Boyd Gaming Corp: Key Developments
Boyd Gaming Corp. Q3 2009 Profit Falls-AP
October 27, 2009 |
| The Associated Press reported that shares of Boyd Gaming Corp. fell sharply as the Company economy took a toll on the casino operator's revenue and plans for expansion. In the three months ended September 30, the Company earned $6.3 million, or $0.07 per share. That's off 28% from the $8.7 million, or $0.10 per share, previous year. Adjusted profit was $0.09 per share, which accounts for a $14.4 million gain related to an insurance settlement that offset a $13.5 million impairment charge related to a joint venture with Morgans Hotel Group at Echelon. |
Boyd Gaming Corp. Announces Non-Binding Preliminary Indication Of Interest To Station Casinos, Inc.
February 23, 2009 |
| Boyd Gaming Corp. announced that it has delivered a non-binding preliminary indication of interest to the Board of Directors of Station Casinos, Inc. (Station). The Company is interested in exploring an acquisition of 100% of the OpCo Assets. In addition, the Company determine to pursue sale transactions with respect to the PropCo Assets, we would consider an acquisition that includes those assets as well. OpCo Assets means all of Station's assets. |
Boyd Gaming Corp. Opens Blue Chip Expansion
January 22, 2009 |
| Boyd Gaming Corp. announced that opened its $130 million expansion project at Blue Chip Casino, Hotel & Spa. The centerpiece of the project is the SPA BLU TOWER, a 22-story, 302-room upscale hotel tower designed by leading Chicago architect Lucien Lagrange. |
Boyd Gaming Corp. Files $750 Million Mixed Securities Shelf-DJ
December 12, 2008 |
| Dow Jones reported that Boyd Gaming Corp. registered with the Securities and Exchange Commission to sell from time to time up to $750 million of common stock, preferred stock, debt securities, warrants and units. The Company said it intends to use the net proceeds from the sale of securities for general corporate purposes. |
Morgans Hotel Group Co. Announces Amended Agreement For Echelon Project In Las Vegas With Boyd Gaming Corp.
September 25, 2008 |
| Morgans Hotel Group Co. announced that it has entered into an amended agreement with Boyd Gaming Corp. with regard to the companies' joint venture to develop a Mondrian and Delano within Boyd Gaming Corp.'s existing Echelon development in Las Vegas. The amended agreement, among other things, provides for the following. The immediate return to Morgans Hotel Group Co. of its $30 million deposit provided for the project, plus interest, the elimination of Morgans Hotel Group Co.'s future funding obligations of approximately $41 million, the elimination of any obligation by Morgans Hotel Group Co. to provide a construction loan guaranty, and sole control by Morgans Hotel Group Co. over the use of its Delano and Mondrian brands in connection with the project. The amended agreement also limits the amounts that Morgans Hotel Group Co. and Boyd Gaming Corp. are required to continue to fund for pre-development and related costs to approximately $420,000 each. The deadline to obtain construction financing has been extended to December 31, 2009. Each party has the right to terminate the joint venture for any reason prior to December 31, 2009. Additionally, the terms of the management agreement, which provide for an Morgans Hotel Group Co. affiliate to operate the joint venture hotels upon their completion, remain unchanged. |
|
|
Recent News