Boyd Gaming posts Q1 online profit
Sites operated by the Borgata joint venture generated $1.1m in EBITDA during the first quarter
Boyd Gamingâs real-money internet gaming platforms in New Jersey posted a profit for the third consecutive quarter in Q1 2015, according to financial figures released by the operator yesterday. [private]
The US casino group, which has a 50% stake in the Borgata, revealed its online business in the Garden State generated more than $4m in revenues leading to adjusted EBITDA of $1.1m for the three months ended 31 March 2015.
Borgataâs Q1 2015 profit represents a 134% swing from the $3.2m loss it made during the same period last year, which the operator said was mainly down to one-off setup and marketing expenses.
Boyd Gaming CEO Keith Smith said the operatorâs online platforms âcontinued to perform wellâ with its egaming business on target to deliver a $3m-$5m profit in 2015.
The Borgata and platform partner bwin.party have led the charge in New Jersey since the market first opened in November 2013, and in March attracted revenues of $4.2m from its BorgataPoker, BorgataCasino, partypoker and palacasino.com sites.
The Borgata scooped the prestigious Operator of the Year gong at the inaugural eGaming Review North America Awards in San Francisco last month.