While analysts polled by Thomas Reuters expected the company to break even on $386 million of revenue, Boyd posted a loss of $1 million, or $0.01 a share compared to the previous year loss of $220.8 million or $2.51 a share.

Excluding write downs, earnings fell to less than one cent with revenue dropping 8.9% to $384.9 million.

The companies Las Vegas operations, primarily catering to regulators and set away from the bright lights of the strip, fell 12%, in the Midwest and South regions revenue dropped 7%, contributed to weak earnings at their southern Louisiana properties. Boyd also saw 4% revenue drop in Atlantic City.

President and Chief Executive Keith Smith said, “The stabilizing trends we’ve noted previously continued during the fourth quarter.” He added that as the economic recovery accelerates; consumer spending will increase, providing the company the opportunity to capitalize.

With stock prices holding steady within the $7 to $8 range and concerns growing over Borgata casino’s co-owner MGM Mirage’s stake in the New Jersey property, investors hope that quarter four is as encouraging as the third.

Analysts estimates have ranged from a low of -$0.07 to a high of $0.07 compared to a consensus estimate of $0.014.

In quarter 3 2009, Boyd was able to produce both increased EBITDA and operating margins in three of its four regions.

The softness felt in the Las Vegas locals market was offset by improved results in the Midwest and Southern regions.

Quarter 3 net revenues were reported at $398.2 million compared to $426.5 million in the same quarter the previous year.

Shares of BYD reached a high for the month on February 2 at $8.41 and a low of $7.42 on February 8.

The visitor’s bureau is asking the court to order Blue Chip Casino to pay $300,000 owed from 2007, 2008 and 2009 under the innkeeper’s tax law.

Mike Bergerson, an attorney for the bureau says that state law requires hotels to pay a 5% tax on each room and that money is then forwarded to agencies involved in promoting tourism.

However Boyd Gaming has requested a refund for a percentage of rooms given to gamblers “on the house”.

Boyd has based the refund and a request to have the tax excluded from complimentary rooms in the future on a decision made by the Indiana Court of Appeals in 2007 that ruled the Horseshoe casino did not have to pay sales tax on items given away.

“We think we have a legal precedent on our side in this case,” said David Strow, a spokesman for Boyd Gaming.

However Bergerson is arguing that the difference is in the language governing both taxes, sales tax is assessed on merchants who sell something whereas the innkeeper’s tax is for rooms rented or furnished, and a room, although free, is furnished and subject to the tax.

Smith has been elected to replace T.J. Matthews, former International Game Technology Chairman.

Smith’s previous position as vice chairman will be filled by Bally Technologies President and Chief Executive Richard Haddrill.

AGA President and Chief Executive Frank Fahrenkopf said in today’s statement, “The coming year promises to bring both challenges and opportunities, and I am confident that Keith and Dick will steer us in the right direction. Together, they boast more than 35 years of gaming industry experience. They will maintain the board’s important balance between the operating and manufacturing sides of our industry and work tirelessly to protect the interests of our organization’s diverse membership.”

The AGA represents the commercial casino entertainment industry by addressing federal legislative and regulatory issues affecting its members and their employees and customers, such as federal taxation, regulatory issues, and travel and tourism matters.

Barclays published a research note today mentioning that the regional gaming markets growth was lower than previously expected.

Analyst reported that Boyd’s Louisiana properties; Treasure Chest and Delta Downs, as well as Atlantic City’s Borgata have been tracking lower than estimated fourth quarter 2009 revenues.

Analyst have suggested that Boyd’s growth rate will remain weak during 2010.

Barclays Capital reduced its EPS estimates for 2009 from $0.39 to $0.34 and 2010 from $0.56 to $0.52 and reducing its target price from $8 to $7.

Although the gaming company saw a 5.22% gain in stock prices last month.

Shares of Boyd closed the market yesterday at $8.66 up $0.29 from January 1st opening price of $8.37.

