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Gaming Guru

Howard Stutz

Boyd lays off workers nationwide, including top veeps

24 January 2013

LAS VEGAS -- Boyd Gaming Corporation laid off an undisclosed number of workers Wednesday, including three corporate vice presidents.

The Las Vegas-based casino operator said the number of layoffs was less than 1 percent of the company's workforce.

Boyd Gaming spokesman David Strow said the layoffs came in several of the company's markets across the country. He said the company evaluated staffing levels and current business volumes.

"As we all know, revenue is unpredictable," Strow said.

Boyd Gaming employed about 25,000 workers nationwide after two recent acquisitions. In November, Boyd completed a $1.45 billion purchase of Peninsula Gaming, which gave the company casinos in two new markets, Iowa and Kansas, while adding to its base in Louisiana.

Thirteen months earlier, Boyd Gaming spent $278 million to purchase the IP Biloxi in Mississippi from the Englestad Family Foundation.

The acquisitions gave Boyd Gaming 22 properties in eight states - Nevada, New Jersey, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi.

In Las Vegas, Boyd Gaming operates three downtown casinos, three Coast Casinos brands and Sam's Town. In Atlantic City, Boyd owns 50 percent of the Borgata and manages the resort.

Boyd Gaming halted development of the $4.8 billion Echelon on the Strip in 2008. The company is expected to begin a "beautification" of the Echelon site, which will involve landscaping and a wrap covering the unfinished buildings.

The layoffs also hit the company's corporate offices. Vice President of Corporate Marketing Dan Stark lost his position along with Vice President of Corporate Communications Rob Meyne and Vice President of Human Resources Bob Gerst.

Stark spent 13 years with Boyd Gaming and was responsible for the company's sponsorship programs with the National Finals Rodeo and NASCAR.
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