NEW YORK Aug 1 Casino operator Boyd Gaming
Corp (BYD.N) said on Friday it has decided to delay
construction of its new Las Vegas Strip casino called Echelon
and suspended quarterly dividends.
The company also posted lower second-quarter profit as the
U.S. economic slowdown reduced gambling revenue.
The company also said it has decided to delay the
construction of Echelon due to the challenging economic
environment. It plans to resume construction in three or four
quarters, assuming credit market conditions and economic
Boyd had been paying quarterly dividends of 15 cents per
Boyd reported net income of $21.7 million, or 25 cents a
share, compared with $22.1 million, or 25 cents per share, a
Income from continuing operations slipped to 25 cents a
share in the quarter from 26 cents a share a year before.
Excluding items, earnings in the quarter were 30 cents a
share, down from a year-ago 45 cents a share.
(Reporting by Euan Rocha, editing by Gerald E. McCormick)