suspending its quarterly dividend<\/a>, a move that, if enforced for an entire year, would save the company nearly $22 million. The operator was one of the first to alter shareholder rewards due to the COVID-19 pandemic.<\/p>\nTaking Costs Seriously<\/h2>\n
Boyd added that all non-essential spending \u201chas been postponed indefinitely,\u201d and that capital projects are suspended and will later be reevaluated by the board of directors.<\/p>\n
“As a result of these difficult but necessary actions, we are confident Boyd Gaming will have sufficient liquidity and resources to sustain itself until we are able to re-open for business,” Smith said. “We will continue to carefully review our operations and expenditures during the closure period and make additional adjustments as necessary.”<\/p>\n
On Wednesday, shares of Boyd surged nearly 23 percent on volume that was more than 50 percent above the daily average. But news of the furloughs broke after the close of US markets.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"Boyd Gaming (NYSE:BYD) will furlough most of its workforce starting Saturday, April 11, as the Sam’s Town operator looks to cut costs. All of its gaming venues remain shuttered because of the coronavirus outbreak. Like other gaming companies, Boyd has been subject to closures that started in mid-March. Initially, it was thought that the shutdowns […]<\/p>\n","protected":false},"author":46,"featured_media":132526,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62],"tags":[],"acf":[],"yoast_head":"\n
Boyd Gaming Is Laying off Most of its Status as COVID-19 Closures Linger<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n