Boyd Handily Beats Street Odds

Last month, Boyd said fourth-quarter earnings were higher than originally reported because of a tax refund the Borgata received. Restated fourth-quarter net income was $46.9 million, or 53 cents, vs. an originally reported $40 million, or 45 cents a share. The original results were already well ahead of Wall Street estimates.

In addition to its Borgata stake and four Coast casinos in Las Vegas, Boyd owns 14 other properties located in Illinois, Indiana, Louisiana, Mississippi and Nevada.

The first quarter was a good one for other casino operators. Last week, MGM Mirage reported better-than-expected first-quarter results, and Harrah's Entertainment (HET Quote) met Wall Street expectations after guiding sharply higher earlier in the month.