As the dominant name in downtown Las Vegas and one the largest operators of locals casinos across the valley, Boyd Gaming (NYSE: BYD) owns a treasure trove of Sin City real estate, but it’s unlikely to sell those properties to raise cash.
Boyd CEO Keith Smith recently said as much in an interview with Howard Stutz of the Nevada Independent. The Las Vegas-based company runs 10 gaming venues in its home market, including Aliante, California, Cannery, Fremont, Gold Coast, Jokers Wild, Main Street Station, Sam’s Town, Suncoast, and The Orleans.
With the strength of our balance sheet, the strength of our cash flows and our ability to access other forms of financing, we just don’t have a need (to sell real estate),” said Smith in an interview with the Independent following the company’s fourth-quarter earnings report.
Indeed, Boyd’s cash flow position is strong, enabling the operator to pay a dividend and buy back its own shares — a rare “twofer” in the gaming industry these days.
Boyd CEO Keith Smith recently said as much in an interview with Howard Stutz of the Nevada Independent. The Las Vegas-based company runs 10 gaming venues in its home market, including Aliante, California, Cannery, Fremont, Gold Coast, Jokers Wild, Main Street Station, Sam’s Town, Suncoast, and The Orleans.
With the strength of our balance sheet, the strength of our cash flows and our ability to access other forms of financing, we just don’t have a need (to sell real estate),” said Smith in an interview with the Independent following the company’s fourth-quarter earnings report.
Indeed, Boyd’s cash flow position is strong, enabling the operator to pay a dividend and buy back its own shares — a rare “twofer” in the gaming industry these days.