MIXED RESULTS: MGM Mirage Inc. reported earnings per share of 42 cents, below analysts' expectations of 50 cents; revenue rose 6 percent to $1.9 billion. Wynn Resorts Ltd. reported adjusted per-share income of 67 cents per share, beating estimates of 63 cents; revenue more than doubled to $637 million.
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Shares of Boyd Gaming Corp. surged Wednesday as investors cheered the casino operator's third-quarter earnings report. The company posted a profit of $31.8 million, or 36 cents per share, compared with a loss of $12.9 million, or 15 cents per share, in the year-ago quarter.
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Casino operators MGM Mirage Inc. and Wynn Resorts Ltd. reported third-quarter results Tuesday that got a mixed reception on Wall Street, but the companies laid out bets for the future that include billions of dollars of expansion projects focused on Macau and Las Vegas.
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Shares of Boyd Gaming were on the rise Wednesday, gaining more than 6% after the casino operator swung back to the profit column in the third quarter on brisk business in Las Vegas and fewer charges.
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Casino operator Boyd Gaming Corp. on Wednesday declared a regular quarterly dividend of 15 cents. The company will pay the dividend on Dec. 3 to shareholders of record Nov. 16.
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Shares of Wynn Resorts Ltd. declined Wednesday as some analysts said the casino operator's third-quarter property level results were likely below investor expectations.
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Boyd Gaming Corp. said Wednesday it swung to a third-quarter profit, as a hefty charge on the sale of its South Coast Hotel and Casino hurt year-ago results.
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Another of the older casinos on the Las Vegas Strip will soon be just a memory. The New Frontier will be imploded at 2:30 a.m. on November 13, 2007....
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Shares of Las Vegas Sands Corp. slipped Wednesday as a Lehman Brothers analyst downgraded the casino operator's stock, saying it is too expensive.
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Boyd Gaming Corporation today reported financial results for the third quarter ended September 30, 2007.
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