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Boyd Gaming Reports Second-Quarter 2020 Results

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Boyd Gaming Corporation reported financial results for the second quarter ended June 30, 2020.

Keith Smith, President and Chief Executive Officer of Boyd Gaming, said: “Across the country, our team members did a tremendous job getting our properties back open quickly and safely over the final six weeks of the quarter. And since reopening began, we are off to an excellent start. On a comparable basis at our reopened properties, we achieved Companywide EBITDAR growth and significant margin improvement while complying with state-regulated reductions in gaming capacity. During the reopening period, our Midwest & South properties posted double-digit EBITDAR gains, while our Las Vegas Locals properties also improved EBITDAR performance versus prior year. While overall visitation and revenues are down, spend per visit is robust, and we have successfully streamlined operating and marketing expenses to drive margin gains of more than 1,000 basis points in both the Midwest & South and Las Vegas Locals segments. These positive operating trends are continuing into July, giving us confidence that we can sustain increased efficiencies in our operating model.”

Smith continued: “We are also making great progress positioning our Company for the digital future of our industry. With the recent launch of our Stardust Social Casino mobile app, we established our first interactive gaming presence under the Stardust brand. We also continued to expand our strategic partnership with FanDuel Group as we introduced an online casino product in the state of Pennsylvania. With our industry-leading strategic partner and the iconic Stardust brand, Boyd Gaming is in an excellent position to capitalize on the compelling growth opportunity presented by interactive gaming and mobile sports betting.”

Due to impacts of the COVID-19 pandemic, Boyd Gaming reported second-quarter 2020 revenues of $209.9 million, compared to $846.1 million in the second quarter of 2019. The Company recorded a net loss of $108.5 million, or $0.96 per share, for the second quarter of 2020, compared to net income of $48.5 million, or $0.43 per share, for the year-ago period.

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Total Adjusted EBITDAR(1) was $16.1 million in the second quarter of 2020, compared to $232.6 million in the second quarter of 2019. Adjusted Earnings(1) for the second quarter of 2020 reflect a loss of $110.5 million, or $0.98 per share, compared to Adjusted Earnings of $52.5 million, or $0.46 per share, for the same period in 2019.

Operations Review
During the period from March 18 through May 19, 2020, all 29 of the Company’s properties nationwide were closed under state and local orders aimed at mitigating the spread of COVID-19. The Company resumed operations at 26 properties on the following dates.(2)

May 20: Delta Downs, Evangeline Downs, Treasure Chest
May 21: IP Casino Resort Spa, Sam’s Town Tunica
May 23: Kansas Star
May 27: Sam’s Town Shreveport, Amelia Belle
June 1: Ameristar St. Charles, Ameristar Kansas City, Diamond Jo Dubuque, Diamond Jo Worth
June 4: The Orleans, Gold Coast, Suncoast, Aliante, Cannery, Sam’s Town, Jokers Wild, California, Fremont
June 15: Blue Chip, Belterra Casino Resort
June 19: Belterra Park
June 26: Valley Forge
July 1: Par-A-Dice

The following comparisons reflect operating trends for the period from the reopening date of each property through June 30, 2020, as compared to the corresponding period of the prior year. All properties operated under significantly reduced capacity in compliance with local and state restrictions.

Combined revenues for the 16 reopened Midwest & South segment properties were down 18% from the comparable prior-year period, while combined Adjusted EBITDAR rose 16% and operating margins increased more than 1,200 basis points. The seven Las Vegas Locals properties that reopened on June 4, 2020, reported a combined revenue decrease of 28% from the prior year, while combined Adjusted EBITDAR grew 1% and operating margins increased nearly 1,300 basis points. The Company’s two reopened Downtown Las Vegas segment properties reported a combined revenue decline of 60% from the prior year while combined Adjusted EBITDAR for the reopening period was breakeven, reflecting the impact of reduced visitation to Las Vegas as well as lower business volumes from the Company’s Hawaiian customer base.

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Segment results for the second quarter and year-to-date periods ended June 30, 2020, are presented in the financial tables accompanying this release.

