Boyd Gaming Corporation (NYSE: BYD) today announced the following results from Borgata's online gaming operations in the month of April.
Combined, Borgata and partypoker generated $4.1 million in online gaming revenue, leading the New Jersey online gaming market with a 36% share. Borgata's online revenue was $3.1 million, up slightly on a per-day basis from March. The property's standalone market share was 27.5%.
Keith Smith, President and Chief Executive Officer of Boyd Gaming, said:
"We continue to successfully leverage online gaming as a way to expand our customer base. So far, we have created more than 55,000 online accounts, and nearly 75% are players who have not visited Borgata in at least a year. And we are starting to convert these players into new customers of our land-based business; to date, nearly 10% of them have made at least one trip to Borgata. As these customers experience the Borgata brand of hospitality, we are confident that many will want to return."
"Our online business helped drive significant gains in Borgata's poker revenues as well, as revenue from our land-based and online poker operations grew more than 40% year-over-year in April. The WPT Championship made a very successful debut at Borgata in April – doubling the number of entrants from last year -- and we also saw strong play in the New Jersey Championship of Online Poker."
"We continue to enhance our product, add new game titles, and refine our processes, bonus promotions and tournament schedules. Looking beyond New Jersey, we are encouraged that lawmakers in other states are now actively exploring online gaming, and we remain optimistic about the long-term growth potential for our Company."
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.
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: the Company's ability to continue to leverage online gaming to grow customers; our confidence of returning and repeat customers; the potential for growth in the online gaming market in the rest of the country in the future; the long-term growth potential for the Company; and Borgata's position in the New Jersey gaming market, including the online gaming market. 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: the state of the economy and its effect on consumer spending; the intense competition that exists in the gaming industry; the potential incurrence of impairments to goodwill, indefinite-lived intangible assets or long-lived assets; our inability to select a new partner in the limited liability company that operates Borgata; 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.