Boyd Gaming (BYD) 10-Q 9 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 05, 2017
Entity Information [Line Items]
Document Fiscal Period Focus	Q1
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Entity Registrant Name	BOYD GAMING CORP
Entity Central Index Key	906,553
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Amendment Flag	false
Entity Common Stock, Shares Outstanding		113,234,078

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 167,007	$ 193,862
Restricted cash	22,047	16,488
Accounts receivable, net	28,050	30,371
Inventories	17,965	18,568
Prepaid expenses and other current assets	47,847	46,214
Income taxes receivable	927	2,444
Total current assets	283,843	307,947
Property and equipment, net	2,633,952	2,605,169
Other assets, net	83,468	49,205
Intangible assets, net	854,342	881,954
Goodwill, net	826,291	826,476
Total assets	4,681,896	4,670,751
Current liabilities
Current maturities of long-term debt	23,983	30,336
Accounts payable	69,320	84,086
Accrued liabilities	266,986	251,082
Total current liabilities	360,289	365,504
Long-term debt, net of current maturities and debt issuance costs	3,187,544	3,199,119
Deferred income taxes	83,362	83,980
Other long-term tax liabilities	3,338	3,307
Other liabilities	61,656	84,715
Commitments and contingencies (Notes 3, 8 and 9)
Stockholders' equity
Preferred stock, $0.01 par value, 5,000,000 shares authorized	0	0
Common stock, $0.01 par value, 200,000,000 shares authorized; 113,229,078 and 112,896,377 shares outstanding	1,132	1,129
Additional paid-in capital	953,231	953,440
Retained earnings (accumulated deficit)	31,388	(19,878)
Accumulated other comprehensive loss	(44)	(615)
Total Boyd Gaming Corporation stockholders' equity	985,707	934,076
Noncontrolling interest	0	50
Total stockholders' equity	985,707	934,126
Total liabilities and stockholders' equity	$ 4,681,896	$ 4,670,751

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares outstanding	113,229,078	112,896,377
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenues
Gaming	$ 499,999	$ 462,551
Food and beverage	87,443	76,800
Room	47,326	41,875
Other	34,038	31,466
Gross revenues	668,806	612,692
Less promotional allowances	63,464	60,314
Net revenues	605,342	552,378
Operating costs and expenses
Gaming	231,631	223,525
Food and beverage	49,518	41,803
Room	13,114	10,499
Other	19,979	19,332
Selling, general and administrative	91,613	81,851
Maintenance and utilities	26,399	23,848
Depreciation and amortization	53,964	47,653
Corporate expense	20,798	17,907
Project development, preopening and writedowns	2,972	1,841
Impairments of assets	0	1,440
Other operating items, net	486	429
Total operating costs and expenses	510,474	470,128
Operating income	94,868	82,250
Other expense (income)
Interest income	(460)	(497)
Interest expense, net of amounts capitalized	43,674	53,065
Loss on early extinguishments and modifications of debt	156	427
Other, net	111	77
Total other expense, net	43,481	53,072
Income from continuing operations before income taxes	51,387	29,178
Income tax provision	(16,273)	(7,618)
Income from continuing operations, net of tax	35,114	21,560
Income from discontinued operations, net of tax	(375)	(11,630)
Net income	$ 35,489	$ 33,190
Continuing operations	$ 0.31	$ 0.19
Discontinued operations	0	0.10
Basic net income per common share	$ 0.31	$ 0.29
Weighted average basic shares outstanding	115,269	114,109
Continuing operations	$ 0.31	$ 0.19
Discontinued operations	0	0.10
Diluted net income per common share	$ 0.31	$ 0.29
Weighted average diluted shares outstanding	115,902	114,868

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net income	$ 35,489	$ 33,190
Other comprehensive income, net of tax:
Fair value adjustments to available-for-sale securities, net of tax	571	522
Comprehensive income attributable to Boyd Gaming Corporation	$ 36,060	$ 33,712

Condensed Consolidated Stateme6

Condensed Consolidated Statement of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Income (Loss), Net	Noncontrolling Interest
Balances at Dec. 31, 2015	$ 508,011	$ 1,117	$ 945,041	$ (437,881)	$ (316)	$ 50
Balance, shares at Dec. 31, 2015		111,614,420
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	33,190	$ 0	0	33,190	0	0
Comprehensive income attributable to Boyd	522	$ 0	0	0	522	0
Stock options exercised		53,013
Stock options exercised	321	$ 0	321	0	0	0
Release of restricted stock units, net of tax		163,843
Release of restricted stock units, net of tax	(840)	$ 2	(842)	0	0	0
Release of performance stock units, net of tax		159,027
Stock Issued During Period, Value, Performance Stock Award, Net of Forfeitures	(868)	$ 1	(869)	0	0	0
Share-based compensation costs	3,263	0	3,263	0	0	0
Balances at Mar. 31, 2016	543,599	$ 1,120	946,914	(404,691)	206	50
Balance, shares at Mar. 31, 2016		111,990,303
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income	15,777			15,777
Balances at Dec. 31, 2016	$ 934,126	$ 1,129	953,440	(19,878)	(615)	50
Balance, shares at Dec. 31, 2016	112,896,377	112,896,377
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 35,489	$ 0	537	35,489	0	0
Other Comprehensive Income (Loss), Net of Tax	571	$ 0	0	0	571	0
Comprehensive income attributable to Boyd	571
Stock options exercised		16,050
Stock options exercised	127	$ 0	127	0	0	0
Release of restricted stock units, net of tax		142,998
Release of restricted stock units, net of tax	(2,162)	$ 1	(2,163)	0	0	0
Release of performance stock units, net of tax		173,653
Stock Issued During Period, Value, Performance Stock Award, Net of Forfeitures	(1,791)	$ 2	(1,793)	0	0	0
Share-based compensation costs	3,083	0	3,083	0	0	0
Balances at Mar. 31, 2017	$ 985,707	$ 1,132	$ 953,231	$ 31,388	$ (44)	0
Balance, shares at Mar. 31, 2017	113,229,078	113,229,078
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Noncontrolling Interest, Decrease from Deconsolidation	$ 487					$ (50)

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash Flows from Operating Activities
Net income	$ 35,489	$ 33,190
Adjustments to reconcile net income to net cash provided by operating activities:
Income from discontinued operations, net of tax	(375)	(11,630)
Depreciation and amortization	53,964	47,653
Amortization of debt financing costs and discounts on debt	2,213	4,594
Share-based compensation expense	3,083	3,263
Deferred income taxes	15,159	6,519
Impairments of assets	0	1,440
Loss on early extinguishments and modifications of debt	156	427
Other operating activities	766	486
Changes in operating assets and liabilities:
Restricted cash	(5,560)	(3,345)
Accounts receivable, net	2,185	1,330
Inventories	606	326
Prepaid expenses and other current assets	(1,633)	2,890
Income taxes receivable	1,517	824
Other assets, net	(217)	(654)
Accounts payable and accrued liabilities	4,921	(9,991)
Other long-term tax liabilities	31	64
Other liabilities	(260)	2,990
Net cash provided by operating activities	112,045	80,376
Cash Flows from Investing Activities
Capital expenditures	(80,038)	(35,297)
Advances pursuant to development agreement	(35,108)	0
Other investing activities	44	5
Net cash used in investing activities	(115,102)	(35,292)
Cash Flows from Financing Activities
Borrowings under Boyd Gaming bank credit facility	256,700	223,900
Payments under Boyd Gaming bank credit facility	(275,063)	(530,350)
Borrowings under Peninsula bank credit facility	0	95,200
Payments under Peninsula bank credit facility	0	(114,725)
Proceeds from issuance of senior notes	0	750,000
Debt financing costs, net	(1,889)	(12,996)
Share-based compensation activities, net	(3,826)	(1,387)
Other financing activities	(95)	0
Net cash provided by (used in) financing activities	(24,173)	409,642
Cash Flows from Discontinued Operations
Cash flows from operating activities	(255)	2,654
Cash flows from investing activities	630	0
Cash flows from financing activities	0	0
Net cash provided by discontinued operations	375	2,654
Change in cash and cash equivalents	(26,855)	457,380
Cash and cash equivalents, beginning of period	193,862	158,821
Cash and cash equivalents, end of period	167,007	616,201
Supplemental Disclosure of Cash Flow Information
Cash paid for interest, net of amounts capitalized	29,851	50,600
Cash paid (received) for income taxes, net of refunds	(2)	204
Supplemental Schedule of Noncash Investing and Financing Activities
Payables incurred for capital expenditures	$ 5,634	$ 6,610

Organization and Basis of Prese

Organization and Basis of Presentation	3 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	ORGANIZATION AND BASIS OF PRESENTATION Organization Boyd Gaming Corporation (and together with its subsidiaries, the "Company," "Boyd Gaming," "we" or "us") was incorporated in the state of Nevada in 1988 and has been operating since 1975. The Company's common stock is traded on the New York Stock Exchange under the symbol "BYD." We are a diversified operator of 24 wholly owned gaming entertainment properties. Headquartered in Las Vegas, we have gaming operations in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi. Basis of Presentation The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with the instructions to the Quarterly Report on Form 10-Q and Article 10 of Regulation S-X and, therefore, do not include all information and footnote disclosures necessary for complete financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP"). These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2016 , as filed with the U.S. Securities and Exchange Commission ("SEC") on February 23, 2017 . The results for the periods indicated are unaudited, but reflect all adjustments (consisting only of normal recurring adjustments) that management considers necessary for a fair presentation of financial position, results of operations and cash flows. Results of operations and cash flows for the interim periods presented herein are not necessarily indicative of the results that would be achieved during a full year of operations or in future periods. The accompanying condensed consolidated financial statements include the accounts of Boyd Gaming and its wholly owned subsidiaries. Investments in unconsolidated affiliates, which do not meet the consolidation criteria of the authoritative accounting guidance for voting interest, controlling interest or variable interest entities, are accounted for under the equity method. All significant intercompany accounts and transactions have been eliminated in consolidation. On May 31, 2016, we announced that we had entered into an Equity Purchase Agreement (the "Purchase Agreement") to sell our 50% equity interest in Marina District Development Holding Company, LLC ("MDDHC"), the parent company of Borgata Hotel Casino & Spa ("Borgata"), to MGM Resorts International ("MGM"), and the transaction closed on August 1, 2016. (See Note 3, Acquisitions and Divestitures .) We account for our investment in Borgata applying the equity method and report its results as discontinued operations for all periods presented in these condensed consolidated financial statements. Revisions The financial information for the three months ended March 31, 2016 is derived from our condensed consolidated financial statements and footnotes included in the Quarterly Report on Form 10-Q for the quarter ended March 31, 2016 and has been revised to reflect the results of operations and cash flows of our equity investment in Borgata as discontinued operations. (See Note 3, Acquisitions and Divestitures. )

