Why Boyd Gaming's Shares Fell 30.2% to Start 2020
Shares of Boyd Gaming (NYSE: BYD) fell 30.2% in the first half of 2020, according to data provided by S&P Global Market Intelligence, as COVID-19 forced the shutdown of all of its resorts. And there may be no end in sight.
In March, Boyd Gaming and the rest of the gambling industry were forced to shut down casinos in order to combat COVID-19. That resulted in a 17.7% drop in revenue in the first quarter to $680.5 million and an $18.3 million net loss. But that was only with a few weeks of impact, so the second and third quarters will likely be much, much worse.
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Source Fool.com
