Marina District Finance Company, Inc. owns and operates Borgata Hotel Casino and Spa. The company was incorporated in 2000 and is based in Atlantic City, New Jersey. Marina District Finance Company, Inc. operates as a subsidiary of Marina District Development Company LLC.
One Borgata Way
Atlantic City, NJ 08401
Founded in 2000
Marina District Finance Company, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Provides Earnings Guidance for the Full Year of 2014; Records Impairments on Assets for the First Quarter of 2014
Apr 30 14
Marina District Finance Company, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported net revenues of $708,349,000 compared with $735,584,000 for the same period a year ago. Operating income was $68,516,000 compared with $81,420,000 for the same period a year ago. Loss from continuing operations before income taxes was $6,377,000 compared with $13,088,000 for the same period a year ago. Loss from continuing operations, net of tax was $11,225,000 or $0.06 per diluted share compared with $10,664,000 or $0.07 per diluted share for the same period a year ago. Net loss attributable to Boyd Gaming Corporation was $6,182,000 or $0.06 per diluted share compared with $7,284,000 or $0.08 per diluted share for the same period a year ago. Adjusted EBITDA was $144,468,000 compared with $163,477,000 for the same period a year ago. Adjusted loss was $4,102,000 or $0.04 per share compared with adjusted earnings of $1,411,000 or $0.02 per share for the same period a year ago. Adjusted EBITDA was negatively impacted by an estimated $10 million to $12 million during the quarter due to unusually severe winter weather at the Company's operations outside of Nevada. Additionally, Borgata's online gaming operations recorded a $3.2 million operating loss related to its launch.
For the quarter, the company recorded impairments of assets of $1,633,000.
For the full-year 2014, the company currently projects total adjusted EBITDA of $600 million to $620 million.
Marina District Finance Company, Inc. Enters into Second Amendment to Credit Agreement with Marina District Development Company
Dec 28 12
On December 27, 2012, Marina District Finance Company, Inc. entered into the Second Amendment to Credit Agreement among the company, Marina District Development Company LLC certain financial institutions and Wells Fargo Bank, National Association as administrative agent for the Lenders. The Amendment amends certain terms of the Credit Agreement dated as of August 6, 2010 among the Credit Parties, the lenders from time to time party thereto, the Administrative Agent, and Wells Fargo, as L/C Issuer and Swing Line Lender.