NEW YORK (TheStreet) -- Boyd Gaming (BYD) rallied sharply, a 4.08% one-day spike, on Tuesday, the same day that online gaming became legal in New Jersey.
Boyd shares are still down over 27% from the Oct. 18 high of $14.35, so my enthusiasm for BYD is muted at best. The company announced earlier Tuesday its Borgata Hotel Casino and Spa has been authorized by the New Jersey Division of Gaming Enforcement to offer real-money online gaming to the general public in the state.
Boyd Gaming also announced that following an initial trial period, two Borgata-branded gaming sites were approved by the Division of Gaming Enforcement to accept wagers from the general public in the state of New Jersey. The Garden State joins Nevada and Delaware in allowing online casino games. Mississippi is reportedly examining the same kind of tolerance for online gaming in its jurisdiction.
If you have the taste for this kind of activity you might want to check out an example of what a Borgata gaming site, one dedicated especially for online poker, looks like. It appears the same site also has other games and gambling activities using this Web address.
"The launch of our first real-money online gaming product is an exciting milestone for our company," Keith Smith, president and CEO of Boyd Gaming, said in a statement. "Boyd Gaming views online gaming as a compelling opportunity to further grow and diversify our operations, and the launch of our New Jersey online product is the most significant step yet in that effort."
Will BYD profit from this new online opportunity? Investors are already betting that it will. But before you ante up too much for the shares of the stock, consider the other operations and holdings of this purveyor of casinos.
Headquartered in Las Vegas, Boyd Gaming has a market cap of $1.1 billion and claims that it "...is a leading diversified owner and operator of 22 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississi! ppi and New Jersey."
Before I comment on one person's experience at a BYD's property in Las Vegas, let me remind you that there's already an outcry of opposition against online gambling. Former U.S. senator from Arkansas Blanche Lincoln spoke out on CNBC against online gambling on the same day it became legal in New Jersey.
Best Penny Stocks To Invest In 2015: PhilWeb Corp (WEB)
PhilWeb Corporation is a Philippines-based Internet gaming company. The Company focused its activities on building its Internet-based products and services. The Company is engaged in providing products and services within a particular economic environment. It operates in two geographical segments: domestic operations and foreign operations. Its subsidiaries include BigGame, Inc., operates Internet casino station operations; Premayo sa Resibo, Inc., develops and markets computer systems, applications, programs and operates gaming platforms; PhilWeb Casino Corporation, develops, engages and maintains gaming systems and applications for all types of casino operations; e-Magine Gaming Corporation, develops technology, and PhilWeb Leisure & Tourism Corporation, establishes, operates and maintains leisure and tourism-oriented activities. Effective December 13, 2013, ePLDT Inc, a wholly owned unit of Philippine Long Distance Telephone Co acquired a 27.283% interest in Philweb Corp. Advisors' Opinion:- [By Geoff Gannon]
Always touchable money is cash. For individuals, there's little reason for it not to be a simple bank account, money market fund, etc. For most investors, you can just let this stock sit in your brokerage account. Many brokers will sweep unused cash into a money market account ��or other form of savings ��where it can earn a tiny amount of interest for you while staying totally liquid. One advantage of keeping cash in this form is that you can look at your cash and stock positions on the same (web)page any time you want. So, for example, if you know you want to keep 10% of your portfolio in cash ��you can see that you have $12,000 in cash as part of your $120,000 brokerage account and that means you are right on target with your liquidity goal.
