Boyd Gaming (BYD) - Get Boyd Gaming Corporation Report reported a 2.2% increase in fourth quarter net revenue to $554.8 million, generating earnings of 38 cents a share. Analysts polled by FactSet were expecting the company to report revenue of $561.1 million and earnings of 24 cents per share.
Shares of the regional gaming company were little changed in after-hours trading at $20.66.
"The fourth quarter was the culmination of an eventful and successful year, as we further positioned our Company for long-term growth," CEO Keith Smith said in Tuesday's earnings release.
The company took a non-cash asset impairment charge of $36.9 million that was partially offset by an $11.1 million non-cash income tax benefit during the quarter. Boyd Gaming was also able to lower its fourth quarter operations liabilities thanks to the sale of its stake in the Borgata Hotel Casino in Atlantic City to MGM Resorts Int'l (MGM) - Get MGM Resorts International (MGM) Report .
The company's total adjusted EBITDA rose 5.7% year over year to $138.8 million. For fiscal 2017, the company provided EBITDA guidance between $585 million and $605 million.