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Cash and Cash Equivalents Cash and cash equivalents include highly liquid investments, which include cash on hand and in banks, interest-bearing deposits and money market funds with maturities of three months or less at their date of purchase. The instruments are not restricted as to withdrawal or use and are on deposit with high credit quality financial institutions. Although these balances may at times exceed the federal insured deposit limit, we believe such risk is mitigated by the quality of the institution holding such deposit. The carrying values of these instruments approximate their fair values as such balances are generally available on demand. Promotional Allowances The retail value of accommodations, food and beverage, and other services furnished to guests without charge is included in gross revenues and then deducted as a promotional allowance. Promotional allowances also include incentives earned in our slot bonus program such as cash and the estimated retail value of goods and services (such as complimentary rooms and food and beverages). We reward customers, through the use of bonus programs, with points based on amounts wagered that can be redeemed for a specified period of time for complimentary slot play, food and beverage, and to a lesser extent for other goods or services, depending upon the property. The amounts included in promotional allowances are as follows: Three Months Ended March 31, (In thousands) 2017 2016 Rooms $ 18,477 $ 18,945 Food and beverage 42,067 37,452 Other 2,920 3,917 Total promotional allowances $ 63,464 $ 60,314 The estimated costs of providing such promotional allowances are as follows: Three Months Ended March 31, (In thousands) 2017 2016 Rooms $ 8,359 $ 8,569 Food and beverage 37,622 33,271 Other 3,808 2,981 Total estimated cost of promotional allowances $ 49,789 $ 44,821 Gaming Taxes We are subject to taxes based on gross gaming revenues in the jurisdictions in which we operate. These gaming taxes are assessed based on our gaming revenues and are recorded as a gaming expense in the condensed consolidated statements of operations. These taxes totaled approximately $83.2 million and $82.6 million for the three months ended March 31, 2017 and 2016 , respectively. Income Taxes Income taxes are recorded under the asset and liability method, whereby deferred tax assets and liabilities are recognized based on the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. We reduce the carrying amounts of deferred tax assets by a valuation allowance, if based on all evidence, it is more likely than not that such assets will not be realized. Use of the term "more likely than not" indicates the likelihood of occurrence is greater than 50%. Accordingly, the need to establish valuation allowances for deferred tax assets is continually assessed based on a more-likely-than-not realization threshold. This assessment considers, among other matters, the nature, frequency and severity of current and cumulative losses, forecasts of profitability, the duration of statutory carryforward periods, our experience with the utilization of operating loss and tax credit carryforwards before expiration and tax planning strategies. In making such judgments, significant weight is given to evidence that can be objectively verified. For the three months ended March 31, 2017 , we computed our provision by applying the annual effective tax rate method. For the three months ended March 31, 2016 , we computed our provision for income taxes by applying the actual effective tax rate, under the discrete method, to year-to-date income. The discrete method was used to calculate our income tax provision as the annual effective tax rate was not considered a reliable estimate of year-to-date income tax expense. Other Long Term Tax Liabilities The Company's income tax returns are subject to examination by the Internal Revenue Service ("IRS") and other tax authorities in the locations where it operates. The Company assesses potentially unfavorable outcomes of such examinations based on accounting standards for uncertain income taxes, which prescribe a minimum recognition threshold a tax position is required to meet before being recognized in the financial statements. Uncertain tax position accounting standards apply to all tax positions related to income taxes. These accounting standards utilize a two-step approach for evaluating tax positions. Recognition occurs when the Company concludes that a tax position, based on its technical merits, is more likely than not to be sustained upon examination. Measurement is only addressed if the position is deemed to be more likely than not to be sustained. The tax benefit is measured as the largest amount of benefit that is more likely than not to be realized upon settlement. Tax positions failing to qualify for initial recognition are recognized in the first subsequent interim period that they meet the "more likely than not" standard. If it is subsequently determined that a previously recognized tax position no longer meets the "more likely than not" standard, it is required that the tax position is derecognized. Accounting standards for uncertain tax positions specifically prohibit the use of a valuation allowance as a substitute for derecognition of tax positions. As applicable, the Company will recognize accrued penalties and interest related to unrecognized tax benefits in the provision for income taxes. Accrued interest and penalties are included in other long-term tax liabilities on the balance sheet. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Change in Accounting Principle In first quarter 2017, the Company adopted Accounting Standards Update 2016-09, Compensation - Stock Compensation ("Update 2016-09") which simplified several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. Update 2016-09 requires excess tax benefits and deficiencies to be recorded in income tax expense instead of equity. The cumulative effect of this change in accounting principle is to record the benefit of previously unrecognized excess tax deductions as an increase in retained earnings of $15.8 million on the condensed consolidated statement of changes in stockholders' equity for the three months ended March 31, 2017. Recently Issued Accounting Pronouncements Accounting Standards Update 2017-04, Intangibles-Goodwill and Other ("Update 2017-04") In January 2017, the Financial Accounting Standards Board ("FASB") issued Update 2017-04, which addresses goodwill impairment testing. Instead of determining goodwill impairment by calculating the implied fair value of goodwill, an entity should perform goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. The standard is effective for financial statements issued for annual periods and interim periods within those annual periods, beginning after December 15, 2019, and early adoption is permitted. The Company adopted Update 2017-04 effective January 1, 2017. The early adoption did not have an impact on our condensed consolidated financial statements. A variety of proposed or otherwise potential accounting standards are currently being studied by standard-setting organizations and certain regulatory agencies. Because of the tentative and preliminary nature of such proposed standards, we have not yet determined the effect, if any, that the implementation of such proposed standards would have on our consolidated financial statements.

Acquisitions and Divestitures

Acquisitions and Divestitures	3 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Acquisitions and Divestitures	ACQUISITIONS AND DIVESTITURES Aliante Casino + Hotel + Spa On September 27, 2016, Boyd Gaming completed the acquisition of ALST Casino Holdco LLC, the holding company of Aliante Casino + Hotel + Spa ("Aliante"). Pursuant to the merger agreement, Merger Sub merged (the "Merger") with and into ALST, with ALST surviving the Merger. ALST and Aliante are now wholly-owned subsidiaries of Boyd Gaming. Accordingly, the acquired assets and liabilities of Aliante are included in our consolidated balance sheets as of March 31, 2017 and December 31, 2016 and the results of its operations and cash flows are reported in our consolidated statements of operations and cash flows for the three months ended March 31, 2017. Aliante is an upscale, resort-style casino and hotel situated in North Las Vegas and offering premium accommodations, gaming, dining, entertainment and retail, and is aggregated into our Las Vegas Locals segment (See Note 11, Segment Information.) Cannery Casino Hotel and Nevada Palace, LLC On December 20, 2016, Boyd Gaming completed the acquisitions of Cannery, the owner and operator of Cannery Casino Hotel, and Eastside Cannery, the owner and operator of Eastside Cannery Casino and Hotel, pursuant to a Membership Interest Purchase Agreement (the “Purchase Agreement”) dated as of April 25, 2016, as amended on October 28, 2016, by and among Boyd, Cannery Casino Resorts, LLC (“Seller”), Cannery and Eastside Cannery. Pursuant to the terms of the Purchase Agreement, Boyd acquired from Seller all of the issued and outstanding membership interests of Cannery and Eastside Cannery (the “Acquisitions”). With the closing of the Acquisitions, each of Cannery and Eastside Cannery became wholly-owned subsidiaries of Boyd. Accordingly, the acquired assets and liabilities of Cannery and Eastside Cannery are included in our consolidated balance sheets as of March 31, 2017 and December 31, 2016 and the results of its operations and cash flows are reported in our consolidated statements of operations and cash flows for the three months ended March 31, 2017. The Cannery and Eastside Cannery are modern casinos and hotels in the Las Vegas Valley that offer premium accommodations, gaming, dining, entertainment and retail, and are aggregated into our Las Vegas Locals segment (See Note 11, Segment Information.) Status of Purchase Price Allocation The Company is following the acquisition method of accounting per ASC 805 guidance. For purposes of these financial statements, we have allocated the purchase price to the assets acquired and the liabilities assumed based on preliminary estimates of fair value as determined by management based on its judgment with assistance from preliminary third party appraisals. The excess of the purchase price over the net book value of the assets acquired and liabilities assumed has been recorded as goodwill. The Company will recognize the assets acquired and liabilities assumed in the Acquisitions based on fair value estimates as of the date of the Acquisitions. The determination of the fair values of the acquired assets and assumed liabilities (and the related determination of estimated lives of depreciable tangible and identifiable intangible assets) is currently in process. This determination requires significant judgment. As such, management has not completed its valuation analysis and calculations in sufficient detail necessary to finalize the determination of the fair value of the assets acquired and liabilities assumed, along with the related allocations of goodwill and intangible assets. The final fair value determinations are expected to be completed no later than third quarter of 2017. The final fair value determinations may be significantly different than those reflected in the consolidated financial statements at March 31, 2017 and December 31, 2016. Investment in and Divestiture of Borgata On August 1, 2016, Boyd Gaming completed the sale of its 50% equity interest in MDDHC, the parent company of Borgata in Atlantic City, New Jersey, to MGM pursuant to the Purchase Agreement entered into on May 31, 2016, as amended on July 19, 2016, by and among Boyd, Boyd Atlantic City, Inc., a wholly-owned subsidiary of Boyd and MGM. Prior to the sale of our equity interest, the Company and MGM each held a 50% interest in MDDHC, which owns all the equity interests in Borgata. Until the closing of the sale, we were the managing member of MDDHC, and we were responsible for the day-to-day operations of Borgata. Pursuant to the Purchase Agreement, MGM acquired from Boyd Gaming 49% of its 50% membership interest in MDDHC and, immediately thereafter, MDDHC redeemed Boyd Gaming’s remaining 1% membership interest in MDDHC (collectively, the "Transaction"). Following the Transaction, MDDHC became a wholly-owned subsidiary of MGM. In consideration for the Transaction, MGM paid Boyd Gaming $900 million . The initial net cash proceeds were approximately $589 million , net of certain expenses and adjustments on the closing date, including outstanding indebtedness, cash and working capital. These initial proceeds did not include our 50% share of any future property tax settlement benefits, from the time period during which we held a 50% ownership in MDDHC, to which Boyd Gaming retains the right to receive upon payment. During first quarter 2017, we recognized $0.6 million in income for the cash we received for our share of property tax benefits realized by Borgata subsequent to the closing of the sale. On February 15, 2017, Borgata entered into a settlement agreement with Atlantic City to resolve the property tax issues. Per the settlement agreement, Borgata is to receive $72 million , comprised of a $52 million payment on or before July 31, 2017 and a $20 million payment to be received on or before October 1, 2017. We will recognize our share of these payments as income from discontinued operations when received. Summarized income statement information for Borgata is as follows: Three Months Ended March 31, (In thousands) 2016 Net revenues $ 190,293 Operating expenses 152,620 Operating income 37,673 Non-operating expenses 14,412 Net income $ 23,261