(2) As of July 28, 2020, Eastside Cannery, Eldorado and Main Street Station remain closed to the public.

Balance Sheet Update

As of June 30, 2020, Boyd Gaming had cash on hand of $1.31 billion, and total debt of $4.98 billion. Cash and debt balances reflect the Company’s issuance of $600 million of 8.625% senior notes due 2025 on May 21, 2020, as well as $670 million drawn from the Company’s revolving credit facilities on March 16, 2020.

Conference Call Information

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Boyd Gaming will host a conference call to discuss second-quarter 2020 results today, July 28, at 5:00 p.m. Eastern. The conference call number is (888) 317-6003, passcode 6244842. Please call up to 15 minutes in advance to ensure you are connected prior to the start of the call.

The conference call will also be available live on the Internet at www.boydgaming.com, or: https://www.webcaster4.com/Webcast/Page/964/35870.

Following the call’s completion, a replay will be available by dialing (877) 344-7529 today, July 28, beginning at 7:00 p.m. Eastern and continuing through Tuesday, August 4 at 11:59 p.m. Eastern. The conference number for the replay will be 10146576. The replay will also be available on the Internet at www.boydgaming.com.

About Boyd Gaming:
Founded in 1975, Boyd Gaming Corporation (NYSE: BYD) is a leading geographically diversified operator of 29 gaming entertainment properties in 10 states. The Company is also a strategic partner and 5% equity owner of FanDuel Group, the nation’s leading sports-betting and iGaming operator. With one of the most experienced leadership teams in the casino industry, Boyd Gaming prides itself on offering its guests an outstanding entertainment experience, delivered with unwavering attention to customer service. For additional Company information and press releases, visit www.boydgaming.com.

SOURCE Boyd Gaming Corporation

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Bragg Gaming Group

Bragg Gaming Enters into Online Casino Content Agreement with Canadian Operator Loto-Québec

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Bragg Gaming Group has announced that it has entered into an online casino content agreement with Canadian operator Loto-Québec, the only 100% legal and local casino site in the province of Québec. The agreement marks the expansion of Bragg into its second Canadian province, following Bragg’s prior entry into Ontario in March 2022.

Pursuant to the agreement, Loto-Québec will benefit from access to exclusive content, including titles from Bragg’s in-house proprietary content development studios, a roster which includes Atomic Slot Lab and Indigo Magic, through Bragg Gaming’s Remote Games Server (RGS) technology, delivered via the Bragg HUB platform.

In addition, Loto-Québec players will also be able to access on lotoquebec.com titles from multiple content partners under the Powered By Bragg program, including King Show Games, Bluberi, Incredible Technologies and Sega Sammy Creation.

All content delivered on the Bragg HUB comes with the company’s Fuze promotional tools as standard which offer player engagement features on games such as free rounds, jackpots, tournaments, and quests.

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The agreement with Loto-Québec’s online casino supports Bragg Gaming’s strategic goals by accelerating the growth of utilization of Bragg’s exclusive and proprietary content, and the diversification of revenue through expansion into North American markets.

Garrick Morris, Senior Vice President, Commercial, US and Canada at Bragg Gaming Group said: “It’s fantastic to see Bragg’s content expand into our second Canadian province. Loto-Québec is a strategic partner, and we are excited to see our proprietary games as well as exclusive content from our partners live and available to Loto-Québec players. We look forward to developing our relationship as a key supplier to Loto-Québec as we continue the roll-out with regular new game releases planned.

“We’ve enjoyed strong growth in North America over the past 12 months and I am pleased to further support this momentum with this successful launch in Québec. I would like to thank the Loto-Québec and Bragg teams for making this happen.”

François Hardy, Senior Director of Product and Innovation at Loto-Québec, said: “At Loto-Québec, we are always looking for new and exciting ways to entertain our players. Bragg perfectly aligns with this vision, enabling us to provide a refreshing and dynamic experience to our players.”

The post Bragg Gaming Enters into Online Casino Content Agreement with Canadian Operator Loto-Québec appeared first on Gaming and Gambling Industry in the Americas.

