{"id":122764,"date":"2019-12-21T12:33:46","date_gmt":"2019-12-21T20:33:46","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=122764"},"modified":"2019-12-23T16:38:14","modified_gmt":"2019-12-24T00:38:14","slug":"boyd-gaming-could-be-a-winning-bet-in-2020-thanks-to-sports-wagering","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/boyd-gaming-could-be-a-winning-bet-in-2020-thanks-to-sports-wagering\/","title":{"rendered":"Boyd Gaming Could be Winning 2020 Bet, Wall Street Likes Sports Wagering Leverage"},"content":{"rendered":"

Up 46 percent year-to-date, Boyd Gaming Corp. (NYSE:BYD) is one of 2019’s best-performing casino and leisure stocks. Some analysts believe more upside is coming in 2020 for the operator of The Orleans and Sam’s Town in Las Vegas.<\/p>\n

\"\"
Boyd Gaming could be a winning bet on sports wagering, according to some analysts. (Image: South Bend Tribune)<\/figcaption><\/figure>\n

In a recent note on Boyd, Nomura Instinet analyst Harry Curtis highlighted the company’s new projects in Sin City, where it operates a dozen gaming properties, while forecasting positive earnings before interest, taxes, depreciation and amortization (EBITDA) growth.<\/p>\n

We believe M&A-driven revenue and cost synergies will continue to help drive earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR)<\/span> outperformance,\u201d said Curtis.<\/p><\/blockquote>\n

In addition to the aforementioned Orleans and Sam’s Town, Boyd Gaming operates the Aliante, California, Cannery, Eastside Cannery, Fremont and Suncoast Hotel and Casino<\/a> in and around its home market of Las Vegas.<\/p>\n

Wall Street Is Enthusiastic<\/h2>\n

Analysts and investors appear to coming around on Boyd stock due in part to the company’s sports betting exposure, which is bolstered by a partnership with FanDuel<\/a>. That deal was announced in August 2018, a few months after the Supreme Court ruling<\/a> on the Professional and Amateur Sports Protection Act (PAPSA).<\/p>\n

The Boyd\/FanDuel tie-up doesn’t just help the casino operator when it comes to brick-and-mortar sportsbooks. It gives the gaming operator access to FanDuel’s massive database of daily fantasy players, a demographic analysts believe is keen to access other online betting options.<\/p>\n

Still, investors have been tepid on betting on gaming equities with sports wagering leverage, including Boyd. Since the PAPSA ruling, the Main Street Station operator and rival Penn National Gaming (NASDAQ:PENN), another regional operator with significant sports betting exposure, have seen their shares tumble, though both names have rallied in 2019<\/a>.<\/p>\n

We do not believe investors have been willing to underwrite sports betting yet, but if we enter a new mini cycle, we expect investors will start to pay attention more in 2020,\u201d said Morgan Stanley analyst Thomas Allen in recent note.<\/p><\/blockquote>\n

Morgan Stanley sees the domestic sports betting market surging to $7 billion by 2025<\/a>, assuming legalization in 36 states. Currently, 19 states and Washington, D.C. have approved sports wagering.<\/p>\n

Betting On Boyd<\/h2>\n

Boyd has more than adequate sports betting leverage. In addition to its 12 Silver State venues, the company runs four properties combined in the fast-growing Indian<\/a>a and Iowa markets.<\/p>\n

The operator also has a total of three properties in Mississippi and Pennsylvania, states where sports betting is legal and up and running, as well as the Par-A-Dice in Illinois. Sports betting is expected to come online in the Prairie State next year<\/a>.<\/p>\n

For his part, Curtis is bullish on Boyd, putting a $37 price target on the name, implying upside of almost 22 percent from Friday’s close at $30.34.<\/p>\n","protected":false},"excerpt":{"rendered":"

Up 46 percent year-to-date, Boyd Gaming Corp. (NYSE:BYD) is one of 2019’s best-performing casino and leisure stocks. Some analysts believe more upside is coming in 2020 for the operator of The Orleans and Sam’s Town in Las Vegas. In a recent note on Boyd, Nomura Instinet analyst Harry Curtis highlighted the company’s new projects in […]<\/p>\n","protected":false},"author":46,"featured_media":122767,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,1074],"tags":[],"acf":[],"yoast_head":"\nBoyd Gaming Could be a Winning Bet in 2020 Thanks to Sports Wagering<\/title>\n<meta name=\"description\" content=\"Boyd Gaming shares are soaring this year, and there could be more to come in 2020 as markets price-in sports betting benefits.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/boyd-gaming-could-be-a-winning-bet-in-2020-thanks-to-sports-wagering\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Boyd Gaming Could be a Winning Bet in 2020 Thanks to Sports Wagering\" \/>\n<meta property=\"og:description\" content=\"Boyd Gaming shares are soaring this year, and there could be more to come in 2020 as markets price-in sports betting benefits.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/boyd-gaming-could-be-a-winning-bet-in-2020-thanks-to-sports-wagering\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2019-12-21T20:33:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-12-24T00:38:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/12\/boyd.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/boyd-gaming-could-be-a-winning-bet-in-2020-thanks-to-sports-wagering\/\",\"url\":\"https:\/\/www.casino.org\/news\/boyd-gaming-could-be-a-winning-bet-in-2020-thanks-to-sports-wagering\/\",\"name\":\"Boyd Gaming Could be a Winning Bet in 2020 Thanks to Sports Wagering\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/boyd-gaming-could-be-a-winning-bet-in-2020-thanks-to-sports-wagering\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/boyd-gaming-could-be-a-winning-bet-in-2020-thanks-to-sports-wagering\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/12\/boyd.jpg\",\"datePublished\":\"2019-12-21T20:33:46+00:00\",\"dateModified\":\"2019-12-24T00:38:14+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Boyd Gaming shares are soaring this year, and there could be more to come in 2020 as markets price-in sports betting benefits.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/boyd-gaming-could-be-a-winning-bet-in-2020-thanks-to-sports-wagering\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/boyd-gaming-could-be-a-winning-bet-in-2020-thanks-to-sports-wagering\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/boyd-gaming-could-be-a-winning-bet-in-2020-thanks-to-sports-wagering\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/12\/boyd.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/12\/boyd.jpg\",\"width\":1200,\"height\":800,\"caption\":\"Boyd Gaming could be a winning bet on sports wagering, according to some analysts. 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