Property and Equipment, Net

Property and Equipment, Net	3 Months Ended
	Mar. 31, 2017
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	PROPERTY AND EQUIPMENT, NET Property and equipment, net consists of the following: March 31, December 31, (In thousands) 2017 2016 Land $ 284,592 $ 251,316 Buildings and improvements 2,774,162 2,915,664 Furniture and equipment 1,440,104 1,243,724 Riverboats and barges 239,285 239,264 Construction in progress 75,668 86,226 Other 725 726 Total property and equipment 4,814,536 4,736,920 Less accumulated depreciation 2,180,584 2,131,751 Property and equipment, net $ 2,633,952 $ 2,605,169 Other property and equipment presented in the table above relates to the estimated net realizable value of construction materials inventory that was not disposed of with the 2013 sale of the Echelon development project. Such assets are not in service and are not currently being depreciated. Depreciation expense is as follows: Three Months Ended March 31, (In thousands) 2017 2016 Depreciation expense $ 49,394 $ 43,556

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2017
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible Assets	INTANGIBLE ASSETS Intangible assets consist of the following: March 31, 2017 Weighted Gross Cumulative Average Life Carrying Cumulative Impairment Intangible (In thousands) Remaining Value Amortization Losses Assets, Net Amortizing intangibles Customer relationships 0.9 years $ 144,780 $ (129,426 ) $ — $ 15,354 Favorable lease rates 38.8 years 11,730 (2,903 ) — 8,827 Development agreement — 21,373 — — 21,373 177,883 (132,329 ) — 45,554 Indefinite lived intangible assets Trademarks Indefinite 153,687 — (4,300 ) 149,387 Gaming license rights Indefinite 873,335 (33,960 ) (179,974 ) 659,401 1,027,022 (33,960 ) (184,274 ) 808,788 Balance, March 31, 2017 $ 1,204,905 $ (166,289 ) $ (184,274 ) $ 854,342 December 31, 2016 Weighted Gross Cumulative Average Life Carrying Cumulative Impairment Intangible (In thousands) Remaining Value Amortization Losses Assets, Net Amortizing intangibles Customer relationships 1.1 years $ 144,780 $ (125,318 ) $ — $ 19,462 Favorable lease rates 31.4 years 45,370 (13,039 ) — 32,331 Development agreement — 21,373 — — 21,373 211,523 (138,357 ) — 73,166 Indefinite lived intangible assets Trademarks Indefinite 153,687 — (4,300 ) 149,387 Gaming license rights Indefinite 873,335 (33,960 ) (179,974 ) 659,401 1,027,022 (33,960 ) (184,274 ) 808,788 Balance, December 31, 2016 $ 1,238,545 $ (172,317 ) $ (184,274 ) $ 881,954 In March 2017, The Orleans Hotel and Casino exercised an option in its lease agreement to purchase the land and terminate the existing lease, therefore combining the remaining unamortized favorable lease rate asset into the cost of the land asset.

Accrued Liabilities

Accrued Liabilities	3 Months Ended
	Mar. 31, 2017
Payables and Accruals [Abstract]
Accrued Liabilities	ACCRUED LIABILITIES Accrued liabilities consist of the following: March 31, December 31, (In thousands) 2017 2016 Payroll and related expenses $ 64,589 $ 68,102 Interest 44,198 33,407 Gaming liabilities 40,835 41,942 Player loyalty program liabilities 18,417 19,076 Other accrued liabilities 98,947 88,555 Total accrued liabilities $ 266,986 $ 251,082

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Long-Term Debt	LONG-TERM DEBT Long-term debt, net of current maturities consists of the following: March 31, 2017 Interest Unamortized Rates at Outstanding Unamortized Origination Long-Term (In thousands) Mar. 31, 2017 Principal Discount Fees and Costs Debt, Net Bank credit facility 3.05 % $ 1,764,175 $ (1,791 ) $ (28,772 ) $ 1,733,612 6.875% senior notes due 2023 6.88 % 750,000 — (11,860 ) 738,140 6.375% senior notes due 2026 6.38 % 750,000 — (10,771 ) 739,229 Other 5.80 % 546 — — 546 Total long-term debt 3,264,721 (1,791 ) (51,403 ) 3,211,527 Less current maturities 23,983 — — 23,983 Long-term debt, net $ 3,240,738 $ (1,791 ) $ (51,403 ) $ 3,187,544 December 31, 2016 Interest Unamortized Rates at Outstanding Unamortized Origination Long-Term (In thousands) Dec. 31, 2016 Principal Discount Fees and Costs Debt, Net Bank credit facility 3.44 % $ 1,782,538 $ (1,888 ) $ (28,503 ) $ 1,752,147 6.875% senior notes due 2023 6.88 % 750,000 — (11,209 ) 738,791 6.375% senior notes due 2026 6.38 % 750,000 — (12,074 ) 737,926 Other 5.80 % 591 — — 591 Total long-term debt 3,283,129 (1,888 ) (51,786 ) 3,229,455 Less current maturities 30,336 — — 30,336 Long-term debt, net $ 3,252,793 $ (1,888 ) $ (51,786 ) $ 3,199,119 Boyd Gaming Debt Credit Facility On March 29, 2017, the Company, as borrower, entered into Amendment No. 2 and Refinancing Amendment (the "Refinancing Amendment") with the lenders party thereto, and Bank of America, N.A. ("Bank of America"), as administrative agent. The Refinancing Amendment modifies the Third Amended and Restated Credit Agreement (as amended prior to the execution of the Refinancing Amendment, the "Existing Credit Agreement"), dated as of August 14, 2013, among the Company, certain financial institutions, and Bank of America, as administrative agent. The Refinancing Amendment modified the Existing Credit Agreement and is referred to as the "Amended Credit Agreement" (together referred to as the "Credit Facility"). The Amended Credit Agreement provides for (i) commitments to make Term B Loans in an amount equal to $1,264.5 million (the "Refinancing Term B Loans"), with the proceeds used to refinance in full the Company’s Term B-1 Loans and Term B-2 Loans outstanding under the Existing Credit Agreement and (ii) certain other amendments to the Existing Credit Agreement. Interest and Fees The interest rate on the outstanding balance of the Refinancing Term B Loans under the Amended Credit Agreement is based upon, at the Company’s option, either: (i) the Eurodollar rate or (ii) the base rate, in each case, plus an applicable margin. Such applicable margin is a percentage per annum determined in accordance with the Company’s secured leverage ratio and ranges from 2.25% to 2.50% (if using the Eurodollar rate) and from 1.25% to 1.50% (if using the base rate). Optional and Mandatory Prepayments The Company shall make repayments of the Refinancing Term B Loans on or before the last business day of each fiscal quarter of the Company commencing with the first full fiscal quarter of the Company after the Refinancing Effective Date in an amount equal to (x) 0.25% of the aggregate principal amount of the Refinancing Term B Loans plus (y) 0.25% of the aggregate principal amount of any increased Refinancing Term B Loan, as defined in the Existing Credit Agreement. The Company shall repay the outstanding principal amount of all Refinancing Term B Loans on the maturity date for the Refinancing Term B Loans, which shall be September 15, 2023. Amounts outstanding under the Refinancing Amendment may be prepaid without premium or penalty, and the commitments may be terminated without penalty, subject to certain exceptions, including a 1.00% prepayment premium for any full or partial prepayment of the Refinancing Term B Loans effected prior to the six-month anniversary of the Refinancing Effective Date that results in a lower interest rate. The outstanding principal amounts under the Credit Facility are comprised of the following: March 31, December 31, (In thousands) 2017 2016 Revolving Credit Facility $ 240,000 $ 245,000 Term A Loan 219,375 222,188 Refinancing Term B Loans 1,264,500 — Term B-1 Loan — 271,750 Term B-2 Loan — 997,500 Swing Loan 40,300 46,100 Total outstanding principal amounts under the Credit Facility $ 1,764,175 $ 1,782,538 At March 31, 2017 , approximately $1.8 billion was outstanding under the Credit Facility and $12.5 million was allocated to support various letters of credit, leaving remaining contractual availability of $482.2 million . Covenant Compliance As of March 31, 2017 , we believe that we were in compliance with the financial and other covenants of our debt instruments. On March 7, 2017, Aliante, Cannery and Eastside Cannery became guarantors of the 6.875% senior notes due May 2023 (" 6.875% Notes"), the 6.375% senior notes due April 2026 ("6.375% Notes") (together with the 6.875% Notes, the "Senior Notes") and the Credit Agreement.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Commitments There have been no material changes to our commitments described under Note 9, Commitments and Contingencies , in our Annual Report on Form 10-K for the year ended December 31, 2016 filed with the SEC on February 23, 2017 . Contingencies Legal Matters We are parties to various legal proceedings arising in the ordinary course of business. In our opinion, all pending legal matters are either adequately covered by insurance, or, if not insured, will not have a material adverse impact on our financial position, results of operations or cash flows.

