Condensed Consolidating Financial Information

6 Months Ended

Jun. 30, 2012

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidating Financial Information

CONDENSED CONSOLIDATING FINANCIAL INFORMATION

Separate condensed consolidating financial information for our subsidiary guarantors and non-guarantors of our 9.125% senior notes due 2018 is presented below. The non-guarantors primarily represent special purpose entities, tax holding companies, our less significant operating subsidiaries and our less than wholly-owned subsidiaries.

The tables below present the condensed consolidating balance sheets as of June 30, 2012 and December 31, 2011 and the condensed consolidating statements of operations for the three and six months ended June 30, 2012 and 2011 and the condensed consolidating statements of cash flows for the six months ended June 30, 2012 and 2011.

Condensed Consolidating Balance Sheets

	June 30, 2012
								Non-				Non-
								Guarantor				Guarantor
								Subsidiaries				Subsidiaries
				Guarantor				(100%				(Not 100%
	Parent			Subsidiaries				Owned)				Owned)				Eliminations				Consolidated
								(In thousands)
Assets
Cash and cash equivalents	$	299		$	116,395			$	209,735			$	34,026			$	—			$	360,455
Other current assets	12,531			84,486				16,255				53,152				—				166,424
Property and equipment, net	109,030			2,104,222				74,915				1,232,241				—				3,520,408
Assets held for development	—			926,393				—				163,805				—				1,090,198
Investments in subsidiaries	4,105,135			396,240				32				—				(4,501,407		)		—
Intercompany receivable	—			306,790				—				—				(306,790		)		—
Other assets, net	34,171			6,610				6,633				69,099				—				116,513
Intangible assets, net	—			486,818				21,374				63,182				—				571,374
Goodwill, net	—			212,794				782				—				—				213,576
Total assets	$	4,261,166		$	4,640,748			$	329,726			$	1,615,505			$	(4,808,197	)		$	6,038,948
Liabilities and Stockholders' Equity
Current maturities of long-term debt	$	42,500		$	10,711			$	—			$	—			$	—		—	$	53,211
Non-recourse debt	—			—				—				31,621				—				31,621
Current liabilities	4,422			267,744				26,166				108,596				43				406,971
Intercompany payable	108,999			—				197,851				—				(306,850		)		—
Long-term debt, net of current maturities	2,685,346			—				—				795,619				—				3,480,965
Due from affiliates	177,556			(89,666		)		—				—				(87,890		)		—
Other long-term liabilities	27,652			405,486				790				51,673				—				485,601
Non-recourse debt	—			—				—				192,479				—				192,479
Preferred stock	—			—				—				—				—				—
Common stock	863			31,128				32				—				(31,160		)		863
Additional paid-in capital	649,944			2,984,231				295,796				476,733				(3,756,760		)		649,944
Retained earnings (deficit)	563,884			1,031,114				(190,909		)		(41,216		)		(798,989		)		563,884
Total Boyd Gaming Corporation stockholders' equity (deficit)	1,214,691			4,046,473				104,919				435,517				(4,586,909		)		1,214,691
Noncontrolling interest	—		—	—			—	—			—	—			—	173,409				173,409
Total stockholders' equity (deficit)	1,214,691			4,046,473				104,919				435,517				(4,413,500		)		1,388,100
Total liabilities and stockholders' equity	$	4,261,166		$	4,640,748			$	329,726			$	1,615,505			$	(4,808,197	)		$	6,038,948

