September 18, 2014 1:50 AM ET

Hotels, Restaurants and Leisure

Company Overview of Marina District Finance Company, Inc.

Company Overview

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

United States

Founded in 2000

Phone:

609-317-1000

Key Executives for Marina District Finance Company, Inc.

President and Director
Age: 53
Chief Financial Officer
Age: 52
Chief Operating Officer
Age: 61
Vice President and Secretary
Age: 49
Compensation as of Fiscal Year 2014.

Marina District Finance Company, Inc. Key Developments

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

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

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.

Similar Private Companies By Industry

Company Name Region
Bally Casino Holdings Inc. United States
Aloft Washington National Harbor United States
Sage Hospitality Resources, LLC United States
Mulligan's Neighborhood Grill and Raw Bar United States
Asian International Entertainment Inc. United States

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Bertelsmann AG Europe
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Rush University United States
Citizens Budget Commission United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact Marina District Finance Company, Inc., please visit --. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.