In addition to cash prizes, each property will give away a trip for two to Las Vegas, complete with airfare; a four-night-stay at Sam’s Town Las Vegas; admission to the Speedway Children’s Charity Driver’s Auction; and tickets to qualifying day, the Nationwide Series Sam’s Town 300 and the Shelby American Sprint Cup race, scheduled for February 26-28.

And one B Connected Emerald tier member will win a similar package for two along with a racing jacket autographed by the Coca-Cola racing family and the chance to wave the green flag from the starter’s pole at one of the Friday qualifying races.

“Since 1998, Boyd Gaming and Sam’s Town have been proud title sponsors of the Sam’s Town 300,” said Paul Chakmak, Executive Vice President and Chief Operating Officer of Boyd Gaming. “With ‘Race Your Way to Vegas,’ we’re bringing that Las Vegas race weekend excitement to the Midwest and South, and giving players yet another unique reason to join B Connected.”

President and CEO Keith Smith stated that the deal was not required by its lenders and was made with full consideration of announced plans to acquire Station casino for an increased price of $2.45 billion.

Smith also added that the offer for Station’s assets was not contingent on the new bank agreement and the company had the available cash to proceed with the acquisition prior to making the bank changes.

The agreement will provide Boyd with an additional $1 billion in cash reducing the $2 billion available through current credit facilities.
Debt ratios will be worked down by 5.5 times cash flow by March 31, 2012, its current level is 7.25 times cash flow.

Union Gaming principal gaming analyst Bill Lerner explained that cash flow ratio is a gauge of a company’s liquidity or its ability to convert assets into cash quickly. The lower the company’s leverage the easier it is for the company to raise cash from lenders.

Shares of the gaming company have sold off dramatically in the past few weeks however in the year to date period they are still up 70%.

The struggling gambling market continues to pressure Boyd from Las Vegas to Atlantic City.

Last week Boyd raised its offer to acquire Station casinos out of bankruptcy from $950 million to $2.45 billion.

Although Stations assets would give Boyd a greater share of the Vegas market analyst Chris Snow from CreditSights says “the deal could pose a financial risk” with an already stalled project on the strip and the local market deteriorating.

In Atlantic City, where Boyd co-owns the Borgata Hotel Casino & Spa, consumer spending has decreased due to the economic downturn and new competition from surrounding areas.

New York is looking to increase its gaming offerings and has potential bidders on the line for a license at the Aqueduct racetrack.

Maryland has recently legalized gaming, Delaware is also expanding gaming while Pennsylvania has a bill before Legislatures to allow a table game expansion and Massachusetts has been rumored to be considering the idea of gaming.

Further details were not provided, however in the filing with the Securities and Exchange Commission the gaming company said it would like to finalize the deal “as quickly as possible” and that they would use available cash from a revolving credit agreement to purchase the Las Vegas assets.

Station Casinos has not yet accepted the offer, but did reject an earlier offer from Boyd for $950 million.

The company which filed for bankruptcy protection in July said it had $5.7 billion in debt, Boyd’s filing does not reveal which debt will be assumed or what it will pay to Station’s creditors.

Boyd has attempted to insert itself into the bankruptcy hearings claiming they had assumed some of Stations debt, however Station fought to have them removed from the proceedings in November, which was granted by the Judge.

Boyd has also said they would work with the Nevada Gaming Commission and the Nevada Gaming Control Board on any needed approvals.

If Station accepts the deal, the offer must be confirmed by the U.S. Bankruptcy Court in Nevada.

Boughner will lead the gaming company’s new business development efforts through this newly created position by expanding existing and new markets, building corporate relationships and alliances and pursuing new business opportunities in a variety of areas including Internet gaming.

“Bob is a talented executive who has been a trusted member of our senior management team for many years,” Keith Smith, Boyd Gaming’s President and C.E.O said. “With the addition of these responsibilities, the Company will be in an ideal position to benefit from his expertise in operations and business development as we successfully manage our business through challenging times and pursue attractive growth opportunities.”

