About Par-A-Dice Gaming Corporation

Boyd Gaming is one of the country's leading casino operators. The company operates about 25 gaming entertainment properties located in Nevada and several other US states. Besides Nevada, Boyd Gaming has casinos in Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, and New Jersey. Most of the company's properties are sprawling resort hotels that feature pools, full casinos, restaurants, shops, and on-site entertainment options for guests. In addition to its casinos, Boyd Gaming owns and operates a travel agency in Hawaii. Boyd Gaming was established in 1974.

Operations

The company has three reportable segments: Midwest and South; Las Vegas Locals; and Downtown Las Vegas.

Midwest and South properties is the largest segment accounted for about 60% of the total revenue, consist of three land-based casinos, five dockside riverboat casinos, two racinos and two barge-based casinos that operate in six states in the Midwest and southern United States. Generally, these states allow casino gaming on a limited basis through the issuance of a limited number of gaming licenses

Las Vegas Locals (30% of revenue) is consists of nine casinos that primarily serve the resident population of the Las Vegas metropolitan area includes Gold Coast Hotel and Casino; The Orleans Hotel and Casino; Sam's Town Hotel and Gambling Hall; Suncoast Hotel and Casino; Eastside Cannery Casino and Hotel; Aliante Casino; Cannery Casino Hotel; Eldorado Casino; and Jokers Wild Casino.

Downtown Las Vegas (more than 10%) includes California Hotel and Casino; Fremont Hotel and Casino; and Main Street Station Casino Brewery and Hotel. It focuses their marketing on gaming enthusiasts from Hawaii, tour and travel agents in Hawaii.

Geographic Reach

Headquartered in Las Vegas, the company has gaming operations in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, and Mississippi.

Sales and Marketing

The company's advertising and marketing promotion costs were about $32 million in fiscal 2016. Boyd works to build loyalty with locals since the casinos that are not on the Las Vegas Strip are not as popular with tourists and convention attendees.

Financial Performance

Boyd's revenue was about $2.1 billion in fiscal 2016. That was a decrease compared to the prior fiscal period when the company reported $2.2 billion in revenue.

In fiscal 2016 Boyd's net income was $418 million after the company claimed a net income of $47 million in fiscal 2015. The improvement was due to decreased operating expenses. The company's cash from operating activities was $195 million at the end of fiscal 2016.

Strategy

Many of Boyd's properties are dated and in need of upgrades or total renovation. It will take large capital investments to bring the company's facilities up to modern standards. For example, Boyd is spending $45 million on expansion of its Delta Downs Racetrack Casino Hotel in Vinton, Louisiana. The company is also spending more than $100 million on upgrades and renovations to its Las Vegas and regional properties with plans to add 20 more restaurants.

In 2016, Boyd sold its 50% stake in Atlantic City's Borgata Hotel Casino & Spa to MGM Resorts International for $589 million.

Mergers and Acquisitions

In December 2016 Body acquired the Las Vegas assets of Cannery Casino Resorts for about $230 million. The acquisition helped the company expand geographically across North Las Vegas.

In September 2016 the company acquired ALST Casino Holdco, LLC, the holding company of Aliante Casino Hotel and Spa, for $380 million. The acquisition provided a tremendous opportunity to participate in the long-term growth of the northern part of the Las Vegas Valley.

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Par-A-Dice Gaming Corporation

21 Blackjack Blvd
East Peoria, IL 61611-2010
Phone: 1 (309) 698-7711
Fax: 1 (309) 694-5984

Stats

  • Employer Type: Public
  • Sales and Marketing Assistant: Amanda Brook
  • Senior Buyer: Becky Hoffman
  • Facilities Director: David Lindahl
  • Employees: 900

Major Office Locations

  • East Peoria, IL