Boyd Gaming purchases, retires $10.5 million of 7¾% notes in three months ended March 31

By Jennifer Chiou

New York, May 8 - Boyd Gaming Corp. purchased and retired $10.5 million of its 7¾% senior subordinated notes due December 2012 during the three months ended March 31, according to a 10-Q filed with the Securities and Exchange Commission.

The company paid $8.1 million for the notes, resulting in a gain of about $2.4 million.

Boyd also said that during the three months ended March 31, 2008, it had purchased and retired $16.8 million of the notes for $15.6 million, recording a gain of $1 million.

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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