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Canada

ROGA Launches National College Education Campaign

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The Responsible Online Gaming Association (ROGA) has launched the “Know Your Play” campaign in partnership with EPIC Global Solutions, Kindbridge Behavioral Health, and the Responsible Gambling Council (RGC). This is a major initiative designed to provide college-aged students with detailed content focused on responsible gaming, mental health and well-being, and financial literacy.

“College students are learning to navigate newfound financial independence and equipping this age group with resources to make informed decisions that can build good financial habits will serve them throughout their lives, whether they engage in gaming or not. While previous programs have focused on student-athletes, our campaign intends to educate the broader student population about responsible gaming concepts that can help this age group set realistic expectations and see gaming as a form of entertainment, not as a way of making money,” ROGA Executive Director Dr. Jennifer Shatley said.

The campaign utilizes digital learning tools, resources, and videos available to all college-aged students at knowyourplay.org, even if they are not enrolled in a university. These resources will educate students on key responsible gaming concepts, including randomness, impulsiveness, and limit setting, while addressing myths like the illusion of control in sports betting. It will also focus on the role stress and mental health play in overall student wellbeing and provide practical tips for management. Additionally, extended resources will be piloted with select universities.

“EPIC has vast expertise and experience in creating programs that resonate with college-aged audiences and are delighted to partner with ROGA on a campaign that will provide critical education to college students across the country. By combining expert knowledge with personal stories, our program aims to foster a well-rounded understanding of financial literacy, decision-making, and risk-taking,” Teresa Fiore, SVP of Partnerships at EPIC Global Solutions, said.

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The campaign will begin rolling out at college campuses over the next several weeks with in-person learning sessions and workshops in tandem with digital delivery tools for greater accessibility and reach, ensuring that the program effectively engages students across diverse campuses and demographics.

“College life presents unique pressures, from financial independence to academic performance, all of which can impact mental health. By fostering decision-making skills that bridge these areas, we’re helping students build resilience, manage stress, and develop healthy habits that will serve them well beyond their college years,” Kindbridge Group CEO Daniel Umfleet, said.

“College students face an increased risk of harm from gambling, making prevention education essential in protecting this important audience. RGC has a long history of creating prevention programs for young adults, and we are proud to partner with ROGA on this crucial initiative. This campaign will equip students with the knowledge and skills needed to make informed decisions should they choose to gamble. By providing valuable information, digital tools, and resources, we are empowering young adults to approach gambling with a lower-risk mindset and reduce potential harm,” RGC CEO Sarah McCarthy said.

The post ROGA Launches National College Education Campaign appeared first on Gaming and Gambling Industry in the Americas.

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Canada

Siyata Mobile Announces New Order from Leading Canadian Gaming and Entertainment Company

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Siyata Mobile Inc, a global vendor of Push-to-Talk over Cellular (PoC) devices and cellular signal booster systems, announced a new order for SD7 handsets and related accessories for a new customer, a leading gaming and entertainment company located in Canada.

This order marks one of Siyata’s first entries into the gaming and casino industry, a sector with significant growth potential for the Company. The customer operates dozens of gaming, entertainment, and hospitality venues across Canada and will deploy the SD7 handsets for Push-to-Talk (PTT) communications among its security and maintenance teams.

“This new order is an exciting milestone for Siyata as we expand further into the gaming and casino market. There is a growing industry trend toward modern, cellular-based communication solutions. Casinos require reliable, cost-effective, and easy-to-use communication tools with exceptional audio clarity, and our SD7 handsets and accessories are an ideal fit for those demands. This casino is replacing traditional Land Mobile Radio (LMR) two-way radios with advanced PoC technology for its security and maintenance personnel. The SD7’s robust capabilities, including instant push-to-talk functionality and superior coverage, make it an attractive choice for businesses prioritizing security and operational efficiency,” Marc Seelenfreund, CEO of Siyata Mobile, said.

The post Siyata Mobile Announces New Order from Leading Canadian Gaming and Entertainment Company appeared first on Gaming and Gambling Industry in the Americas.

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