Boyd Gaming Shares Slip To Four Year Low For Casino Company
Boyd Gaming is one of the kings of the gaming world. The company has stability, which might help in this tough time. On Friday, stock prices for the company slipped to its lowest point in four years.
Competition is getting intense around the country in the casino gaming industry. Boyd Gaming might be on top of the industry, but that does not mean they are immune to the stress of competition.
Two of the company's casinos, have struggled of late due to competition in their area. The Borgata Hotel Casino and Spa in Atlantic City and Blue Chip riverboat casino in Michigan City, Indiana have both faced competition as of late, and in result, have struggled.
Fourth Quarter earnings projections from an analyst have dropped from $.39 to $.37. The 2008 profit prediction for the company was also dropped by the analyst, from $1.99 a share, to $1.97.
New casinos in Pennsylvania have hurt the Atlantic City operation, and Blue Chip has been hurt by the opening of the Four Winds Casino in New Buffalo, Michigan.