Condensed Consolidating Balance Sheets - continued

	December 31, 2011
					Non-			Non-
					Guarantor			Guarantor
					Subsidiaries			Subsidiaries
			Guarantor		(100%			(Not 100%
	Parent		Subsidiaries		Owned)			Owned)			Eliminations			Consolidated
					(In thousands)
Assets
Cash and cash equivalents	$	364	$	128,185	$	3,944		$	46,263		$	—		$	178,756
Other current assets	29,818		70,448		13,459			50,413			—			164,138
Property and equipment, net	115,346		2,120,227		75,739			1,230,796			—			3,542,108
Assets held for development	—		926,013		—			163,806			—			1,089,819
Investments in subsidiaries	3,777,298		353,740		32			—			(4,131,070		)	—
Intercompany receivable	—		187,911		—			—			(187,911		)	—
Other assets, net	28,501		15,068		5,993			71,077			—			120,639
Intangible assets, net	—		487,907		21,374			64,737			—			574,018
Goodwill, net	—		212,794		782			—			—			213,576
Total assets	$	3,951,327	$	4,502,293	$	121,323		$	1,627,092		$	(4,318,981	)	$	5,883,054
Liabilities and Stockholders' Equity
Current maturities of long-term debt	$	42,500	$	730	$	—		$	—		$	—		$	43,230
Non-recourse debt	—		—		—			29,686			—			29,686
Current liabilities	146,054		152,437		16,725			102,484			(18,596		)	399,104
Intercompany payable	455		—		216,211			—			(216,666		)	—
Long-term debt, net of current maturities	2,527,076		10,341		—			809,809			—			3,347,226
Other long-term liabilities	33,150		404,463		1,537			57,599			—			496,749
Non-recourse debt	—		—		—			192,980			—			192,980
Preferred stock	—		—		—			—			—			—
Common stock	863		31,128		32			—			(31,160		)	863
Additional paid-in capital	644,174		2,984,250		41,724			476,733			(3,502,707		)	644,174
Retained earnings (deficit)	557,055		918,944		(154,906		)	(42,199		)	(721,839		)	557,055
Total Boyd Gaming Corporation stockholders' equity (deficit)	1,202,092		3,934,322		(113,150		)	434,534			(4,255,706		)	1,202,092
Noncontrolling interest	—		—		—			—			171,987			171,987
Total stockholders' equity (deficit)	1,202,092		3,934,322		(113,150		)	434,534			(4,083,719		)	1,374,079
Total liabilities and stockholders' equity	$	3,951,327	$	4,502,293	$	121,323		$	1,627,092		$	(4,318,981	)	$	5,883,054

Condensed Consolidating Statements of Operations

	Three Months Ended June 30, 2012
							Non-			Non-
							Guarantor			Guarantor
							Subsidiaries			Subsidiaries
				Guarantor			(100%			(Not 100%
	Parent			Subsidiaries			Owned)			Owned)			Eliminations			Consolidated
							(In thousands)
Net revenues	$	35,317		$	425,858		$	13,948		$	175,415		$	(35,316	)	$	615,222
Costs and expenses
Operating	—			233,531			14,436			95,267			—			343,234
Selling, general and administrative	—			72,527			2,931			34,996			—			110,454
Maintenance and utilities	—			24,592			555			14,423			—			39,570
Depreciation and amortization	2,097			31,901			690			16,014			—			50,702
Corporate expense	19,114			77			264			—			(6,446		)	13,009
Preopening expenses	261			4,216			349			(2,616		)	—			2,210
Other operating charges, net	6,243			(6,279		)	—			(2,160		)	—			(2,196		)
Total costs and expenses	27,715			360,565			19,225			155,924			(6,446		)	556,983
Equity in earnings of subsidiaries	16,649			3,383			—			—			(20,032		)	—
Operating income (loss)	24,251			68,676			(5,277		)	19,491			(48,902		)	58,239
Other expense (income)
Interest expense, net	41,330			161			(409		)	23,298			—			64,380
Total other expense, net	41,330			161			(409		)	23,298			—			64,380
Income (loss) before income taxes	(17,079		)	68,515			(4,868		)	(3,807		)	(48,902		)	(6,141		)
Income taxes	18,056			(14,801		)	1,791			404			—			5,450
Net income (loss)	977			53,714			(3,077		)	(3,403		)	(48,902		)	(691		)
Net loss attributable to noncontrolling interest	—			—			—			—			1,668			1,668
Net income (loss) attributable to Boyd Gaming Corporation	$	977		$	53,714		$	(3,077	)	$	(3,403	)	$	(47,234	)	$	977
Comprehensive loss	$	—		$	—		$	—		$	(664	)	$	—		$	(664	)

Condensed Consolidating Statements of Operations - continued

	Three Months Ended June 30, 2011
							Non-			Non-
							Guarantor			Guarantor
							Subsidiaries			Subsidiaries
				Guarantor			(100%			(Not 100%
	Parent			Subsidiaries			Owned)			Owned)			Eliminations			Consolidated
							(In thousands)
Net revenues	$	38,350		$	377,443		$	14,204		$	185,525		$	(41,119	)	$	574,403
Costs and expenses
Operating	—			203,551			14,537			96,014			—			314,102
Selling, general and administrative	—			62,073			2,011			32,699			—			96,783
Maintenance and utilities	—			20,316			1,038			15,419			—			36,773
Depreciation and amortization	2,004			29,204			732			16,548			—			48,488
Corporate expense	22,511			11,611			653			—			(22,511		)	12,264
Preopening expenses	240			(3,007		)	4,416			92			—			1,741
Other operating charges, net	397			1,116			—			749			—			2,262
Total costs and expenses	25,152			324,864			23,387			161,521			(22,511		)	512,413
Equity in earnings of subsidiaries	15,397			(2,842		)	—			—			(12,555		)	—
Operating income (loss)	28,595			49,737			(9,183		)	24,004			(31,163		)	61,990
Other expense (income)
Interest expense, net	39,847			198			(6		)	26,635			—			66,674
Fair value adjustment of derivative instruments	48			—			—			—			—			48
Gain on early retirements of debt	—			—			—			—			—			—
Total other expense, net	39,895			198			(6		)	26,635			—			66,722
Income (loss) before income taxes	(11,300		)	49,539			(9,177		)	(2,631		)	(31,163		)	(4,732		)
Income taxes	8,349			(10,691		)	1,611			(180		)	—			(911		)
Net income (loss)	(2,951		)	38,848			(7,566		)	(2,811		)	(31,163		)	(5,643		)
Net loss attributable to noncontrolling interest	—			—			—			—			2,692			2,692
Net income (loss) attributable to Boyd Gaming Corporation	$	(2,951	)	$	38,848		$	(7,566	)	$	(2,811	)	$	(28,471	)	$	(2,951	)
Comprehensive income (loss)	$	935		$	—		$	—		$	(4,765	)	$	—		$	(3,830	)

Consolidating Statements of Operations - continued

	Six Months Ended June 30, 2012
							Non-			Non-
							Guarantor			Guarantor
							Subsidiaries			Subsidiaries
				Guarantor			(100%			(Not 100%
	Parent			Subsidiaries			Owned)			Owned)			Eliminations			Consolidated
							(In thousands)
Net revenues	$	72,774		$	867,922		$	28,817		$	351,566		$	(72,774	)	$	1,248,305
Costs and expenses
Operating	—			470,979			29,795			185,689			—			686,463
Selling, general and administrative	—			146,606			6,026			67,539			—			220,171
Maintenance and utilities	—			48,540			1,063			28,730			—			78,333
Depreciation and amortization	4,227			63,962			1,383			31,144			—			100,716
Corporate expense	44,298			154			542			—			(19,114		)	25,880
Preopening expenses	385			8,344			349			(5,208		)	—			3,870
Other operating charges, net	6,272			(6,033		)	—			(2,188		)	—			(1,949		)
Total costs and expenses	55,182			732,552			39,158			305,706			(19,114		)	1,113,484
Equity in earnings of subsidiaries	43,114			9,142			—			—			(52,256		)	—
Operating income (loss)	60,706			144,512			(10,341		)	45,860			(105,916		)	134,821
Other expense (income)
Interest expense, net	81,118			322			(409		)	47,173			—			128,204
Total other expense, net	81,118			322			(409		)	47,173			—			128,204
Income (loss) before income taxes	(20,412		)	144,190			(9,932		)	(1,313		)	(105,916		)	6,617
Income taxes	27,241			(31,558		)	3,657			(173		)	—			(833		)
Net income (loss)	6,829			112,632			(6,275		)	(1,486		)	(105,916		)	5,784
Net loss attributable to noncontrolling interest	—			—			—			—			1,045			1,045
Net income (loss) attributable to Boyd Gaming Corporation	$	6,829		$	112,632		$	(6,275	)	$	(1,486	)	$	(104,871	)	$	6,829
Comprehensive income	$	—		$	—		$	—		$	8,251		$	—		$	8,251

