Boyd Gaming Corp

BYD: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$84.99	Dnychj	—

Boyd Gaming Reports Weak Fourth-Quarter and Full-Year Results

, Peter Wahlstrom

Mar 1, 2011

Boyd Gaming Corp. BYD reported weak fourth-quarter and full-year results that were in line with our already low expectations. Revenue for the quarter was down 1.5% to $552 million, with adjusted EBITDA down 3% to $103 million. We are not making any material adjustments to our financial model based on fourth-quarter and full-year results, and we are maintaining our fair value estimate. We currently view the company as fairly valued.

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