Boyd Gaming Corp

BYD: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$43.96	Jxjtzjb	—

Boyd Takes Charge on Echelon

Oct 27, 2009

We are leaving our fair value estimate for Boyd Gaming BYD intact after reviewing third-quarter results. Although we are placing a slightly lower expected value for the company's suspended Echelon site on the Las Vegas Strip, this had a minimal impact on our valuation. The company took a $13.5 million charge on the project and does not anticipate resuming construction for another three to five years, longer than we had originally forecasted.

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