Boyd Gaming Corporation (NYSE:BYD) Q4 2015 Earnings Conference Call - Final Transcript
Feb 16, 2016 • 05:00 pm ET
[Operator Instructions] And our first question comes from Joe Greff from JPMorgan. Please go ahead with your question.
Good afternoon, everybody. And Josh, thank you for your comments, you took some of my questions away. Just thinking about your outlook for the Las Vegas Locals market this year, how do you think about the growth for after four quarters of 2016? Do you see higher growth in the first half versus the second half, just given how the comparison evolve over the year? Can you help us understand that a little bit in terms of what's baked into your guidance?
Keith E. Smith
Yes. So Joe, this is Keith. I think that that's probably right. We'd expect to see a little more growth in the first half of the year. The summer time is notoriously slow here in Las Vegas, especially in the Locals business. And once again, we did had a great fourth quarter as things build throughout the year. So we expect kind of the momentum we saw in the fourth quarter to carry into the first quarter and second quarter. So it's probably more heavily weighted in the first half of the year.
Okay. And then with respect to your non-gaming enhancement-related capital expenditures baked into your guidance, do you have any renovation disruption? If you could help us quantify that, if there is any.
Yes, Joe. This is Josh. We really haven't built in any expectation of disruption. We have seen -- given our experience so far in 2015, we've seen very little in the way of disruption. We have had some kind of external impacts on our businesses, whether it was not related to the construction, like weather and things of that nature. But I would say, really, related to the non-gaming amenities strategy, the only property that I can think of that could be significantly impacted is our Downtown segment with the casino floor renovation at The California. But as I run through the -- think through what we're planning to do for 2016, I would expect kind of minimal disruption throughout the year.
Got it. And then my final question. I believe I heard that you said the winter weather impact of Borgata was $15 million of EBITDA, one, five?
No, no. I'm sorry. My accent probably threw you off there. We definitely want to clarify that. It was about $5 million, and there was about $9 million of hold in 2015.
And then $5 million in January related to the winter weather.
And then, have you seen any of that lost business come back this month following [Indecipherable]?
Yes. We have started to see it come back.
Okay. That's all from me. Thanks, guys.
Keith E. Smith
Our next question comes from Chris Jones from Union Gaming. Please go ahead with your question.
Hi. Great. Thank you. Just first question is, going back to the Borgata here, just two things. First, any details you can give us about for the ongoing battle, or issue you're having with