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Article: Feature.(gambling industry)
- Article from:
- High Yield Report
- Article date:
- June 7, 2004
- Author:
CopyrightCOPYRIGHT 2004 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Early this year, Boyd Gaming Corp. decided it was time to raise the ante. But placing its bet to become a bigger player in Vegas - buying one casino as well as another entire casino company - meant coming up with a cool $2 billion. Thanks to a growing mania among both investors and banks in the gaming sector, the company earlier this month completed its financing - which wound up being larger, and cheaper, than Boyd first imagined.
For most Ba2/BB-rated companies, raising such a large sum of money would usually be a grueling task. But this year, the gaming sector has finally regained its former luster as an industry generally immune from overall economic pains. ...