Boyd Gaming retires $93.2 million of 7¾% notes in October

By Jennifer Chiou

New York, Nov. 12 - Boyd Gaming Corp. purchased and retired $93.2 million of its 7¾% senior subordinated notes due December 2012 in October, according to a 10-Q filed with the Securities and Exchange Commission.

The company paid $70.3 million for the notes, resulting in a gain of about $22 million that Boyd said it will record on its consolidated statements of operations during the three months ending Dec. 31.

Boyd also said that during the three and nine months ended Sept. 30, it purchased and retired $8.2 million and $39.3 million principal amount, respectively, of the notes.

The total purchase price of the notes was $7.6 million and $36.5 million, respectively.

The notes were bought back with funds from the company's bank credit facility.

Boyd Gaming is a Las Vegas-based gaming company.

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