Boyd Gaming Loses $3.2 Million In Online Gambling Venture

Losses due to one-time marketing costs incurred in setting up the enterprise in New Jersey

Boyd Gaming's Atlantic City casino Borgata has posted a $3.2 million loss on its new online gambling operations, largely because of one-time marketing costs related to launching the program, which went live last November.

Borgata is the market leader in the nascent intrastate internet gambling market in New Jersey and is expected to continue to grow.

In posting its Q1-2014 report, Boyd reported that its overall losses have narrowed, thanks largely to improvements in Nevada investments.

The primarily land casino operator reported Wednesday that it lost $6.2 million, or 6 cents per share, for the period ending March 31. A year earlier it lost $7.3 million, or 7 cents per share.

Net revenue of $708.3 million fell nearly 4 percent from $735.6 million a year ago due to unusually severe weather condition which impacted its operations in the Midwest, the South and at Borgata in Atlantic City.

Online Casino News Courtesy of Infopowa

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The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophography.
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