New Jersey online gambling bill makes Boyd a valuable stock target

It is believed that Boyd Gaming (BYD) is a good target as a stock, as it should see a considerable rise once online gambling is approved in New Jersey. The firm will be served with a lot of opportunities, once the gambling bill gets a nod from Governor Christie.

There are 22 properties in total owned by Boyd across US. However, their prized possession is Atlantic City’s Borgata.

Boyd has a 50 percent stakes in the casino. 4 years back, the Borgata Casino earned a net income of around USD 105 million and there was a free cash flow of USD 175 million. Even today, it is considered amongst the top casinos in the city.

The casino has 182 tables, 3,475 slots and 2,000 guest rooms. There are also 4 nightclubs, 12 restaurants, huge spa and close to 70,000 sq. foot venue. It is one of the largest venues in the city.

Experts believe that if a company has a presence in the New Jersey State and the gambling license gets passed, then it is going to become more valuable. This is one of the reasons, why Rational Group is so interested to build a position in the state by purchasing a casino.

At this moment, with Boyd being at a very low position in stock market, it is the time to cash in. There are high chances that once the online gambling law is passed, the stock value will reach its highest and might become a risky venture to participate in then.

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