Boughner joined the gambling company in 1976, serving in a variety of senior executive positions including general manager of several properties, Senior Vice President of Administration, C.E.O and President of Echelon Resorts. He has also served on the companies Board of Directors since 1996.

In addition to his new responsibilities, he will continue to oversee the company’s development efforts on the Las Vegas strip and retain his current duties at the Borgata as well as his seat on the company’s board.

His appointment is subject to New Jersey regulatory approval.

149 players from across the country competed in two days of play consisting of two 15 minute sessions a day for a total prize pool of $250,000.

Thousands of players participated in qualifying events this summer at 13 participating casinos, in the hopes of winning the grand prize and a trip to Las Vegas.

Billie DeWailly a Sam’s Town Tunica player took home the fifth place cash prize of $10,000 while the fourth place winner of $15,000 was Iralene Richardson a Sam’s Town Shreveport player.

The third place cash prize of $25,000 was awarded to Alice James from The Orleans and Second place went to Paul Niemela a Suncoast player winning $50,000.

The first place $100,000 winner was a Las Vegas regular at the Main Street Station casino, Janet Rogalski.

Although the proposal is estimated to increase state revenue an additional $11 million, representatives of Boyd Gaming (BYD: 9.03 -1.31%) fear the move will impact gaming at the Blue Chip Casino in Michigan City.

A spokesman for Boyd Gaming responded to the proposal by saying, “Any change to rules that would dramatically alter the competitive landscape would be a cause for concern.”

The casino has already faced a loss of 30% of business to the Four Winds Casino in New Buffalo, Michigan and the proposed move could cost the gaming company an additional 3% to 5% of business.

The loss would not only affect the company’s gambling revenues but would hinder the government of Michigan City, who receives $11 million a year from the Blue Chip as well as $1.5 million towards its development fund.

Representatives understand that the state must consider changes to stay competitive with other states, however they urged lawmakers to keep in mind that they have invested $300 million in a new hotel and casino in the past four years and changing the rules to the disadvantage of Blue Chip, Michigan City and its employees would not be fair.

The tournaments final rounds will be held at the Orleans Casino and Hotel in Las Vegas, where 152 contestants will represent the 16 Boyd properties nationwide.

More than 1,200 slot players participated in the qualifying tournaments at the Blue Chip Casino, Hotel & Spa in Michigan City. Winning hopefuls began qualifying events in July, with a $100 buy in.

The Tournaments first place winner will take home $100,000, second place $50,000 and third $25,000.00.

The suit claims that in 2006 Hall registered a domain name that infringes on Boyd’s Blue Chip Casino trademarks. The Blue Chip Casino is a famous casino hotel and spa in Michigan City Indiana, owned and operated by the gambling company and is not affiliated with the site.

Attorneys for the casino operator, Brownstein, Hyatt, Farber, Schreck LLP, filed the suit accusing Hall of Internet cybersquatting, trademark infringement, unfair competition and deceptive trade practices.

The suit charges that at some point the infringing domain name had been linked to the Full Tilt Poker gambling site.

Hall could not be located for comment.

The lawsuit states that the “Defendant’s use of a domain name containing plaintiff’s Blue Chip marks has created a likelihood of confusion among consumers who may falsely believe that the infringing domain name and Full Tilt Poker Web site are associated with the Blue Chip Casino or that plaintiff sponsors or approves of defendant’s services or commercial activities.”

Judge Gregg Zive rejected the request made by Boyd Gaming (BYD: 9.03 -1.31%) to participate in Friday’s hearing to appointing an examiner to review Stations financing, on the position that the request was made to late.

The judge also questioned the rival gaming companies standing in the case, although they revealed that they have acquired approximately $2 million in senior unsecured bonds since March.

Station rejected Boyd’s offer to purchase some or all of Station’s Las Vegas assets for $950 million in February.

Independent lenders backing Boyd’s request to seek an examiner to review Station’s rejection of the sale, withdrew their request after the Judge refused to let Boyd participate in the hearing.

Attorneys representing Station told the judge that an agreement had been reached with lenders to provide biweekly status meetings, provide them with financial reporting and share information regarding future offers made by Boyd.

