This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Boyd Investors Bet on New Jersey Online Gambling Success

Stocks in this article: BYD INTC NUAN

NEW YORK (TheStreet) -- Boyd Gaming (BYD) rallied sharply, a 4.08% one-day spike, on Tuesday, the same day that online gaming became legal in New Jersey.

Boyd shares are still down over 27% from the Oct. 18 high of $14.35, so my enthusiasm for BYD is muted at best. The company announced earlier Tuesday its Borgata Hotel Casino and Spa has been authorized by the New Jersey Division of Gaming Enforcement to offer real-money online gaming to the general public in the state.

Boyd Gaming also announced that following an initial trial period, two Borgata-branded gaming sites were approved by the Division of Gaming Enforcement to accept wagers from the general public in the state of New Jersey. The Garden State joins Nevada and Delaware in allowing online casino games. Mississippi is reportedly examining the same kind of tolerance for online gaming in its jurisdiction.

If you have the taste for this kind of activity you might want to check out an example of what a Borgata gaming site, one dedicated especially for online poker, looks like. It appears the same site also has other games and gambling activities using this Web address.

"The launch of our first real-money online gaming product is an exciting milestone for our company," Keith Smith, president and CEO of Boyd Gaming, said in a statement. "Boyd Gaming views online gaming as a compelling opportunity to further grow and diversify our operations, and the launch of our New Jersey online product is the most significant step yet in that effort."

Will BYD profit from this new online opportunity? Investors are already betting that it will. But before you ante up too much for the shares of the stock, consider the other operations and holdings of this purveyor of casinos.

Headquartered in Las Vegas, Boyd Gaming has a market cap of $1.1 billion and claims that it " a leading diversified owner and operator of 22 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi and New Jersey."

Before I comment on one person's experience at a BYD's property in Las Vegas, let me remind you that there's already an outcry of opposition against online gambling. Former U.S. senator from Arkansas Blanche Lincoln spoke out on CNBC against online gambling on the same day it became legal in New Jersey.

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs