07/30/2003 11:00PM

Boyd to invest $50M in Delta


A new hotel will be built at Delta Downs in Vinton, La., next year as part of a $50 million expansion project at the track, Las Vegas-based owner Boyd Gaming announced Wednesday. The project's first phase will include expansion of Delta's slots casino, while the second phase, set to begin in early 2004, will include a 200-room hotel.

Boyd, which operates 13 gaming properties around the country, reported second-quarter revenues of $313 million on Wednesday, about the same as the company's corresponding quarter in 2002. For the first six months of 2003, revenue was $634 million, versus last year's $615 million.

Since Delta Downs's 1,500-machine casino opened in February 2002, gross revenue from slots has totaled $181 million, according to figures posted by the Louisiana Gaming Control Board.

Stock prices for Boyd dipped on Thursday, one day after its second-quarter report was issued. The stock closed at $15.95 a share, down from $17.60 on Wednesday.

Boyd purchased Delta for more than $100 million in May 2001.