Gambling in Las Vegas Is HOT Again, But Not For Every Casino

Boyd Gaming's second quarter earnings fell shy of Wall Street’s expectations and also lowered its full year profit guidance.
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Boyd Gaming's second quarter earnings fell shy of Wall Street’s expectations. The company lowered its full year profit guidance, citing competitive industry pressures. However, the results and commentary from Boyd Gaming are in stark contrast to broader industry data. That should worry investors in Boyd Gaming. In June, Las Vegas strip gambling proceeds spiked 22%, accelerating from 17.3% and 3.19% increases in May and April, respectively, according to Bloomberg data. The winning ways have not been confined to the Las Vegas strip. Gaming revenue statewide in Nevada increased 14% in June, almost two times that of May, and far-removed from April's 0.3% drop. Helping to drive the resurgence in Vegas gambling are room renovations, upgraded dining experiences, and of course an improving Nevada economy. TheStreet's Brian Sozzi reports from New York. .