Best Casino Stocks To Own For 2014: Dover Downs Gaming & Entertainment Inc (DDE)
Dover Downs Gaming & Entertainment, Inc., incorporated in December of 2001, is a premier gaming and entertainment resorts. The Company�� operations consist of: Dover Downs Casino, a 165,000-square foot casino complex featuring table games, including craps, roulette and card games, such as blackjack, Spanish 21, baccarat, 3-card and pai gow poker, the latest in slot machine offerings, multi-player electronic table games, the Crown Royal poker room, a Race & Sports Book operation, the Dover Downs' Fire & Ice Lounge, the Festival Buffet, Doc Magrogan's Oyster House, Frankie's Italian restaurant, as well as several bars, restaurants and four retail outlets; Dover Downs Hotel and Conference Center, a 500 room AAA Four Diamond hotel with a full-service spa/salon, conference, banquet, ballroom and concert hall facilities, and Dover Downs Raceway, a harness racing track with pari-mutuel wagering on live and simulcast horse races. All of its operations are located at its entertainment complex in Dover. Its two wholly owned subsidiaries include Dover Downs, Inc. and Dover Downs Gaming Management Corp.
Dover Downs Casino
The Company's casino had approximately 2,539 slot machines as of December 31, 2011. It is open for business around the clock. During the year ended December 31, 2011, that the facility was visited by approximately 2.6 million patrons. Its slot machines range from penny machines to $100 machines in the Premium Slots area and include games found in the country's major gaming jurisdictions. The Company operates with 40 tables, including blackjack, craps and roulette tables. The Crown Royal poker room has 12 poker tables. It has its Race and Sports Book operation featuring parlay sports wagering on NFL games and pari-mutuel wagering on live and simulcast horse races. Dover Downs, Inc. is authorized to conduct video lottery, sports wagering and table game operations. The Company's Capital Club, a slots players club and tracking system, allows it to identify customers and t! o reward their level of play through various marketing programs.
Dover Downs Hotel
The Company's luxury hotel facility, the Dover Downs Hotel and Conference Center, connects to the Company's casino. The facility includes 500 rooms, including 11 luxury spa suites, a multi-purpose ballroom/concert hall, a fine dining restaurant, swimming pool and a luxurious 6,000 square-foot full-service spa. It offers a range of entertainment options to its patrons, including concerts featuring prominent entertainers, live boxing, gourmet dining, spa facilities, trade shows and conferences. During 2011, hotel occupancy averaged 90%.
Dover Downs Raceway
The Company�� Dover Downs Raceway conducts live harness races from November until April and is simulcast to more than 300 tracks and other off-track betting locations across North America on each of the Company's more than 120 live race dates. The Company's harness racing track is a 5/8-mile track that is located on DVD's property and is on the inside of its one-mile motorsports superspeedway. Additional amenities include the Winners Circle Restaurant overlooking the horse racing track. Within the Company's Race & Sports Book operation is the simulcast parlor where the patrons can wager on harness and thoroughbred races received by satellite into its facility year round from numerous tracks across North America. Television monitors throughout the area provide views of all races simultaneously and the betting windows are connected to a central computer allowing bets to be received on all races from all tracks.
The Company has an agreement with the Delaware Standardbred Owner's Association, Inc. (DSOA) effective September 1, 2010 and continuing through August 31, 2014. DSOA's membership consists of owners, trainers and drivers of harness horses participating in harness race meetings at its facilities and elsewhere in the United States and Canada. Under the DSOA agreement, the Company is required to distrib! ute as pu! rses for races conducted at its facilities a percentage of its retained share of pari-mutuel revenues.
The Company competes with Harrington Raceway and Delaware Park.
Advisors' Opinion:- [By Paul Ausick]
Stocks on the move: Vodafone Group PLC (NASDAQ: VOD) is up 8.1% at $31.80 on reports of discussions with Verizon Communications Inc. (NYSE: VZ) that would result in the sale of Vodafone�� 45% stake in Verizon Wireless to the controlling shareholder. Dover Downs Gaming & Entertainment Inc. (NYSE: DDE) is up 10.8% at $1.54 after Wednesday�� launch of its online casino games that will soon be available to state residents to play for real money.