Condensed Consolidating Statements of Operations - continued

	Six Months Ended June 30, 2011
							Non-			Non-
							Guarantor			Guarantor
							Subsidiaries			Subsidiaries
				Guarantor			(100%			(Not 100%
	Parent			Subsidiaries			Owned)			Owned)			Eliminations			Consolidated
							(In thousands)
Net revenues	$	76,700		$	758,920		$	28,583		$	357,256		$	(82,110	)	$	1,139,349
Costs and expenses
Operating	—			411,161			29,053			187,125			—			627,339
Selling, general and administrative	—			124,750			4,275			63,546			—			192,571
Maintenance and utilities	—			40,484			1,937			31,767			—			74,188
Depreciation and amortization	4,028			58,101			1,529			35,414			—			99,072
Corporate expense	48,685			—			1,333			—			(24,474		)	25,544
Preopening expenses	495			(699		)	9,094			92			(5,410		)	3,572
Other operating charges, net	369			835			—			5,765			—			6,969
Total costs and expenses	53,577			634,632			47,221			323,709			(29,884		)	1,029,255
Equity in earnings of subsidiaries	30,180			(5,265		)	—			—			(24,915		)	—
Operating income (loss)	53,303			119,023			(18,638		)	33,547			(77,141		)	110,094
Other expense (income)
Interest expense, net	79,570			344			—			44,046			—			123,960
Fair value adjustment of derivative instruments	265			—			—			—			—			265
Gain on early retirements of debt	20			—			—			—			—			20
Total other expense, net	79,855			344			—			44,046			—			124,245
Income (loss) before income taxes	(26,552		)	118,679			(18,638		)	(10,499		)	(77,141		)	(14,151		)
Income taxes	20,080			(21,595		)	3,221			491			—			2,197
Net income (loss)	(6,472		)	97,084			(15,417		)	(10,008		)	(77,141		)	(11,954		)
Net loss attributable to noncontrolling interest	—			—			—			—			5,482			5,482
Net income (loss) attributable to Boyd Gaming Corporation	$	(6,472	)	$	97,084		$	(15,417	)	$	(10,008	)	$	(71,659	)	$	(6,472	)
Comprehensive income (loss)	$	1,122		$	—		$	—		$	(6,290	)	$	—		$	(5,168	)

Condensed Consolidating Statements of Cash Flows

	Six Months Ended June 30, 2012
							Non-			Non-
							Guarantor			Guarantor
							Subsidiaries			Subsidiaries
				Guarantor			(100%			(Not 100%
	Parent			Subsidiaries			Owned)			Owned)			Eliminations		Consolidated
							(In thousands)
Cash flows from operating activities
Net cash from operating activities	$	(133,564	)	$	5,981		$	205,894		$	30,462		$	—	$	108,773
Cash flows from investing activities
Capital expenditures	(22,421		)	(17,537		)	(108		)	(30,337		)	—		(70,403		)
Investment in subsidiaries	(1		)	—			—			1			—		—
Other investing activities	—			126			5			2,203			—		2,334
Net cash from investing activities	(22,422		)	(17,411		)	(103		)	(28,133		)	—		(68,069		)
Cash flows from financing activities
Borrowings under bank credit facility	488,500			—			—			354,500			—		843,000
Payments under bank credit facility	(672,450		)	—			—			(370,500		)	—		(1,042,950		)
Debt issuance costs, net	(10,246		)	—			—			—			—		(10,246		)
Proceeds from issuance of non-recourse debt	350,000			—			—			1,935			—		351,935
Other financing activities	117			(360		)	—			(501		)	—		(744		)
Net cash from financing activities	155,921			(360		)	—			(14,566		)	—		140,995
Net change in cash and cash equivalents	(65		)	(11,790		)	205,791			(12,237		)	—		181,699
Cash and cash equivalents, beginning of period	364			128,185			3,944			46,263			—		178,756
Cash and cash equivalents, end of period	$	299		$	116,395		$	209,735		$	34,026		$	—	$	360,455

Condensed Consolidating Statements of Cash Flows - continued

	Six Months Ended June 30, 2011
							Non-			Non-
							Guarantor			Guarantor
							Subsidiaries			Subsidiaries
				Guarantor			(100%			(Not 100%
	Parent			Subsidiaries			Owned)			Owned)			Eliminations		Consolidated
							(In thousands)
Cash flows from operating activities
Net cash from operating activities	$	64,350		$	7,102		$	464		$	25,652		$	—	$	97,568
Cash flows from investing activities
Capital expenditures	—			(20,563		)	(217		)	(10,094		)	—		(30,874		)
Investment in subsidiaries	787			—			—			(787		)	—		—
Other investing activities	55			—			—			168			—		223
Net cash from investing activities	842			(20,563		)	(217		)	(10,713		)	—		(30,651		)
Cash flows from financing activities
Borrowings under bank credit facility	35,920			—			—			365,700			—		401,620
Payments under bank credit facility	(35,920		)	—			—			(406,600		)	—		(442,520		)
Payments on long-term debt	—			(340		)	—			—			—		(340		)
Debt issuance costs, net	(149		)	—			—			(679		)	—		(828		)
Proceeds from issuance of non-recourse debt	—			—			—			5,250			—		5,250
Other financing activities	239			—			—			(181		)	—		58
Net cash from financing activities	90			(340		)	—			(36,510		)	—		(36,760		)
Net change in cash and cash equivalents	65,282			(13,801		)	247			(21,571		)	—		30,157
Cash and cash equivalents, beginning of period	11,232			88,281			3,679			42,431			—		145,623
Cash and cash equivalents, end of period	$	76,514		$	74,480		$	3,926		$	20,860		$	—	$	175,780