LAS VEGAS (AP) -- Casino operator Boyd Gaming Corp. returned to a profit in its first quarter because of growth at properties outside of Nevada. The Las Vegas company's results topped Wall Street's expectations and its shares climbed in premarket trading.
Boyd said it earned $5.9 million, or 7 cents per share, from January through March. That compares with a loss of $3.5 million, or 4 cents per share, a year ago.
Removing preopening expenses and other items, earnings were 10 cents per share, edging past the profit of 9 cents per share that analysts surveyed by Fact Set expected.
Revenue climbed 12 percent to $633.1 million from $564.9 million as customers spent more on gambling, food and beverages and hotel rooms.
Wall Street forecast revenue of $625.3 million.
Revenue for the Midwest and South region rose 33 percent to $243.7 million, helped by $49 million from the October acquisition of the IP Casino Resort Spa in Biloxi, Miss.
Revenue for the Borgata Hotel Casino and Spa in Atlantic City, N.J., rose 4 percent to $176.2 million.
Downtown Las Vegas properties' revenue grew 2.4 percent, while revenue for properties intended to draw local Las Vegas residents were almost unchanged at $154.8 million.
Boyd's stock added 44 cents, or 5.4 percent, to $8.55 before the market open on Tuesday.
