Caesars, Boyd to Release Fourth-Quarter Results on Valentine's Day

Valentine's Day will mark the release of fourth quarter earnings for fellow gaming companies Caesars Entertainment  (CZR) and Boyd Gaming  (BYD) after the closing bell.

Analysts on average are expecting Caesars to narrow its loss from last year to 37 cents per share from 54 cents a year ago, while sales are expected to more than double to $2.39 billion from $1.12 billion. 

Boyd is also expected to surpass last year's totals, with analysts forecasting earnings of 24 cents per share vs. 16 cents last year on revenue of $561.1 million vs. $542.7 million a year ago. 

Caesars has been under a cloud of bankruptcy for months, but the company reached a plan in December with lenders to push its operating unit out of its $18 billion debt. The company said that it expects to emerge from bankruptcy later this year. 

Boyd was the subject of Aegis Capital note today with the firm initiating coverage of the company with a "Buy" rating and $24 price target. 

More than 40% of Boyd's revenue comes from its Las Vegas properties and Aegis analysts believe that positive trends in that market will bode well for the company in the near future. 

Analysts at Wells Fargo believe that the company will report fourth quarter earnings before interest, taxes, depreciation and amortization of $136 million, in line with analysts' expectations for the period. 

The firm's checks also suggest that the company's Las Vegas operations had a strong quarter with gaming revenue up a projected 7% for the Las Vegas region. 

That strength will be offset by the rest of the company's regional portfolio however, as cannibalization continues to take its toll on regional gaming.

"We think the relative softness in BYD's regionals is well telegraphed. We expect to see modest same-store growth in Las Vegas Locals/Downtown with flattish controllable expenses leading to some margin improvement.," senior analyst Cameron McKnight said. 

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