LAS VEGAS, April 14, 2014 /PRNewswire/ -- Boyd Gaming Corporation (NYSE: BYD) today announced the following results from Borgata's online gaming operations in the month of March.
Combined, Borgata and party.poker generated $4.4 million in online gaming revenue, leading the New Jersey online gaming market with a 37% share. Borgata and party.poker have led the New Jersey market every month since online gaming began in November 2013.
Borgata's online revenue grew nearly 6% from February to $3.2 million; the property's standalone market share was 27%.
Keith Smith, President and Chief Executive Officer of Boyd Gaming, said:
"Borgata has been New Jersey's land-based gaming leader for more than a decade, and is cementing its position as the state's online gaming leader as well. We continue to see solid growth in online casino gaming, and are working to further strengthen our poker business. Later this month, Borgata will hold the $600,000 New Jersey Championship of Online Poker, the largest online poker tournament in the state to date. Borgata online players can also qualify for a spot in the $5 million WPT World Championship, scheduled to be held at Borgata April 21 to 26."
"Expanding payment processing options for our customers is one of our highest priorities, and we are making good progress in this regard. Earlier this month, Borgata added Neteller, a global online payment solution, as a new payment option for our customers. Boyd Gaming is working diligently to make our online gaming experience as convenient as possible, giving players another reason to continue selecting Borgata over the competition."
"With the successful performance of our market-leading product in New Jersey, Boyd Gaming is well-positioned for similar success elsewhere in the country, as additional states move forward with online gaming."
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: the Company's and Borgata's position in the New Jersey gaming market, including the online gaming market plans to expand paying processing options for online gaming; current growth in the online gaming market; future plans to increase the convenience of our online gaming experience; and the potential for growth in the online gaming market in the rest of the country 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; the intense competition that exists in the gaming industry; the potential incurrence of impairments to goodwill, indefinite-lived intangible assets or long-lived assets; our inability to select a new partner in the limited liability company that operates Borgata; 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.