LAS VEGAS, Jan. 14, 2014 /PRNewswire/ -- Boyd
Gaming Corporation (NYSE: BYD) today provided the following
statement regarding the December 2013
online gaming data release by the New Jersey Division of Gaming
Enforcement.
(Logo: http://photos.prnewswire.com/prnh/20030219/BOYDLOGO)
Keith Smith, President and Chief
Executive Officer of Boyd Gaming, said:
"We are extremely encouraged by Borgata's performance during the
first full month of online wagering. While this is just one
month of results, the leadership position we have built at Borgata
over the last decade has clearly carried over to our online
presence.
"When matching our online and land-based data bases, we found
that 60 percent of online casino customers had not been to Borgata
in over a year, and over 75 percent had made fewer than two trips
to Borgata in the past year. And on a combined basis, online
and land-based poker revenue at Borgata was up more than 40 percent
from our land-based play in December
2012. Clearly, online gaming is complementary to our
land-based business, not competitive.
"Having New Jersey's most trusted gaming brand has provided a
solid foundation for our successful online launch. Our
network has attracted the largest pool of players in the
New Jersey online market, allowing
us to offer our customers a wide selection of games and table
stakes at all times. This gives our network a significant
competitive advantage and positions us for further success."
"We are confident that as we refine our marketing efforts,
improve the customer experience, and introduce our mobile product,
we will further strengthen our leading position in online gaming.
We have significant room for growth ahead of us."
"Boyd Gaming embraces online gaming and sees it as an important
distribution opportunity. The roll-out in New Jersey is a good first step, but we are
looking forward to opportunities in other markets as
well. "
Commenting on Borgata's land-based operations, Smith said:
"Results for our land-based operations for December did not meet
our expectations. However, the shortfall was due to several
short-term factors, including an unusually low hold percentage and
severe winter weather during two weekends. While we are
disappointed in the December results, we remain optimistic that the
positive momentum we have seen in recent months will continue in
2014."
About Boyd Gaming
Headquartered in Las Vegas, Boyd Gaming Corporation (NYSE:
BYD) is a leading diversified owner and operator of 22
gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas,
Louisiana, Mississippi and New Jersey. Boyd Gaming
press releases are available at www.prnewswire.com.
Additional news and information on Boyd Gaming can be found at
www.boydgaming.com.
Forward-looking Statements
This press release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Such statements
contain words such as "may," "will," "might," "expect," "believe,"
"anticipate," "could," "would," "estimate," "continue," "pursue,"
or the negative thereof or comparable terminology, and may include
(without limitation) information regarding the Company's
expectations, goals or intentions regarding future performance. In
addition, forward-looking statements in this press release include
statements regarding: expectations regarding Borgata's results for
the fourth quarter of 2013, including specifically in the month of
December; optimism for Borgata's results in 2014; Borgata's
performance during the first full month of online wagering; the
complementary position that online gaming occupies in relation to
the Company's land-based business; the potential success based on
Borgata's online product offerings and the composition of Borgata's
online player pool; and the potential for continued growth in the
future. Forward-looking statements involve certain risks and
uncertainties, and actual results may differ materially from those
discussed in any such statement. These risks and uncertainties
include, but are not limited to: fluctuations in the Company's
operating results; recovery of its properties in various markets;
the state of the economy and its effect on consumer spending and
the Company's results of operations; the timing for economic
recovery, its effect on the Company's business and the local
economies where the Company's properties are located; the receipt
of legislative, and other state, federal and local approvals for
the Company's development projects in Florida, California and other jurisdictions; whether
online gaming will become legalized in various states, the
Company's ability to operate online gaming profitably, or
otherwise; consumer reaction to fluctuations in the stock market
and economic factors; the fact that the Company's expansion,
development and renovation projects (including enhancements to
improve property performance) are subject to many risks inherent in
expansion, development or construction of a new or existing
project; the effects of events adversely impacting the economy or
the regions from which the Company draws a significant percentage
of its customers; competition; litigation; financial community and
rating agency perceptions of the Company and its subsidiaries;
changes in laws and regulations, including increased taxes; the
availability and price of energy, weather, regulation, economic,
credit and capital market conditions; and the effects of war,
terrorist or similar activity. Additional factors that could cause
actual results to differ are discussed under the heading "Risk
Factors" and in other sections of the Company's Annual Report on
Form 10-K, its Quarterly Reports on Form 10-Q, and in the Company's
other current and periodic reports filed from time to time with the
SEC. All forward-looking statements in this press release are made
as of the date hereof, based on information available to the
Company as of the date hereof, and the Company assumes no
obligation to update any forward-looking statement.
SOURCE Boyd Gaming Corporation