Boyd Gaming Corporation (NYSE:BYD) Q4 2015 Earnings Conference Call - Final Transcript
Feb 16, 2016 • 05:00 pm ET
Keith E. Smith
market alone. Not surprisingly, this is having a significant impact on Par-A-Dice, with EBITDA down $1.3 million during the quarter.
The picture is brighter in the neighboring State of Iowa. Marketing refinements and a competitive product drove EBITDA growth of 10% at Diamond Jo Dubuque, which has outpaced the State in gaming revenue growth for the last three quarters. We also achieved solid revenue and EBITDA growth at Diamond Jo Worth.
In Mississippi, we saw revenue and EBITDA growth at both the IP and Sam's Town Tunica. For the IP, it was the property's fourth straight quarter of both top and bottom line growth, as EBITDA grew more than 20% year-over-year. And while the Tunica market continues to face its share of challenges, the team at Sam's Town also delivered both revenue and EBITDA growth, thanks to refinements in marketing and operations.
In Louisiana, Treasure Chest continued a string of exceptional quarterly performances, with growth in table and slot volumes, as well as higher guest counts, Treasure Chest delivered its fifth straight quarter of revenue growth, market share growth and double-digit EBITDA gains, with EBITDA increasing 15% year-over-year in the fourth quarter.
To the West, Delta Downs has successfully adapted to new competition, matching last year's fourth quarter EBITDA performance, while improving operating margins by more than 70 basis points. When comparing to last year's results, remember that Delta Downs didn't face new competition until December 2014, making this year's performance even more impressive. And in the face of this new competition for the full year, Delta Downs showed an EBITDA decline of less than $900,000. That's an outstanding performance by our properties management team as they demonstrated their ability to effectively compete in the expanded Lake Charles market.
Next, in Kansas, positive trends continued at the Kansas Star, as the property overcame ice storms during two of the quarter's busiest weekends to achieve its fifth straight quarter of revenue and EBITDA growth.
And lastly, in Atlantic City, Borgata delivered yet another great performance, with 8% revenue growth and a 27% year-over-year EBITDA increase. Higher table hold accounted for about one half of our EBITDA growth in the quarter, but Borgata saw strong increases in business volumes as well. Borgata set fourth quarter records for gross slot win and hotel rooms occupied, and we set an all-time record for quarterly market share of just over 30% of the Atlantic City market.
The results are a reflection of the Borgata team's continued success in leveraging our market-leading products and amenities. No other gaming property in the Northeast region can match the breadth and quality of the Borgata experience. Our gaming, our dining, our live entertainment, our hotel products, and most importantly, our exceptional customer service delivered by an exceptional group of team members. Our unique brand of hospitality gives Borgata a significant edge over the competition. But we don't take that for granted. We continue to invest in this brand by constantly innovating and upgrading our product. And over the next