LAS VEGAS, March 12, 2014 /PRNewswire/ -- Boyd Gaming Corporation (NYSE: BYD) today announced the following results from Borgata's online gaming operations in the month of February 2014.
Combined, Borgata and party.poker generated $4.1 million in online gaming revenue, for a market-leading 40% share of New Jersey's online gaming business. Borgata accounted for $3.1 million in online revenue in February, posting a 14% gain from January despite a shorter calendar. Borgata's standalone market share was 30%.
Keith Smith, President and Chief Executive Officer of Boyd Gaming, said:
"Boyd Gaming continues to strengthen our position as a leader in online gaming. We were particularly encouraged by the performance of Borgata's online casino site, which achieved month-over-month revenue growth of 36%, and more than 50% on a per-day basis. We have strived to create a first-in-class online gaming experience worthy of the Borgata brand, and it is clearly resonating with players across the state of New Jersey."
"Looking ahead, we continue to see significant opportunities for future growth in New Jersey as we refine and enhance our online product. Earlier this month, we successfully hosted one of New Jersey's largest online poker tournaments to date, with a $145,000 prize purse. And in mid-February, Borgata launched an Android-compatible app that can access 3G/4G networks, making it more convenient than ever to play at Borgata. We have migrated our entire suite of IGT game titles to this app, ensuring that our mobile gaming experience meets the high expectations that players have for the Borgata brand. With an iOS version of this product now being finalized, we see significant further upside from mobile gaming in the months ahead."
"We are pleased with the progress we have made so far in New Jersey, and will carefully consider future online opportunities elsewhere to determine which ones make strategic sense for our Company."
About Boyd Gaming Headquartered in Las Vegas, Boyd Gaming Corporation (NYSE: BYD) is a leading diversified owner and operator of 22 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi and New Jersey. Boyd Gaming press releases are available at www.prnewswire.com. Additional news and information on Boyd Gaming can be found at www.boydgaming.com.
Forward-looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements contain words such as "may," "will," "might," "expect," "believe," "anticipate," "could," "would," "estimate," "continue," "pursue," or the negative thereof or comparable terminology, and may include (without limitation) information regarding the Company's expectations, goals or intentions regarding future performance. In addition, forward-looking statements in this press release include statements regarding: expectations regarding the quality of Borgata's online product, continued strengthening of the Company's and Borgata's position as a leader in online gaming; creating a first in-class gaming experience and its acceptance with players in New Jersey; significant growth opportunities in New Jersey; refinements to the online gaming product; anticipated availability of an iOS version of the online product; the potential for future strategic opportunities; the continuance of Borgata's position in online gaming; and the potential for continued growth in the future. Forward-looking statements involve certain risks and uncertainties, and actual results may differ materially from those discussed in any such statement. These risks and uncertainties include, but are not limited to: the state of the economy and its effect on consumer spending; whether online gaming will become legalized in various states, the Company's and Borgata's ability to operate online gaming profitably, or otherwise; consumer reaction to fluctuations in the stock market and economic factors; the fact that the Company's expansion, development and renovation projects (including enhancements to improve property performance) are subject to many risks inherent in expansion, development or construction of a new or existing project; the effects of events adversely impacting the economy or the regions from which the Company draws a significant percentage of its customers; competition; litigation; financial community and rating agency perceptions of the Company and its subsidiaries; changes in laws and regulations, including increased taxes; the availability and price of energy, weather, regulation, economic, credit and capital market conditions; and the effects of war, terrorist or similar activity. Additional factors that could cause actual results to differ are discussed under the heading "Risk Factors" and in other sections of the Company's Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, and in the Company's other current and periodic reports filed from time to time with the SEC. All forward-looking statements in this press release are made as of the date hereof, based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward-looking statement.
SOURCE Boyd Gaming Corporation