Boyd Gaming Corp. said Wednesday the casino company authorized a new share repurchase program of $100 million. The program is in addition to the Boyd’s existing repurchase authorization.
Under the stock repurchase programs, Las Vegas-based Boyd may repurchase shares of its common stock on the open market or in privately negotiated agreements.
“Our new repurchase authorization underscores our commitment to use a portion of our growing free cash flow to return capital to shareholders,” Boyd CEO Keith Smith said in a statement. “We remain committed to a well-balanced approach to maximizing shareholder value through accretive acquisitions, re-investments in our existing assets, deleveraging, share repurchases and regular quarterly dividend payments.”
Boyd said the timing, volume and nature of share repurchases will be at the sole discretion of management, dependent on market conditions, applicable securities laws and other factors, and may be suspended or discontinued at any time.
