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Boyd Gaming Moves to 1Q Profit on Lower Expenses | Gaming News

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Boyd Gaming Moves to 1Q Profit on Lower Expenses
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LAS VEGAS -- Casino operator Boyd Gaming Corp. says it returned to a first-quarter profit as cost cuts helped offset a drop in gambling revenue and forecast growth in the second half of the year.

Consumers have tightened their discretionary spending during the economic downturn. While conditions appear to be improving, spending on nonessentials and leisure activities is still only slowly increasing.

The Las Vegas company on Tuesday reported net income of $8.4 million, or 10 cents per share, for the period ended March 31. That compares with a loss of $13.8 million, or 16 cents per share, a year earlier.

Revenue fell 5 percent to $415.1 million from $434.8 million as a decline in gaming revenue offset an uptick in food and beverage and room revenue.

 (Copyright 2010 by The Associated Press. All Rights Reserved.)

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