During our call today, we will make reference to non-GAAP financial measures. For a complete reconciliation of historical non-GAAP to GAAP financial measures, please refer to our earnings press release and our Form 8-K furnished to the SEC today, and both of which are available in the Investors section of our website at boydgaming.com.I'll provide reconciliation of forward-looking non-GAAP financial measures due to our new ability to object [ph] special charges and certain expenses. Finally, we are broadcasting this call on our website at boydgaming.com. I'd like to turn the call over to Keith Smith, our President and CEO. Keith? Keith Smith Thanks, Josh. Good morning, everyone. Thank you for joining us for our third quarter earnings call. At our last 2 calls, we discussed the EBITDA growth we were seeing in our wholly-owned business. I'm pleased to report a positive momentum we experienced in the first 2 quarters of this year continued during the third quarter. The third quarter represented the third consecutive quarter we posted EBITDA growth in our wholly-owned operations. For the quarter, EBITDA grew more than 17% and with the second consecutive quarters of all 3 regions for the year-over-year EBITDA gains. But the more important, the 2 consecutive quarters of EBITDA growth was the performance of our Las Vegas Locals region. This region led the company with an 18% EBITDA gain for the quarter and the second straight quarter we have improved EBITDA in this region. Locals business is moving the right direction. From an economic standpoint, the recovery of the Las Vegas [indiscernible] industry is continuing. We're looking 18 straight months of increased visitations, 18 straight months of increased room rates, increase in convention business and sales tax numbers. In the reported numbers, it is clear we are heading in the right direction. Our Midwest and South region continues the strong performance for 4 straight quarters of EBITDA expansion. This is clear proof that the economic recovery that has -- has taken a firm hold in the region. Previous quarters, strength in the region was widespread, particularly in our properties in southern Louisiana.
And the Downtown region continued to show revenue and EBITDA growth as well with our focus on the Hawaiian market revenue, strong increases in play and visitation.In Atlantic City, the BOrgata has been the most challenging segment this year but there are reasons to be optimistic. The purchase of Borgata gained revenue market share of nearly 20% for the third quarter, an all-time record. Second, without the effects of the Hurricane Irene, we believe Borgata would have reported year-over-year growth in both revenue and EBITDA during the quarter. Overall, our third quarter results clearly show our strategy of providing an exceptional customer experience in a tight rein and costs, this is paying off on the bottom line, positioning the company for further growth as the economy improves. During more recent developments, there's a significant event for the company that occurred on October 4, given our acquisition of the IP Biloxi, which is a leading property in one of the country's largest gaming markets, a valuable addition to our nationwide portfolio. We believe we can generate significant new visitation by integrating the IP to our B Connected player loyalty program and cross-marketing the IP with our other properties. As of September 30, IP generated about $36 million in LTM EBITDA. This is below the levels we discussed in May when we announced the transaction, and this is mainly due to the last Labor Day weekend and tropical storm week and low gaming volumes during the quarter in both the IP and Locals market [ph] in general. We remain confident of our prospects with this property and its ability to not only contribute to our [indiscernible] but also to provide a meaningful return on our investment. Read the rest of this transcript for free on seekingalpha.com