Stockholders' Equity and Stock

Stockholders' Equity and Stock Incentive Plans	3 Months Ended
	Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stockholders' Equity and Stock Incentive Plans	STOCKHOLDERS' EQUITY AND STOCK INCENTIVE PLANS Share Repurchase Program On May 2, 2017, the Company announced that its Board of Directors had reaffirmed the Company’s existing share repurchase program, which has $92 million remaining. The Company intends to make purchases of its common stock from time to time under this program through open market purchases, privately negotiated transactions, tender offers, exchange offers, redemptions or otherwise, upon such terms and at such prices as we may determine. Dividends On May 2, 2017, the Company announced that its Board of Directors has authorized the reinstatement of the Company’s cash dividend program and has declared a quarterly dividend of $0.05 per share, to be paid July 15, 2017, to shareholders of record as of June 15, 2017. Share-Based Compensation We account for share-based awards exchanged for employee services in accordance with the authoritative accounting guidance for share-based payments. Under the guidance, share-based compensation expense is measured at the grant date, based on the estimated fair value of the award, and is recognized as expense, net of estimated forfeitures, over the employee's requisite service period. The following table provides classification detail of the total costs related to our share-based employee compensation plans reported in our condensed consolidated statements of operations. Three Months Ended March 31, (In thousands) 2017 2016 Gaming $ 70 $ 85 Food and beverage 13 16 Room 6 8 Selling, general and administrative 358 432 Corporate expense 2,636 2,722 Total share-based compensation expense $ 3,083 $ 3,263 Performance Shares Vesting The Performance Share Unit ("PSU") grants awarded in fourth quarter 2013 and 2012 vested during first quarter 2017 and 2016, respectively. Common shares were issued based on the determination by the Compensation Committee of the Board of Directors of our actual achievement of net revenue growth, Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA") growth and customer service scores for the three-year performance period of each grant. As provided under the provisions of our stock incentive plan, certain of the participants elected to surrender a portion of the shares to be received to pay the withholding and other payroll taxes payable on the compensation resulting from the vesting of the PSUs. The PSU grant awarded in November 2013 resulted in a total of 268,429 shares being issued during first quarter 2017, representing approximately 0.80 shares per PSU. Of the 268,429 shares issued, a total of 94,776 were surrendered by the participants for payroll taxes, resulting a net issuance of 173,653 shares due to the vesting of the 2013 grant. The actual achievement level under the award metrics equaled the estimated performance as of year-end 2016; therefore, the vesting of the PSUs did not impact compensation costs in our 2017 condensed consolidated statement of operations. The PSU grant awarded in December 2012 resulted in a total of 213,365 shares being issued during first quarter 2016, representing approximately 0.59 shares per PSU. Of the 213,365 shares issued, a total of 54,338 were surrendered by the participants for payroll taxes, resulting a net issuance of 159,027 shares due to the vesting of the 2012 grant. The actual achievement level under the award metrics equaled the estimated performance as of year-end 2015; therefore, the vesting of the PSUs did not impact compensation costs in our 2016 condensed consolidated statement of operations.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS The authoritative accounting guidance for fair value measurements specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company's market assumptions. These inputs create the following fair value hierarchy: Level 1 : Quoted prices for identical instruments in active markets. Level 2 : Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. Level 3 : Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Thus, assets and liabilities categorized as Level 3 may be measured at fair value using inputs that are observable (Levels 1 and 2) and unobservable (Level 3). Management's assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of assets and liabilities and their placement within the fair value hierarchy levels. Balances Measured at Fair Value The following tables show the fair values of certain of our financial instruments: March 31, 2017 (In thousands) Balance Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 167,007 $ 167,007 $ — $ — Restricted cash 22,047 22,047 — — Investment available for sale 17,865 — — 17,865 Liabilities Contingent payments $ 3,348 $ — $ — $ 3,348 December 31, 2016 (In thousands) Balance Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 193,862 $ 193,862 $ — $ — Restricted cash 16,488 16,488 — — Investment available for sale 17,259 — — 17,259 Liabilities Contingent payments $ 3,038 $ — $ — $ 3,038 Cash and Cash Equivalents and Restricted Cash The fair value of our cash and cash equivalents and restricted cash, classified in the fair value hierarchy as Level 1, are based on statements received from our banks at March 31, 2017 and December 31, 2016 . Investment Available for Sale We have an investment in a single municipal bond issuance of $21.0 million aggregate principal amount of 7.5% Urban Renewal Tax Increment Revenue Bonds, Taxable Series 2007 that is classified as available for sale. We are the only holder of this instrument and there is no quoted market price for this instrument. As such, the fair value of this investment is classified as Level 3 in the fair value hierarchy. The fair value of the instrument is estimated using a discounted cash flows approach and the significant unobservable input used in the valuation at March 31, 2017 and December 31, 2016 is a discount rate of 10.1% and 10.3% , respectively. Unrealized gains and losses on this instrument resulting from changes in the fair value of the instrument are not charged to earnings, but rather are recorded as other comprehensive income (loss) in the stockholders' equity section of the condensed consolidated balance sheets. At both March 31, 2017 and December 31, 2016 , $0.4 million of the carrying value of the investment available for sale is included as a current asset in prepaid expenses and other current assets, and at March 31, 2017 and December 31, 2016 , $17.5 million and $16.8 million , respectively, is included in other assets on the condensed consolidated balance sheets. The discount associated with this investment of $3.1 million at both March 31, 2017 and December 31, 2016 , is netted with the investment balance and is being accreted over the life of the investment using the effective interest method. The accretion of such discount is included in interest income on the condensed consolidated statements of operations. Contingent Payments In connection with the development of the Kansas Star Casino ("Kansas Star"), Kansas Star agreed to pay a former casino project promoter 1% of Kansas Star's EBITDA each month for a period of ten years commencing on December 20, 2011. The liability is recorded at the estimated fair value of the contingent payments using a discounted cash flows approach and the significant unobservable input used in the valuation at March 31, 2017 and December 31, 2016 , is a discount rate of 9.3% and 18.5% , respectively. At March 31, 2017 and December 31, 2016 , there was a current liability of $0.8 million and $0.9 million , respectively, related to this agreement, which is recorded in accrued liabilities on the respective condensed consolidated balance sheets, and long-term obligation at March 31, 2017 and December 31, 2016 , of $2.5 million and $2.2 million , respectively, which is included in other liabilities on the respective condensed consolidated balance sheets. The following table summarizes the changes in fair value of the Company's Level 3 assets and liabilities: Three Months Ended March 31, 2017 March 31, 2016 Assets Liability Assets Liability (In thousands) Investment Available for Sale Contingent Payments Investment Available for Sale Contingent Payments Balance at beginning of reporting period $ 17,259 $ (3,038 ) $ 17,839 $ (3,632 ) Total gains (losses) (realized or unrealized): Included in interest income (expense) 35 (129 ) 33 (154 ) Included in other comprehensive income 571 — 522 — Included in other items, net — (391 ) — — Purchases, sales, issuances and settlements: Settlements — 210 — 226 Balance at end of reporting period $ 17,865 $ (3,348 ) $ 18,394 $ (3,560 ) Balances Disclosed at Fair Value The following tables provide the fair value measurement information about our obligation under minimum assessment agreements and other financial instruments: March 31, 2017 (In thousands) Outstanding Face Amount Carrying Value Estimated Fair Value Fair Value Hierarchy Liabilities Obligation under assessment arrangements $ 32,973 $ 26,345 $ 27,002 Level 3 Other financial instruments 10 9 9 Level 3 December 31, 2016 (In thousands) Outstanding Face Amount Carrying Value Estimated Fair Value Fair Value Hierarchy Liabilities Obligation under assessment arrangements $ 33,456 $ 26,660 $ 27,054 Level 3 Other financial instruments 100 97 97 Level 3 The following tables provide the fair value measurement information about our long-term debt: March 31, 2017 (In thousands) Outstanding Face Amount Carrying Value Estimated Fair Value Fair Value Hierarchy Credit Facility $ 1,764,175 $ 1,733,612 $ 1,771,530 Level 2 6.875% senior notes due 2023 750,000 738,140 808,125 Level 1 6.375% senior notes due 2026 750,000 739,229 801,563 Level 1 Other 546 546 546 Level 3 Total debt $ 3,264,721 $ 3,211,527 $ 3,381,764 December 31, 2016 (In thousands) Outstanding Face Amount Carrying Value Estimated Fair Value Fair Value Hierarchy Credit Facility $ 1,782,538 $ 1,752,147 $ 1,791,853 Level 2 6.875% senior notes due 2023 750,000 738,791 806,250 Level 1 6.375% senior notes due 2026 750,000 737,926 804,375 Level 1 Other 591 591 591 Level 3 Total debt $ 3,283,129 $ 3,229,455 $ 3,403,069 The estimated fair value of our Credit Facility is based on a relative value analysis performed on or about March 31, 2017 and December 31, 2016 . The estimated fair values of our Senior Notes are based on quoted market prices as of March 31, 2017 and December 31, 2016 . The other debt is a fixed-rate debt that is payable in 32 semi-annual installments, beginning in 2008. It is not traded and does not have an observable market input; therefore, we have estimated its fair value to be equal to the carrying value. There were no transfers between Level 1, Level 2 and Level 3 measurements during the three months ended March 31, 2017 or 2016 .

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION We have aggregated certain of our properties in order to present three Reportable Segments: (i) Las Vegas Locals; (ii) Downtown Las Vegas; and (iii) Midwest and South. The table below lists the classification of each of our properties. Las Vegas Locals Gold Coast Hotel and Casino Las Vegas, Nevada The Orleans Hotel and Casino Las Vegas, Nevada Sam's Town Hotel and Gambling Hall Las Vegas, Nevada Suncoast Hotel and Casino Las Vegas, Nevada Eastside Cannery Casino and Hotel Las Vegas, Nevada Aliante Casino + Hotel + Spa North Las Vegas, Nevada Cannery Casino Hotel North Las Vegas, Nevada Eldorado Casino Henderson, Nevada Jokers Wild Casino Henderson, Nevada Downtown Las Vegas California Hotel and Casino Las Vegas, Nevada Fremont Hotel and Casino Las Vegas, Nevada Main Street Station Casino, Brewery and Hotel Las Vegas, Nevada Midwest and South Par-A-Dice Hotel Casino East Peoria, Illinois Blue Chip Casino, Hotel & Spa Michigan City, Indiana Diamond Jo Dubuque Dubuque, Iowa Diamond Jo Worth Northwood, Iowa Kansas Star Casino Mulvane, Kansas Amelia Belle Casino Amelia, Louisiana Delta Downs Racetrack Casino & Hotel Vinton, Louisiana Evangeline Downs Racetrack and Casino Opelousas, Louisiana Sam's Town Hotel and Casino Shreveport, Louisiana Treasure Chest Casino Kenner, Louisiana IP Casino Resort Spa Biloxi, Mississippi Sam's Town Hotel and Gambling Hall Tunica, Mississippi As a result of the sale of our equity interest in Borgata (see Note 3, Acquisitions and Divestitures ), we no longer report our interest in Borgata as a Reportable Segment. In third quarter 2016, the Peninsula debt was refinanced, eliminating the financing structure that restricted our ability to transfer cash from Peninsula Gaming to Boyd Gaming. As a result of the elimination of this restriction, management has concluded that the properties previously comprising the Peninsula segment will be aggregated into the Midwest and South reportable segment, and has retrospectively adjusted the presentation for all periods presented. Results of Operations - Total Reportable Segment Net Revenues and Adjusted EBITDA We evaluate each of our property's profitability based upon Property Adjusted EBITDA, which represents each property's earnings before interest expense, income taxes, depreciation and amortization, deferred rent, share-based compensation expense, project development, preopening and writedowns expenses, impairments of assets, other operating items, net, and gain or loss on early retirements of debt, as applicable. Total Reportable Segment Adjusted EBITDA is the aggregate sum of the Property Adjusted EBITDA for each of the properties included in our Las Vegas Locals, Downtown Las Vegas, and Midwest and South segments. Results for Downtown Las Vegas include the results of our Hawaii-based travel agency and captive insurance company. The following table sets forth, for the periods indicated, certain operating data for our Reportable Segments, and reconciles Total Reportable Segment Adjusted EBITDA to operating income, as reported in our accompanying condensed consolidated statements of operations: Three Months Ended March 31, (In thousands) 2017 2016 Net Revenues Las Vegas Locals $ 219,781 $ 158,398 Downtown Las Vegas 60,744 58,605 Midwest and South 324,817 335,375 Total Reportable Segment Net Revenues $ 605,342 $ 552,378 Adjusted EBITDA Las Vegas Locals $ 66,227 $ 44,271 Downtown Las Vegas 13,638 12,681 Midwest and South 94,101 95,925 Total Reportable Segment Adjusted EBITDA 173,966 152,877 Corporate expense (18,163 ) (15,185 ) Adjusted EBITDA 155,803 137,692 Other operating costs and expenses Deferred rent 430 816 Depreciation and amortization 53,964 47,653 Share-based compensation expense 3,083 3,263 Project development, preopening and writedowns 2,972 1,841 Impairments of assets — 1,440 Other operating items, net 486 429 Total other operating costs and expenses 60,935 55,442 Operating income $ 94,868 $ 82,250 For purposes of this presentation, corporate expense excludes its portion of share-based compensation expense. Corporate expense represents unallocated payroll, professional fees, aircraft expenses and various other expenses not directly related to our casino and hotel operations. Total Reportable Segment Assets The Company's assets by Reportable Segment consisted of the following amounts: March 31, December 31, (In thousands) 2017 2016 Assets Las Vegas Locals $ 1,795,009 $ 1,785,858 Downtown Las Vegas 160,185 157,319 Midwest and South 2,526,089 2,556,307 Total Reportable Segment Assets 4,481,283 4,499,484 Corporate 200,613 171,267 Total Assets $ 4,681,896 $ 4,670,751

Condensed Consolidating Financi

Condensed Consolidating Financial Information	3 Months Ended
	Mar. 31, 2017
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 6.875% Notes and our 6.375% Notes is presented below. Each of these notes is fully and unconditionally guaranteed, on a joint and several basis, by certain of our current and future domestic restricted subsidiaries, all of which are 100% owned by us. The non-guarantors primarily represent special purpose entities, tax holding companies, our less significant operating subsidiaries and our less than wholly owned subsidiaries. On March 7, 2017, Aliante, Cannery and Eastside Cannery became guarantors of the 6.875% Notes, the 6.375% Notes and the Credit Facility. The tables below present the condensed consolidating balance sheets as of March 31, 2017, and December 31, 2016, the condensed consolidating statements of operations for the three months ended March 31, 2017 and 2016, and the condensed consolidating statements of cash flows for the three months ended March 31, 2017 and 2016. We have reclassified certain prior year amounts in the current year presentation to reflect the designation of the additional Restricted Subsidiaries listed above as subsidiary guarantors. Condensed Consolidating Balance Sheets March 31, 2017 Non- Non- Guarantor Guarantor Subsidiaries Subsidiaries Guarantor (100% (Not 100% (In thousands) Parent Subsidiaries Owned) Owned) Eliminations Consolidated Assets Cash and cash equivalents $ 1,778 $ 162,941 $ 2,288 $ — $ — $ 167,007 Other current assets 75,562 30,509 11,446 — (681 ) 116,836 Property and equipment, net 71,429 2,533,929 28,594 — — 2,633,952 Investments in subsidiaries 4,606,202 1,993 1,163 — (4,609,358 ) — Intercompany receivable — 1,602,070 — — (1,602,070 ) — Other assets, net 13,717 31,082 38,669 — — 83,468 Intangible assets, net — 830,283 24,059 — — 854,342 Goodwill, net — 825,509 782 — — 826,291 Total assets $ 4,768,688 $ 6,018,316 $ 107,001 $ — $ (6,212,109 ) $ 4,681,896 Liabilities and Stockholders' Equity Current maturities of long-term debt $ 23,895 $ 88 $ — $ — $ — $ 23,983 Other current liabilities 96,791 206,472 33,924 — (881 ) 336,306 Intercompany payable 580,549 — 1,021,043 — (1,601,592 ) — Long-term debt, net of current maturities and debt issuance costs 3,187,086 458 — — — 3,187,544 Other long-term liabilities (105,340 ) 275,420 (21,724 ) — — 148,356 Total stockholders' equity (deficit) 985,707 5,535,878 (926,242 ) — (4,609,636 ) 985,707 Total liabilities and stockholders' equity $ 4,768,688 $ 6,018,316 $ 107,001 $ — $ (6,212,109 ) $ 4,681,896 Condensed Consolidating Balance Sheets - continued December 31, 2016 Non- Non- Guarantor Guarantor Subsidiaries Subsidiaries Guarantor (100% (Not 100% (In thousands) Parent Subsidiaries Owned) Owned) Eliminations Consolidated Assets Cash and cash equivalents $ 1,212 $ 189,364 $ 3,286 $ — $ — $ 193,862 Other current assets 78,915 26,715 8,908 — (453 ) 114,085 Property and equipment, net 73,180 2,503,127 28,862 — — 2,605,169 Investments in subsidiaries 4,505,897 139,465 — — (4,645,362 ) — Intercompany receivable — 1,491,017 — — (1,491,017 ) — Other assets, net 13,598 31,899 3,708 — — 49,205 Intangible assets, net — 857,894 24,060 — — 881,954 Goodwill, net — 825,694 782 — — 826,476 Total assets $ 4,672,802 $ 6,065,175 $ 69,606 $ — $ (6,136,832 ) $ 4,670,751 Liabilities and Stockholders' Equity Current maturities of long-term debt $ 30,250 $ 86 $ — $ — $ — $ 30,336 Other current liabilities 93,762 196,391 46,444 — (1,429 ) 335,168 Accumulated losses of subsidiaries in excess of investment — — 8,257 — (8,257 ) — Intercompany payable 521,002 — 968,811 254 (1,490,067 ) — Long-term debt, net of current maturities and debt issuance costs 3,198,613 506 — — — 3,199,119 Other long-term liabilities (104,901 ) 298,624 (21,721 ) — — 172,002 Boyd Gaming Corporation stockholders' equity (deficit) 934,076 5,569,568 (932,185 ) (254 ) (4,637,129 ) 934,076 Noncontrolling interest — — — — 50 50 Total stockholders' equity (deficit) 934,076 5,569,568 (932,185 ) (254 ) (4,637,079 ) 934,126 Total liabilities and stockholders' equity $ 4,672,802 $ 6,065,175 $ 69,606 $ — $ (6,136,832 ) $ 4,670,751 Condensed Consolidating Statements of Operations Three Months Ended March 31, 2017 Non- Non- Guarantor Guarantor Subsidiaries Subsidiaries Guarantor (100% (Not 100% (In thousands) Parent Subsidiaries Owned) Owned) Eliminations Consolidated Net revenues $ 18,710 $ 598,102 $ 12,093 $ — $ (23,563 ) $ 605,342 Operating costs and expenses Operating — 303,384 10,858 — — 314,242 Selling, general and administrative 6 89,601 2,012 — (6 ) 91,613 Maintenance and utilities — 26,101 298 — — 26,399 Depreciation and amortization 2,682 50,283 999 — — 53,964 Corporate expense 19,864 364 570 — — 20,798 Project development, preopening and writedowns 1,255 879 838 — — 2,972 Other operating items, net 75 411 — — — 486 Intercompany expenses 301 23,256 — — (23,557 ) — Total operating costs and expenses 24,183 494,279 15,575 — (23,563 ) 510,474 Equity in earnings (losses) of subsidiaries 66,599 (129 ) — — (66,470 ) — Operating income (loss) 61,126 103,694 (3,482 ) — (66,470 ) 94,868 Other expense (income) Interest expense, net 42,839 369 6 — — 43,214 Loss on early extinguishments and modifications of debt 156 — — — — 156 Other, net — 127 (16 ) — — 111 Total other expense, net 42,995 496 (10 ) — — 43,481 Income (loss) from continuing operations before income taxes 18,131 103,198 (3,472 ) — (66,470 ) 51,387 Income taxes benefit (provision) 17,358 (34,788 ) 1,157 — — (16,273 ) Income (loss) from continuing operations, net of tax 35,489 68,410 (2,315 ) — (66,470 ) 35,114 Income from discontinued operations, net of tax — 375 — — — 375 Net income (loss) $ 35,489 $ 68,785 $ (2,315 ) $ — $ (66,470 ) $ 35,489 Comprehensive income (loss) $ 36,060 $ 69,356 $ (2,315 ) $ — $ (67,041 ) $ 36,060 Condensed Consolidating Statements of Operations - continued Three Months Ended March 31, 2016 Non- Non- Guarantor Guarantor Subsidiaries Subsidiaries Guarantor (100% (Not 100% (In thousands) Parent Subsidiaries Owned) Owned) Eliminations Consolidated Net revenues $ 31,201 $ 545,832 $ 12,125 $ — $ (36,780 ) $ 552,378 Operating costs and expenses Operating 450 284,150 10,559 — — 295,159 Selling, general and administrative 12,386 67,721 1,742 — 2 81,851 Maintenance and utilities — 23,535 313 — — 23,848 Depreciation and amortization 1,778 44,759 1,116 — — 47,653 Corporate expense 16,309 461 1,137 — — 17,907 Project development, preopening and writedowns 756 527 558 — — 1,841 Impairments of assets 1,440 — — — — 1,440 Other operating items, net 106 323 — — — 429 Intercompany expenses 301 36,116 365 — (36,782 ) — Total operating costs and expenses 33,526 457,592 15,790 — (36,780 ) 470,128 Equity in earnings of subsidiaries 68,519 (361 ) — — (68,158 ) — Operating income (loss) 66,194 87,879 (3,665 ) — (68,158 ) 82,250 Other expense (income) Interest expense, net 32,928 19,634 6 — — 52,568 Loss on early extinguishments of debt — 427 — — — 427 Other, net 1 93 (17 ) — — 77 Total other expense, net 32,929 20,154 (11 ) — — 53,072 Income (loss) from continuing operations before income taxes 33,265 67,725 (3,654 ) — (68,158 ) 29,178 Income taxes benefit (provision) (75 ) (7,522 ) (21 ) — — (7,618 ) Income (loss) from continuing operations, net of tax 33,190 60,203 (3,675 ) — (68,158 ) 21,560 Income from discontinued operations, net of tax — 11,630 — — — 11,630 Net income (loss) $ 33,190 $ 71,833 $ (3,675 ) $ — $ (68,158 ) $ 33,190 Comprehensive income (loss) $ 33,712 $ 72,355 $ (3,675 ) $ — $ (68,680 ) $ 33,712 Condensed Consolidating Statements of Cash Flows Three Months Ended March 31, 2017 Non- Non- Guarantor Guarantor Subsidiaries Subsidiaries Guarantor (100% (Not 100% (In thousands) Parent Subsidiaries Owned) Owned) Eliminations Consolidated Cash flows from operating activities Net cash from operating activities $ 22,216 $ 107,207 $ (18,104 ) $ 254 $ 472 $ 112,045 Cash flows from investing activities Capital expenditures (57,069 ) (22,951 ) (18 ) — — (80,038 ) Net activity with affiliates — (111,053 ) — — 111,053 — Advances pursuant to development agreement — — (35,108 ) — — (35,108 ) Other investing activities — 44 — — — 44 Net cash from investing activities (57,069 ) (133,960 ) (35,126 ) — 111,053 (115,102 ) Cash flows from financing activities Borrowings under bank credit facility 256,700 — — — — 256,700 Payments under bank credit facility (275,063 ) — — — — (275,063 ) Debt financing costs, net (1,889 ) — — — — (1,889 ) Net activity with affiliates 59,547 — 52,232 (254 ) (111,525 ) — Share-based compensation activities, net (3,826 ) — — — — (3,826 ) Other financing activities (50 ) (45 ) — — — (95 ) Net cash from financing activities 35,419 (45 ) 52,232 (254 ) (111,525 ) (24,173 ) Cash flows from discontinued operations Cash flows from operating activities — (255 ) — — — (255 ) Cash flows from investing activities — 630 — — — 630 Cash flows from financing activities — — — — — — Net cash from discontinued operations — 375 — — — 375 Net change in cash and cash equivalents 566 (26,423 ) (998 ) — — (26,855 ) Cash and cash equivalents, beginning of period 1,212 189,364 3,286 — — 193,862 Cash and cash equivalents, end of period $ 1,778 $ 162,941 $ 2,288 $ — $ — $ 167,007 Condensed Consolidating Statements of Cash Flows - continued Three Months Ended March 31, 2016 Non- Non- Guarantor Guarantor Subsidiaries Subsidiaries Guarantor (100% (Not 100% (In thousands) Parent Subsidiaries Owned) Owned) Eliminations Consolidated Cash flows from operating activities Net cash from operating activities $ (35,967 ) $ 104,588 $ 11,771 $ — $ (16 ) $ 80,376 Cash flows from investing activities Capital expenditures (11,143 ) (23,987 ) (167 ) — — (35,297 ) Net activity with affiliates — (108,572 ) — — 108,572 — Other investing activities — 5 — — — 5 Net cash from investing activities (11,143 ) (132,554 ) (167 ) — 108,572 (35,292 ) Cash flows from financing activities Borrowings under bank credit facility 223,900 95,200 — — — 319,100 Payments under bank credit facility (530,350 ) (114,725 ) — — — (645,075 ) Proceeds from issuance of senior notes, net 750,000 — — — — 750,000 Debt financing costs, net (12,996 ) — — — — (12,996 ) Net activity with affiliates 120,188 — (11,632 ) — (108,556 ) — Share-based compensation activities, net (1,387 ) — — — — (1,387 ) Net cash from financing activities 549,355 (19,525 ) (11,632 ) — (108,556 ) 409,642 Cash flows from discontinued operations Cash flows from operating activities — 2,654 — — — 2,654 Cash flows from investing activities — — — — — — Cash flows from financing activities — — — — — — Net cash from discontinued operations — 2,654 — — — 2,654 Net change in cash and cash equivalents 502,245 (44,837 ) (28 ) — — 457,380 Cash and cash equivalents, beginning of period 2 156,116 2,482 221 — 158,821 Cash and cash equivalents, end of period $ 502,247 $ 111,279 $ 2,454 $ 221 $ — $ 616,201

