Boyd Gaming Corporation - BYD STOCK NEWS

Boyd Gaming and Hawaiian Airlines have established a strategic partnership, allowing loyalty members to earn enhanced benefits through Boyd's B Connected program and HawaiianMiles. Effective immediately, this collaboration offers reciprocal earning and redemption options, increasing the attractiveness of both loyalty programs. Customers can enjoy exclusive rewards, discounts, and unique experiences across Boyd's properties and Hawaiian Airlines. This initiative targets Boyd Gaming's audience, particularly those traveling to Hawaii, enhancing customer engagement and loyalty.

Boyd Gaming Corporation (NYSE: BYD) has successfully closed its offering of $900 million in 4.750% senior notes due in 2031. The notes carry a semi-annual interest rate of 4.750%, with payments starting on September 15, 2021. Proceeds from this offering will be utilized to redeem existing senior notes with higher interest rates, specifically the 6.375% and 6.000% notes due in 2026. These new notes are guaranteed by certain domestic subsidiaries.

Boyd Gaming Corporation (NYSE: BYD) announced the pricing of its senior notes offering, now increased to $900 million, with a maturity set for June 15, 2031. The notes will carry an interest rate of 4.750%, payable semi-annually, starting on September 15, 2021. Proceeds will be used to redeem outstanding senior notes due 2026 and cover related expenses. The offering is expected to close on June 8, 2021, subject to customary conditions. The notes will be sold under SEC Rule 144A, and all forward-looking statements are accompanied by inherent risks.

Boyd Gaming Corporation (NYSE: BYD) announced a private placement offering of $750 million in senior notes due 2031. The notes will be guaranteed by certain current and future domestic restricted subsidiaries. Proceeds will be used to redeem all outstanding 6.375% notes and some 6.000% notes due 2026, utilizing cash on hand and revolving credit borrowings. The offering targets qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S. This announcement does not constitute an offer to purchase the notes.

Boyd Gaming Corporation (NYSE: BYD) reported a strong financial performance for Q1 2021, with revenues of $753.3 million, up 10.7% from $680.5 million in Q1 2020. The net income reached $102.2 million or $0.90 per share, recovering from a net loss of $147.6 million in the prior year. Adjusted EBITDAR increased to $292.6 million, reflecting significant growth in operating margins, reaching 38.8%. The increase in customer visitation and spending, alongside successful strategic initiatives, contributed to this performance. The company held $730.9 million in cash and $3.94 billion in total debt as of March 31, 2021.

Boyd Gaming Corporation (NYSE: BYD) will host a conference call on April 27, 2021, at 5:00 p.m. Eastern to discuss its first-quarter results. The results will be reported shortly after 4:00 p.m. Eastern the same day. Interested parties can call (888) 317-6003 with passcode 5421832 and should join 15 minutes early. A replay can be accessed at (877) 344-7529 starting at 7:00 p.m. Eastern on April 27 through May 4. The conference will also be streamed live on Boyd Gaming's website.

Boyd Gaming (NYSE: BYD) and FanDuel Group are set to launch Stardust-branded online casinos in New Jersey and Pennsylvania, anticipated for April. The launch follows regulatory approval and will rebrand FanDuel's Betfair Casino in New Jersey and introduce a new casino in Pennsylvania. The single Stardust Casino app will support both states, linking to Boyd's B Connected loyalty program. The casinos will feature a variety of games and a commitment to responsible gaming. Boyd's CEO expressed confidence in the brand's appeal, enhancing their market presence.

Boyd Gaming Corporation (NYSE: BYD) and the Wilton Rancheria Tribe have announced plans to commence construction of a gaming resort in Elk Grove, California, with groundbreaking scheduled for March 9, 2021. The resort, strategically located 15 miles south of Sacramento, aims to open in the second half of 2022, offering 2,000 slot machines and over 80 table games. Financing has been secured, marking a significant step towards realizing the tribe’s vision for economic self-sufficiency and community investment.

Boyd Gaming Corporation reported Q4 2020 revenues of $635.9 million, down from $833.1 million in Q4 2019. Net income increased to $83.3 million ($0.73 per share) from $24.3 million ($0.21 per share) year-on-year. Record EBITDAR margins of 33.1% were achieved, with significant growth in online gaming through its partnership with FanDuel. For FY 2020, total revenues were $2.18 billion, compared to $3.33 billion in 2019, and a net loss of $134.7 million was reported. Boyd remains optimistic about the long-term prospects of online gaming.