A back-taxes charge in Indiana offset a healthy performance at Atlantic City’s Borgata Casino resort as Las Vegas-based Boyd Gaming Corp. posted a drop in first-quarter earnings on Thursday.
The company, which operates the Stardust, California, Fremont, Main Street Station and Sam’s Town among other properties in Southern Nevada, reported net earnings of $13.5 million, or 20 cents a share, compared with $16.4 million, or 25 cents a share, for the same period a year earlier.
Excluding the tax charge and preopening costs of the Borgata a year earlier, the company’s earnings per share were unchanged at 29 cents. Earnings were in line with analysts’ expectations.
The company reported revenue of $330 million for the quarter compared with $321.9 million for the same period in 2003.