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2017
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS We have evaluated all events or transactions that occurred after March 31, 2017 . During this period, up to the filing date, we did not identify any additional subsequent events, other than the events disclosed in Note 9, Stockholders' Equity and Stock Incentive Plans , the effects of which would require disclosure or adjustment to our financial position or results of operations.

Summary of Significant Accoun21

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Gaming Taxes	Gaming Taxes We are subject to taxes based on gross gaming revenues in the jurisdictions in which we operate. These gaming taxes are assessed based on our gaming revenues and are recorded as a gaming expense in the condensed consolidated statements of operations. These taxes totaled approximately $83.2 million and $82.6 million for the three months ended March 31, 2017 and 2016 , respectively.
Income Taxes	Income Taxes Income taxes are recorded under the asset and liability method, whereby deferred tax assets and liabilities are recognized based on the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. We reduce the carrying amounts of deferred tax assets by a valuation allowance, if based on all evidence, it is more likely than not that such assets will not be realized. Use of the term "more likely than not" indicates the likelihood of occurrence is greater than 50%. Accordingly, the need to establish valuation allowances for deferred tax assets is continually assessed based on a more-likely-than-not realization threshold. This assessment considers, among other matters, the nature, frequency and severity of current and cumulative losses, forecasts of profitability, the duration of statutory carryforward periods, our experience with the utilization of operating loss and tax credit carryforwards before expiration and tax planning strategies. In making such judgments, significant weight is given to evidence that can be objectively verified. For the three months ended March 31, 2017 , we computed our provision by applying the annual effective tax rate method. For the three months ended March 31, 2016 , we computed our provision for income taxes by applying the actual effective tax rate, under the discrete method, to year-to-date income. The discrete method was used to calculate our income tax provision as the annual effective tax rate was not considered a reliable estimate of year-to-date income tax expense. Other Long Term Tax Liabilities The Company's income tax returns are subject to examination by the Internal Revenue Service ("IRS") and other tax authorities in the locations where it operates. The Company assesses potentially unfavorable outcomes of such examinations based on accounting standards for uncertain income taxes, which prescribe a minimum recognition threshold a tax position is required to meet before being recognized in the financial statements. Uncertain tax position accounting standards apply to all tax positions related to income taxes. These accounting standards utilize a two-step approach for evaluating tax positions. Recognition occurs when the Company concludes that a tax position, based on its technical merits, is more likely than not to be sustained upon examination. Measurement is only addressed if the position is deemed to be more likely than not to be sustained. The tax benefit is measured as the largest amount of benefit that is more likely than not to be realized upon settlement. Tax positions failing to qualify for initial recognition are recognized in the first subsequent interim period that they meet the "more likely than not" standard. If it is subsequently determined that a previously recognized tax position no longer meets the "more likely than not" standard, it is required that the tax position is derecognized. Accounting standards for uncertain tax positions specifically prohibit the use of a valuation allowance as a substitute for derecognition of tax positions. As applicable, the Company will recognize accrued penalties and interest related to unrecognized tax benefits in the provision for income taxes. Accrued interest and penalties are included in other long-term tax liabilities on the balance sheet.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Accounting Standards Update 2017-04, Intangibles-Goodwill and Other ("Update 2017-04") In January 2017, the Financial Accounting Standards Board ("FASB") issued Update 2017-04, which addresses goodwill impairment testing. Instead of determining goodwill impairment by calculating the implied fair value of goodwill, an entity should perform goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. The standard is effective for financial statements issued for annual periods and interim periods within those annual periods, beginning after December 15, 2019, and early adoption is permitted. The Company adopted Update 2017-04 effective January 1, 2017. The early adoption did not have an impact on our condensed consolidated financial statements. A variety of proposed or otherwise potential accounting standards are currently being studied by standard-setting organizations and certain regulatory agencies. Because of the tentative and preliminary nature of such proposed standards, we have not yet determined the effect, if any, that the implementation of such proposed standards would have on our consolidated financial statements.

Summary of Significant Accoun22

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Schedule of Promotional Allowances	The amounts included in promotional allowances are as follows: Three Months Ended March 31, (In thousands) 2017 2016 Rooms $ 18,477 $ 18,945 Food and beverage 42,067 37,452 Other 2,920 3,917 Total promotional allowances $ 63,464 $ 60,314 The estimated costs of providing such promotional allowances are as follows: Three Months Ended March 31, (In thousands) 2017 2016 Rooms $ 8,359 $ 8,569 Food and beverage 37,622 33,271 Other 3,808 2,981 Total estimated cost of promotional allowances $ 49,789 $ 44,821

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	3 Months Ended
	Mar. 31, 2017
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	Summarized income statement information for Borgata is as follows: Three Months Ended March 31, (In thousands) 2016 Net revenues $ 190,293 Operating expenses 152,620 Operating income 37,673 Non-operating expenses 14,412 Net income $ 23,261

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	3 Months Ended
	Mar. 31, 2017
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment, net consists of the following: March 31, December 31, (In thousands) 2017 2016 Land $ 284,592 $ 251,316 Buildings and improvements 2,774,162 2,915,664 Furniture and equipment 1,440,104 1,243,724 Riverboats and barges 239,285 239,264 Construction in progress 75,668 86,226 Other 725 726 Total property and equipment 4,814,536 4,736,920 Less accumulated depreciation 2,180,584 2,131,751 Property and equipment, net $ 2,633,952 $ 2,605,169
Depreciation Expense Table	Depreciation expense is as follows: Three Months Ended March 31, (In thousands) 2017 2016 Depreciation expense $ 49,394 $ 43,556

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2017
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Schedule of Intangible Assets	Intangible assets consist of the following: March 31, 2017 Weighted Gross Cumulative Average Life Carrying Cumulative Impairment Intangible (In thousands) Remaining Value Amortization Losses Assets, Net Amortizing intangibles Customer relationships 0.9 years $ 144,780 $ (129,426 ) $ — $ 15,354 Favorable lease rates 38.8 years 11,730 (2,903 ) — 8,827 Development agreement — 21,373 — — 21,373 177,883 (132,329 ) — 45,554 Indefinite lived intangible assets Trademarks Indefinite 153,687 — (4,300 ) 149,387 Gaming license rights Indefinite 873,335 (33,960 ) (179,974 ) 659,401 1,027,022 (33,960 ) (184,274 ) 808,788 Balance, March 31, 2017 $ 1,204,905 $ (166,289 ) $ (184,274 ) $ 854,342 December 31, 2016 Weighted Gross Cumulative Average Life Carrying Cumulative Impairment Intangible (In thousands) Remaining Value Amortization Losses Assets, Net Amortizing intangibles Customer relationships 1.1 years $ 144,780 $ (125,318 ) $ — $ 19,462 Favorable lease rates 31.4 years 45,370 (13,039 ) — 32,331 Development agreement — 21,373 — — 21,373 211,523 (138,357 ) — 73,166 Indefinite lived intangible assets Trademarks Indefinite 153,687 — (4,300 ) 149,387 Gaming license rights Indefinite 873,335 (33,960 ) (179,974 ) 659,401 1,027,022 (33,960 ) (184,274 ) 808,788 Balance, December 31, 2016 $ 1,238,545 $ (172,317 ) $ (184,274 ) $ 881,954