- [By Paul Ausick]
The REIT is expected to spend as much as $500 million in acquisitions in 2014, according to Barron��, and some potential acquisition targets include Isle of Capri Casinos Inc. (NASDAQ: ISLE) which has a market cap of around $323 million or Dover Downs Gaming & Entertainment Inc. (NYSE: DDE) with a market cap of around $47 million.
Best Casino Stocks To Own For 2014: Boyd Gaming Corporation(BYD)
Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in the United States. As of December 31, 2011, the company owned and operated 1,042,787 square feet of casino space, containing approximately 25,973 slot machines, 655 table games, and 11,418 hotel rooms. It also owned and operated 16 gaming entertainment properties located in Nevada, Illinois, Louisiana, Mississippi, Indiana, and New Jersey. In addition, the company owns and operates a pari-mutuel jai-alai facility located in Dania Beach, Florida, as well as a travel agency in Hawaii. Further, it holds a 50% controlling interest in the limited liability company that operates Borgata Hotel Casino and Spa in Atlantic City, New Jersey. Boyd Gaming Corporation was founded in 1988 and is headquartered in Las Vegas, Nevada.
Advisors' Opinion:- [By Wallace Witkowski]
Shares of Boyd Gaming Corp. (BYD) �rose 8% to $12.75 on moderate volume after hedge fund Elliot Associates L.P. disclosed in a regulatory filing it had acquired a 4.99% stake in the casino operator.
- [By M. Joy, Hayes]
Industry trends
Other businesses in the industry also have copious related-party transactions. In particular, founder-led businesses Wynn Resorts (NASDAQ: WYNN ) and Boyd Gaming (NYSE: BYD ) �reported a large number of such transactions in their 2013 proxies, including employment of relatives, employee use of company services, and employee use of company-owned property. MGM Resorts International (NYSE: MGM ) , on the other hand, didn't have to report any related-party transactions in its 2013 proxy.
Best Casino Stocks To Own For 2014: Wynn Resorts Limited(WYNN)
Wynn Resorts, Limited, together with its subsidiaries, engages in the development, ownership, and operation of destination casino resorts. The company owns and operates Wynn Las Vegas casino resort in Las Vegas, which includes approximately 22 food and beverage outlets comprising 5 dining restaurants; 2 nightclubs; 1 spa and salon; 1 Ferrari and Maserati automobile dealership; wedding chapels; an 18-hole golf course; meeting space; and foot retail promenade featuring boutiques. Wynn Las Vegas casino resort also features approximately 147 table games, 1 baccarat salon, private VIP gaming rooms, 1 poker room, 1,842 slot machines, and 1 race and sports book. It also owns and operates an Encore at Wynn Las Vegas resort, a destination casino resort located adjacent to Wynn Las Vegas that features a 2,034 all-suite hotel, as well as a casino with 95 table games, 1 sky casino, 1 baccarat salon, private VIP gaming rooms, and 778 slot machines. In addition, the company operates Wyn n Macau casino resort located in the Macau Special Administrative Region of the People?s Republic of China. Wynn Macau casino resort features approximately 595 hotel rooms and suites, 410 table games, 935 slot machines, 1 poker room, 1 sky casino, 6 restaurants, 1 spa and salon, lounges, meeting facilities, and retail space featuring boutiques. Further, it operates Encore at Wynn Macau resort located adjacent to Wynn Macau. Encore at Wynn Macau resort features approximately 410 luxury suites and 4 villas, as well as casino gaming space, including a sky casino consisting of 60 table games and 80 slot machines, 2 restaurants, 1 luxury spa, and retail space. The company was founded in 2002 and is based in Las Vegas, Nevada.
Advisors' Opinion:- [By Holly LaFon]
His largest new buys in the first quarter are: Penn Virginia Group Holdings LP (PVG), Wynn Resorts Ltd. (WYNN), Methanex Corp. (MEOH), Solutia Inc. (SOA) and Georgia Gulf (GGC). Of his top eight stocks, five are from the chemicals industry.
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