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Boyd Gaming reports
earnings soar 176 percent

New slots help boost the quarter
for the gambling company


From staff and wire reports

Casino operator Boyd Gaming Corp., which conducts charter travel packages from Hawaii to Las Vegas, yesterday reported higher third-quarter earnings, driven partly on increased revenue from startups of slot machines and dockside gambling in the past year.

Las Vegas-based Boyd reported net income of $11.3 million, or 17 cents a share, compared with $4.1 million, or 7 cents a share, a year earlier.

Earnings before pre-opening expenses and before early debt retirement were 23 cents a share, compared with 9 cents a share before pre-opening expenses a year earlier, Boyd said.

Consolidated net revenue rose to $308 million in the quarter from $273 million, mainly because of a slot machine startup at Louisiana's Delta Downs Racetrack and Casino in February and a dockside operations startup at Indiana's Blue Chip in August, Boyd said.

Total property earnings before interest, taxation, depreciation and amortization rose to $73.2 million in the quarter, from $58.5 million a year earlier.

Last month, Boyd said it was switching carriers in its Hawaii-Las Vegas charter business to Tulsa, Okla.-based Omni Air International from Hawaiian Airlines. Hawaiian said the contract was worth about $30 million in annual revenue but had not been profitable.

Boyd's stock closed up 23 cents today at $13.50 on the New York Stock Exchange and has gained 108 percent this year.



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