Boyd Gaming officials said they were still interested in acquiring Stations assets and that they looked forward to the outcome of Decembers hearing.

Earlier this month, Boyd filed a motion with the bankruptcy courts asking that potential buyers be permitted to submit reorganization plans for the financially troubled company. As well as, asking the court to appoint an examiner to independently evaluate the company’s assets.

Boyd Gaming has been accused by Station casinos of “attempting to improperly manipulate the bankruptcy process” in an attempt to dismantle a competitor’s assets.

Station had responded by asking the courts to deny the request, stating that Boyd was attempting to gain access to confidential business information to gain a competitive advantage.

Station rejected an offer from rival gaming company to purchase a large portion of Station Casino’s Las Vegas gambling operations for $950 million.

A spokesman for Boyd commented that, “One purpose of our motion was to correct this mischaracterization and to make our serious interest in acquiring these assets crystal clear. The bankruptcy court will determine how these issues are resolved and we look forward to participating in that process.”

The world famous mega-group, Rock You Queen has been called Aruze’s most ambitious and entertaining game to date.

“If the Queen game is anything like the group, they’ve got another hit,” stated Mike Laubach, Director of Slot Operations at Boyd Gaming.

The game has been installed at nine of Boyd Gaming’s casinos including, the Gold Coast Hotel and Casino, Sam’s Town Hotel and Gambling Hall, The Orleans Hotel and Casino, Sun Coast Hotel and Casino, California Hotel and Casino, Main Street Station Casino, Freemont Hotel and Casino, Joker’s Wild Casino, and the Eldorado Casino in Las Vegas.

“We are delighted to partner with Boyd Gaming for the launch of ROCK YOU QUEEN(TM),” said Kent Young, Executive Vice President and General Manager of AGA. “This exciting theme will surely thrill both the Queen fan and players alike.”

Boyd and Station are rival casino operators both seeking to develop an off –Strip market, to cater to local Vegas residents and in-state crowds.

In February, Station rejected Boyd’s offer to purchase a significant portion of Stations properties for $950 million. In July, Station filed for Chapter 11 bankruptcy for protection of approximately $6.5 billion in long term debt.

Boyd Gaming is not only a rival casino developer but is also a creditor, having acquired a stake in Station’s debt.

Boyd filed a motion with the bankruptcy courts on Sunday, asking that potential buyers be permitted to submit reorganization plans for the financially troubled company. As well as, asking the court to appoint an examiner to independently evaluate the company’s assets.

Boyd’s intent is to purchase a part or all of Station Casinos 18 properties.

Boyd and Station are rival companies both seeking to develop an off –Strip market, to cater to local Vegas residents and in-state crowds.

Boyd owns and operates 15 casino entertainment facilities located in Nevada, Mississippi, Illinois, Louisiana and Indiana. While experiencing a slight revenue increase with their riverboat casinos, it was not enough to counter act the decline being felt in Vegas.

The gaming company contributes the profit loss reflected in their third quarter financials released this week, to the Vegas slump.

Revenue dropped 7 percent to $398.2 millions, falling short of Wall Streets prediction of $411.2 million.

Following the release of the companies’ financials they have also released a statement warning investors that they would have to put a hold on plans for expansion.

Boyd anticipates not restarting construction on the $4.8 billion Echelon Resort in Las Vegas for three to five years.

Station Casinos has been staving off bankruptcy by acquiring extensions from lenders to negotiate a prepackaged settlement, but officials have been unable to work a deal with bondholders, who possess about half of the company’s $6 billion in debt.

Boyd Gaming made a billion-dollar offer to buy assets not used to secure loans, but was brusquely pushed away by Station executives, who basically told Boyd don’t call us, we’ll call you.

Now, even though all 18 casinos are separate from the bankruptcy, which only involves the parent company, Station may have a harder time resisting a Boyd move involving significant capital.

Boyd and Station are the two leading companies aiming at an off-Strip market, with the intent to draw local and in-state crowds.