Magazine cites LV company as takeover target

Friday, Oct. 10, 2003 | 11:27 a.m.

A Las Vegas casino company has been named as a potential takeover target in the "Inside Wall Street" column of BusinessWeek magazine.

Boyd Gaming Corp. -- which owns the Stardust hotel-casino on the Strip, Sam's Town off the Boulder Highway as well as the downtown Las Vegas Main Street Station, Fremont and California hotel-casino properties -- was cited as a potential target because of its low price-earnings ratio.

The magazine quoted Jason Ader of Hayground Cove Asset Management, New York. Prior to forming Hayground, Ader was a gaming analyst at Bear Stearns.

In October 1999, Boyd Gaming was named in the "Inside Wall Street" column as a potential takeover target of what was then Mirage Resorts Inc. Mirage eventually merged with MGM Grand Inc. to become MGM MIRAGE.

Boyd stock was up 22 cents, or about 2 percent, at $14.29 in afternoon trading on the New York Stock Exchange.

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