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	3 Months Ended
	Mar. 31, 2017
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consist of the following: March 31, December 31, (In thousands) 2017 2016 Payroll and related expenses $ 64,589 $ 68,102 Interest 44,198 33,407 Gaming liabilities 40,835 41,942 Player loyalty program liabilities 18,417 19,076 Other accrued liabilities 98,947 88,555 Total accrued liabilities $ 266,986 $ 251,082

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2017
Line of Credit Facility [Line Items]
Schedule of Long-term Debt Instruments	Long-term debt, net of current maturities consists of the following: March 31, 2017 Interest Unamortized Rates at Outstanding Unamortized Origination Long-Term (In thousands) Mar. 31, 2017 Principal Discount Fees and Costs Debt, Net Bank credit facility 3.05 % $ 1,764,175 $ (1,791 ) $ (28,772 ) $ 1,733,612 6.875% senior notes due 2023 6.88 % 750,000 — (11,860 ) 738,140 6.375% senior notes due 2026 6.38 % 750,000 — (10,771 ) 739,229 Other 5.80 % 546 — — 546 Total long-term debt 3,264,721 (1,791 ) (51,403 ) 3,211,527 Less current maturities 23,983 — — 23,983 Long-term debt, net $ 3,240,738 $ (1,791 ) $ (51,403 ) $ 3,187,544 December 31, 2016 Interest Unamortized Rates at Outstanding Unamortized Origination Long-Term (In thousands) Dec. 31, 2016 Principal Discount Fees and Costs Debt, Net Bank credit facility 3.44 % $ 1,782,538 $ (1,888 ) $ (28,503 ) $ 1,752,147 6.875% senior notes due 2023 6.88 % 750,000 — (11,209 ) 738,791 6.375% senior notes due 2026 6.38 % 750,000 — (12,074 ) 737,926 Other 5.80 % 591 — — 591 Total long-term debt 3,283,129 (1,888 ) (51,786 ) 3,229,455 Less current maturities 30,336 — — 30,336 Long-term debt, net $ 3,252,793 $ (1,888 ) $ (51,786 ) $ 3,199,119
Line of Credit | Bank Credit Facility [Member] | Parent
Line of Credit Facility [Line Items]
Schedule of Line of Credit Facilities	The outstanding principal amounts under the Credit Facility are comprised of the following: March 31, December 31, (In thousands) 2017 2016 Revolving Credit Facility $ 240,000 $ 245,000 Term A Loan 219,375 222,188 Refinancing Term B Loans 1,264,500 — Term B-1 Loan — 271,750 Term B-2 Loan — 997,500 Swing Loan 40,300 46,100 Total outstanding principal amounts under the Credit Facility $ 1,764,175 $ 1,782,538

Stockholders' Equity and Stoc28

Stockholders' Equity and Stock Incentive Plans (Tables)	3 Months Ended
	Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs	The following table provides classification detail of the total costs related to our share-based employee compensation plans reported in our condensed consolidated statements of operations. Three Months Ended March 31, (In thousands) 2017 2016 Gaming $ 70 $ 85 Food and beverage 13 16 Room 6 8 Selling, general and administrative 358 432 Corporate expense 2,636 2,722 Total share-based compensation expense $ 3,083 $ 3,263

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring Basis	Balances Measured at Fair Value The following tables show the fair values of certain of our financial instruments: March 31, 2017 (In thousands) Balance Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 167,007 $ 167,007 $ — $ — Restricted cash 22,047 22,047 — — Investment available for sale 17,865 — — 17,865 Liabilities Contingent payments $ 3,348 $ — $ — $ 3,348 December 31, 2016 (In thousands) Balance Level 1 Level 2 Level 3 Assets Cash and cash equivalents $ 193,862 $ 193,862 $ — $ — Restricted cash 16,488 16,488 — — Investment available for sale 17,259 — — 17,259 Liabilities Contingent payments $ 3,038 $ — $ — $ 3,038
Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table summarizes the changes in fair value of the Company's Level 3 assets and liabilities: Three Months Ended March 31, 2017 March 31, 2016 Assets Liability Assets Liability (In thousands) Investment Available for Sale Contingent Payments Investment Available for Sale Contingent Payments Balance at beginning of reporting period $ 17,259 $ (3,038 ) $ 17,839 $ (3,632 ) Total gains (losses) (realized or unrealized): Included in interest income (expense) 35 (129 ) 33 (154 ) Included in other comprehensive income 571 — 522 — Included in other items, net — (391 ) — — Purchases, sales, issuances and settlements: Settlements — 210 — 226 Balance at end of reporting period $ 17,865 $ (3,348 ) $ 18,394 $ (3,560 )
Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis	Balances Disclosed at Fair Value The following tables provide the fair value measurement information about our obligation under minimum assessment agreements and other financial instruments: March 31, 2017 (In thousands) Outstanding Face Amount Carrying Value Estimated Fair Value Fair Value Hierarchy Liabilities Obligation under assessment arrangements $ 32,973 $ 26,345 $ 27,002 Level 3 Other financial instruments 10 9 9 Level 3 December 31, 2016 (In thousands) Outstanding Face Amount Carrying Value Estimated Fair Value Fair Value Hierarchy Liabilities Obligation under assessment arrangements $ 33,456 $ 26,660 $ 27,054 Level 3 Other financial instruments 100 97 97 Level 3 The following tables provide the fair value measurement information about our long-term debt: March 31, 2017 (In thousands) Outstanding Face Amount Carrying Value Estimated Fair Value Fair Value Hierarchy Credit Facility $ 1,764,175 $ 1,733,612 $ 1,771,530 Level 2 6.875% senior notes due 2023 750,000 738,140 808,125 Level 1 6.375% senior notes due 2026 750,000 739,229 801,563 Level 1 Other 546 546 546 Level 3 Total debt $ 3,264,721 $ 3,211,527 $ 3,381,764 December 31, 2016 (In thousands) Outstanding Face Amount Carrying Value Estimated Fair Value Fair Value Hierarchy Credit Facility $ 1,782,538 $ 1,752,147 $ 1,791,853 Level 2 6.875% senior notes due 2023 750,000 738,791 806,250 Level 1 6.375% senior notes due 2026 750,000 737,926 804,375 Level 1 Other 591 591 591 Level 3 Total debt $ 3,283,129 $ 3,229,455 $ 3,403,069

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Schedule of Composition of Segments	We have aggregated certain of our properties in order to present three Reportable Segments: (i) Las Vegas Locals; (ii) Downtown Las Vegas; and (iii) Midwest and South. The table below lists the classification of each of our properties. Las Vegas Locals Gold Coast Hotel and Casino Las Vegas, Nevada The Orleans Hotel and Casino Las Vegas, Nevada Sam's Town Hotel and Gambling Hall Las Vegas, Nevada Suncoast Hotel and Casino Las Vegas, Nevada Eastside Cannery Casino and Hotel Las Vegas, Nevada Aliante Casino + Hotel + Spa North Las Vegas, Nevada Cannery Casino Hotel North Las Vegas, Nevada Eldorado Casino Henderson, Nevada Jokers Wild Casino Henderson, Nevada Downtown Las Vegas California Hotel and Casino Las Vegas, Nevada Fremont Hotel and Casino Las Vegas, Nevada Main Street Station Casino, Brewery and Hotel Las Vegas, Nevada Midwest and South Par-A-Dice Hotel Casino East Peoria, Illinois Blue Chip Casino, Hotel & Spa Michigan City, Indiana Diamond Jo Dubuque Dubuque, Iowa Diamond Jo Worth Northwood, Iowa Kansas Star Casino Mulvane, Kansas Amelia Belle Casino Amelia, Louisiana Delta Downs Racetrack Casino & Hotel Vinton, Louisiana Evangeline Downs Racetrack and Casino Opelousas, Louisiana Sam's Town Hotel and Casino Shreveport, Louisiana Treasure Chest Casino Kenner, Louisiana IP Casino Resort Spa Biloxi, Mississippi Sam's Town Hotel and Gambling Hall Tunica, Mississippi
Reconciliation of Revenue and Adjusted EBITDA from Segments to Consolidated	The following table sets forth, for the periods indicated, certain operating data for our Reportable Segments, and reconciles Total Reportable Segment Adjusted EBITDA to operating income, as reported in our accompanying condensed consolidated statements of operations: Three Months Ended March 31, (In thousands) 2017 2016 Net Revenues Las Vegas Locals $ 219,781 $ 158,398 Downtown Las Vegas 60,744 58,605 Midwest and South 324,817 335,375 Total Reportable Segment Net Revenues $ 605,342 $ 552,378 Adjusted EBITDA Las Vegas Locals $ 66,227 $ 44,271 Downtown Las Vegas 13,638 12,681 Midwest and South 94,101 95,925 Total Reportable Segment Adjusted EBITDA 173,966 152,877 Corporate expense (18,163 ) (15,185 ) Adjusted EBITDA 155,803 137,692 Other operating costs and expenses Deferred rent 430 816 Depreciation and amortization 53,964 47,653 Share-based compensation expense 3,083 3,263 Project development, preopening and writedowns 2,972 1,841 Impairments of assets — 1,440 Other operating items, net 486 429 Total other operating costs and expenses 60,935 55,442 Operating income $ 94,868 $ 82,250
Reconciliation of Assets from Segment to Consolidated	The Company's assets by Reportable Segment consisted of the following amounts: March 31, December 31, (In thousands) 2017 2016 Assets Las Vegas Locals $ 1,795,009 $ 1,785,858 Downtown Las Vegas 160,185 157,319 Midwest and South 2,526,089 2,556,307 Total Reportable Segment Assets 4,481,283 4,499,484 Corporate 200,613 171,267 Total Assets $ 4,681,896 $ 4,670,751

