LAS VEGAS » Casino operator Boyd Gaming Corp., which runs six nonstop charter flights a week to Las Vegas from Honolulu, said yesterday its third-quarter profit tumbled 73 percent on increased competition, softening spending and weather-related closures.

Chief Operating Officer Paul Chakmak said the company's downtown properties were not only affected by the economic slowdown but by reduced airline capacity from Hawaii after the shutdowns of Aloha and ATA airlines.

“;As a result, the ability for Hawaiians to get to Las Vegas has become more difficult as scheduled airline capacity has been significantly reduced,”; he said.

Still, charter subsidiary Vacations Hawaii's revenue inched up 1 percent to $9.9 million from $9.8 million in the year-earlier quarter, while revenue through the first nine months rose 0.3 percent to $32.3 million from $32.2 million.

Hawaii residents primarily frequent Boyd's downtown properties, which include the California Hotel & Casino, the Fremont Hotel & Casino and the Main Street Station Casino, Brewery & Hotel.

The gambling industry has been pressured as consumers continue to curb spending due to the ongoing housing downturn, eroding credit, escalating food costs and recession fears.

Boyd's income from continuing operations slid to $8.7 million, or 10 cents a share, from $31.9 million, or 36 cents a share, in the same quarter the previous year.

Excluding pre-opening costs, write-downs and other items, earnings were $14 million, or 16 cents a share, down from $38.4 million, or 43 cents a share.

Analysts expected earnings of 19 cents a share, according to a Thomson Reuters survey. Analyst estimates typically exclude one-time items.

For the period ended Sept. 30, revenue slipped 13 percent to $426.5 million from $490.1 million.

Analysts expected revenue of $440.5 million.

Revenue at properties frequented by Las Vegas locals fell to $181.8 million from $203.8 million, while downtown Las Vegas revenue slipped to $55.6 million from $59.3 million. Revenue in the company's Midwest and South regions dropped to $189.1 million from $226.9 million.

Boyd said its quarterly results were hurt by hurricane-related closures at its Treasure Chest and Delta Downs properties in Louisiana and capital interest for its $4.8 billion Echelon resort under development in Las Vegas.