Boyd Gaming to furlough "most team members" amid COVID-19 pandemic

8 April 2020

(PRESS RELEASE) -- Boyd Gaming Corporation today announced it is taking additional measures to mitigate the financial impact of the COVID-19 pandemic, which resulted in the closure of all of the Company's properties in mid-March.

Due to the continued closure of all revenue-generating operations, Boyd Gaming will place most of its team members on unpaid furlough effective Saturday, 11 April. For furloughed team members enrolled in the Company's health care plans, Boyd Gaming will pay all insurance premiums through 30 June or their return to work, whichever is sooner. A limited number of essential team members will remain on payroll during the closure period.

"This is by far the most difficult decision we have ever made," said Keith Smith, President and Chief Executive Officer of Boyd Gaming. "We care deeply about the well-being of our team members, which is why we maintained full pay and benefits through 10 April. Implementing furloughs was a last resort for us, but a necessary step to protect our Company, especially given the current lack of visibility regarding property re-openings."

The Company also announced that its executive leadership team will be taking significant salary reductions, while the Company's Board of Directors has agreed to suspend the Board's compensation. Additionally, all non-furloughed members of the Company's corporate and property management teams will take a salary cut.

Additional cost-containment measures taken by the Company include:
  • Following a thorough review of the Company's expenses, all non-essential spending has been postponed indefinitely.
  • All capital projects have been suspended and will be re-evaluated by the Board of Directors.
  • As previously announced, the Company's cash dividend program has also been suspended.
"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."

Related Links
Boyd Gaming Gaming Vendor Information

Featured Vendors
Rymax Marketing Services, Inc.
Texas Slots & Gaming
Rymax Marketing Services, Inc.
Leader in creating award winning player & employee loyalty programs & events proven to increase ROI
Texas Slots & Gaming
Wholesale gaming reimagined. Texas Slots & Gaming is your sustainable gaming partner.
Imagine This
Casino City Press
Imagine This
Imagine This #1 Source for Player Gifts. Over $50 million in stock ready to ship! Let us serve you!
Casino City Press
A leading publisher and distributor of casino and gaming business data and market research reports.
Betson Imperial Parts & Service
Top One Tech Limited
Betson Imperial Parts & Service
Your one stop shop for all your gaming and OEM needs!
Top One Tech Limited
Global Touch solution partner of choice, 10+ years OEM manufacturing, 100,000+ units application
AmericanChecked
Shenzhen ZhengYuanTai Technology Co., Ltd.
AmericanChecked
Background checks for the gaming industry with key & non-key packages & fingerprinting solutions
Shenzhen ZhengYuanTai Technology Co., Ltd.
14 years experienced gaming display manufacturer: open frame, curved, and halo monitors
Regulatory Management Counselors, PC
Oklahoma Indian Gaming Association (OIGA) Conference
Regulatory Management Counselors, PC
Over 45 years of experience serving the legal and regulatory needs of casino industry clients
Oklahoma Indian Gaming Association (OIGA) Conference
The biggest little show in Indian gaming! Save the date: August 12-14, 2024 Oklahoma City
Global Gaming Expo (G2E)
Dable Advisory & Consulting Services
Global Gaming Expo (G2E)
The largest gathering of global, commercial and tribal gaming professionals in North America.
Dable Advisory & Consulting Services
Advisory & consulting services services for Indigenous entrepreneurs, businesses & organizations
Indian Gaming Association's Mid-Year Conference & Expo
Casino Schedule Ease
Indian Gaming Association's Mid-Year Conference & Expo
The perfect combination of learning, networking & sharing ideas on today's hottest topics in gaming
Casino Schedule Ease
Full Featured & customizable for the complex scheduling needs of table games & other casino depts
TribalHub
Talisman Group Creators of EZ Baccarat
TribalHub
25th Annual TribalNet Conference Sept 16-19, 2024 Westgate Las Vegas
Talisman Group Creators of EZ Baccarat
With over 800 tables in 150+ casinos, EZ Baccarat is the number one brand in baccarat.
Slot Machines Unlimited
Players Pal
Slot Machines Unlimited
Exporter of IGT, Williams, AVP, Trimline, Aristocrat, Konami, Bally, & parts over 20 yrs experience
Players Pal
Revolutionize the way you connect with your casino players with the Players Pal mobile app
Sunkist Graphics, Inc.
Sunkist Graphics, Inc.
Specializing in the creation of best-of-breed gaming graphics - slot glass, sign faces, and more


Your Guide to 14,958 Gaming Industry Suppliers