Company reported a 45 percent drop in quarterly profit feb 27, citing a slowing U.S. economy, and said Q1 results would miss estimates
Economists began predicting the US would enter a recession. Boyd's focus on middle-income clientele puts it at greater risk than casinos like Wynn.
The company reported adjusted profit of 43 cents per share, which was above analyst expectations. Of note were the strong results from the Midwest/Souther properties and in-line results at Borgata.
The company announced that Keith E. Smith will succeed William S. Boyd as its CEO, effective January 1, 2008.
BYD announced that its Echelon project would cost $4.8bn, a 20% increase from the originall planned cost of $4B.