state of Pennsylvania. With our industry-leading strategic partner and the iconic Stardust brand, Boyd Gaming is in an excellent position to capitalize on the compelling growth opportunity presented by interactive gaming and mobile sports betting.” via SBC Americas https://sbcamericas.com July 29, 2020 at 07:54PM https://gametoping.com
View on Trello
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