Condensed Consolidating Finan31

Condensed Consolidating Financial Information (Tables)	3 Months Ended
	Mar. 31, 2017
Schedule of adjustments [Line Items]
Schedule of Condensed Balance Sheet	Condensed Consolidating Balance Sheets March 31, 2017 Non- Non- Guarantor Guarantor Subsidiaries Subsidiaries Guarantor (100% (Not 100% (In thousands) Parent Subsidiaries Owned) Owned) Eliminations Consolidated Assets Cash and cash equivalents $ 1,778 $ 162,941 $ 2,288 $ — $ — $ 167,007 Other current assets 75,562 30,509 11,446 — (681 ) 116,836 Property and equipment, net 71,429 2,533,929 28,594 — — 2,633,952 Investments in subsidiaries 4,606,202 1,993 1,163 — (4,609,358 ) — Intercompany receivable — 1,602,070 — — (1,602,070 ) — Other assets, net 13,717 31,082 38,669 — — 83,468 Intangible assets, net — 830,283 24,059 — — 854,342 Goodwill, net — 825,509 782 — — 826,291 Total assets $ 4,768,688 $ 6,018,316 $ 107,001 $ — $ (6,212,109 ) $ 4,681,896 Liabilities and Stockholders' Equity Current maturities of long-term debt $ 23,895 $ 88 $ — $ — $ — $ 23,983 Other current liabilities 96,791 206,472 33,924 — (881 ) 336,306 Intercompany payable 580,549 — 1,021,043 — (1,601,592 ) — Long-term debt, net of current maturities and debt issuance costs 3,187,086 458 — — — 3,187,544 Other long-term liabilities (105,340 ) 275,420 (21,724 ) — — 148,356 Total stockholders' equity (deficit) 985,707 5,535,878 (926,242 ) — (4,609,636 ) 985,707 Total liabilities and stockholders' equity $ 4,768,688 $ 6,018,316 $ 107,001 $ — $ (6,212,109 ) $ 4,681,896 Condensed Consolidating Balance Sheets - continued December 31, 2016 Non- Non- Guarantor Guarantor Subsidiaries Subsidiaries Guarantor (100% (Not 100% (In thousands) Parent Subsidiaries Owned) Owned) Eliminations Consolidated Assets Cash and cash equivalents $ 1,212 $ 189,364 $ 3,286 $ — $ — $ 193,862 Other current assets 78,915 26,715 8,908 — (453 ) 114,085 Property and equipment, net 73,180 2,503,127 28,862 — — 2,605,169 Investments in subsidiaries 4,505,897 139,465 — — (4,645,362 ) — Intercompany receivable — 1,491,017 — — (1,491,017 ) — Other assets, net 13,598 31,899 3,708 — — 49,205 Intangible assets, net — 857,894 24,060 — — 881,954 Goodwill, net — 825,694 782 — — 826,476 Total assets $ 4,672,802 $ 6,065,175 $ 69,606 $ — $ (6,136,832 ) $ 4,670,751 Liabilities and Stockholders' Equity Current maturities of long-term debt $ 30,250 $ 86 $ — $ — $ — $ 30,336 Other current liabilities 93,762 196,391 46,444 — (1,429 ) 335,168 Accumulated losses of subsidiaries in excess of investment — — 8,257 — (8,257 ) — Intercompany payable 521,002 — 968,811 254 (1,490,067 ) — Long-term debt, net of current maturities and debt issuance costs 3,198,613 506 — — — 3,199,119 Other long-term liabilities (104,901 ) 298,624 (21,721 ) — — 172,002 Boyd Gaming Corporation stockholders' equity (deficit) 934,076 5,569,568 (932,185 ) (254 ) (4,637,129 ) 934,076 Noncontrolling interest — — — — 50 50 Total stockholders' equity (deficit) 934,076 5,569,568 (932,185 ) (254 ) (4,637,079 ) 934,126 Total liabilities and stockholders' equity $ 4,672,802 $ 6,065,175 $ 69,606 $ — $ (6,136,832 ) $ 4,670,751
Schedule of Condensed Income Statement	Condensed Consolidating Statements of Operations Three Months Ended March 31, 2017 Non- Non- Guarantor Guarantor Subsidiaries Subsidiaries Guarantor (100% (Not 100% (In thousands) Parent Subsidiaries Owned) Owned) Eliminations Consolidated Net revenues $ 18,710 $ 598,102 $ 12,093 $ — $ (23,563 ) $ 605,342 Operating costs and expenses Operating — 303,384 10,858 — — 314,242 Selling, general and administrative 6 89,601 2,012 — (6 ) 91,613 Maintenance and utilities — 26,101 298 — — 26,399 Depreciation and amortization 2,682 50,283 999 — — 53,964 Corporate expense 19,864 364 570 — — 20,798 Project development, preopening and writedowns 1,255 879 838 — — 2,972 Other operating items, net 75 411 — — — 486 Intercompany expenses 301 23,256 — — (23,557 ) — Total operating costs and expenses 24,183 494,279 15,575 — (23,563 ) 510,474 Equity in earnings (losses) of subsidiaries 66,599 (129 ) — — (66,470 ) — Operating income (loss) 61,126 103,694 (3,482 ) — (66,470 ) 94,868 Other expense (income) Interest expense, net 42,839 369 6 — — 43,214 Loss on early extinguishments and modifications of debt 156 — — — — 156 Other, net — 127 (16 ) — — 111 Total other expense, net 42,995 496 (10 ) — — 43,481 Income (loss) from continuing operations before income taxes 18,131 103,198 (3,472 ) — (66,470 ) 51,387 Income taxes benefit (provision) 17,358 (34,788 ) 1,157 — — (16,273 ) Income (loss) from continuing operations, net of tax 35,489 68,410 (2,315 ) — (66,470 ) 35,114 Income from discontinued operations, net of tax — 375 — — — 375 Net income (loss) $ 35,489 $ 68,785 $ (2,315 ) $ — $ (66,470 ) $ 35,489 Comprehensive income (loss) $ 36,060 $ 69,356 $ (2,315 ) $ — $ (67,041 ) $ 36,060 Condensed Consolidating Statements of Operations - continued Three Months Ended March 31, 2016 Non- Non- Guarantor Guarantor Subsidiaries Subsidiaries Guarantor (100% (Not 100% (In thousands) Parent Subsidiaries Owned) Owned) Eliminations Consolidated Net revenues $ 31,201 $ 545,832 $ 12,125 $ — $ (36,780 ) $ 552,378 Operating costs and expenses Operating 450 284,150 10,559 — — 295,159 Selling, general and administrative 12,386 67,721 1,742 — 2 81,851 Maintenance and utilities — 23,535 313 — — 23,848 Depreciation and amortization 1,778 44,759 1,116 — — 47,653 Corporate expense 16,309 461 1,137 — — 17,907 Project development, preopening and writedowns 756 527 558 — — 1,841 Impairments of assets 1,440 — — — — 1,440 Other operating items, net 106 323 — — — 429 Intercompany expenses 301 36,116 365 — (36,782 ) — Total operating costs and expenses 33,526 457,592 15,790 — (36,780 ) 470,128 Equity in earnings of subsidiaries 68,519 (361 ) — — (68,158 ) — Operating income (loss) 66,194 87,879 (3,665 ) — (68,158 ) 82,250 Other expense (income) Interest expense, net 32,928 19,634 6 — — 52,568 Loss on early extinguishments of debt — 427 — — — 427 Other, net 1 93 (17 ) — — 77 Total other expense, net 32,929 20,154 (11 ) — — 53,072 Income (loss) from continuing operations before income taxes 33,265 67,725 (3,654 ) — (68,158 ) 29,178 Income taxes benefit (provision) (75 ) (7,522 ) (21 ) — — (7,618 ) Income (loss) from continuing operations, net of tax 33,190 60,203 (3,675 ) — (68,158 ) 21,560 Income from discontinued operations, net of tax — 11,630 — — — 11,630 Net income (loss) $ 33,190 $ 71,833 $ (3,675 ) $ — $ (68,158 ) $ 33,190 Comprehensive income (loss) $ 33,712 $ 72,355 $ (3,675 ) $ — $ (68,680 ) $ 33,712
Schedule of Condensed Cash Flow Statement	Condensed Consolidating Statements of Cash Flows Three Months Ended March 31, 2017 Non- Non- Guarantor Guarantor Subsidiaries Subsidiaries Guarantor (100% (Not 100% (In thousands) Parent Subsidiaries Owned) Owned) Eliminations Consolidated Cash flows from operating activities Net cash from operating activities $ 22,216 $ 107,207 $ (18,104 ) $ 254 $ 472 $ 112,045 Cash flows from investing activities Capital expenditures (57,069 ) (22,951 ) (18 ) — — (80,038 ) Net activity with affiliates — (111,053 ) — — 111,053 — Advances pursuant to development agreement — — (35,108 ) — — (35,108 ) Other investing activities — 44 — — — 44 Net cash from investing activities (57,069 ) (133,960 ) (35,126 ) — 111,053 (115,102 ) Cash flows from financing activities Borrowings under bank credit facility 256,700 — — — — 256,700 Payments under bank credit facility (275,063 ) — — — — (275,063 ) Debt financing costs, net (1,889 ) — — — — (1,889 ) Net activity with affiliates 59,547 — 52,232 (254 ) (111,525 ) — Share-based compensation activities, net (3,826 ) — — — — (3,826 ) Other financing activities (50 ) (45 ) — — — (95 ) Net cash from financing activities 35,419 (45 ) 52,232 (254 ) (111,525 ) (24,173 ) Cash flows from discontinued operations Cash flows from operating activities — (255 ) — — — (255 ) Cash flows from investing activities — 630 — — — 630 Cash flows from financing activities — — — — — — Net cash from discontinued operations — 375 — — — 375 Net change in cash and cash equivalents 566 (26,423 ) (998 ) — — (26,855 ) Cash and cash equivalents, beginning of period 1,212 189,364 3,286 — — 193,862 Cash and cash equivalents, end of period $ 1,778 $ 162,941 $ 2,288 $ — $ — $ 167,007 Condensed Consolidating Statements of Cash Flows - continued Three Months Ended March 31, 2016 Non- Non- Guarantor Guarantor Subsidiaries Subsidiaries Guarantor (100% (Not 100% (In thousands) Parent Subsidiaries Owned) Owned) Eliminations Consolidated Cash flows from operating activities Net cash from operating activities $ (35,967 ) $ 104,588 $ 11,771 $ — $ (16 ) $ 80,376 Cash flows from investing activities Capital expenditures (11,143 ) (23,987 ) (167 ) — — (35,297 ) Net activity with affiliates — (108,572 ) — — 108,572 — Other investing activities — 5 — — — 5 Net cash from investing activities (11,143 ) (132,554 ) (167 ) — 108,572 (35,292 ) Cash flows from financing activities Borrowings under bank credit facility 223,900 95,200 — — — 319,100 Payments under bank credit facility (530,350 ) (114,725 ) — — — (645,075 ) Proceeds from issuance of senior notes, net 750,000 — — — — 750,000 Debt financing costs, net (12,996 ) — — — — (12,996 ) Net activity with affiliates 120,188 — (11,632 ) — (108,556 ) — Share-based compensation activities, net (1,387 ) — — — — (1,387 ) Net cash from financing activities 549,355 (19,525 ) (11,632 ) — (108,556 ) 409,642 Cash flows from discontinued operations Cash flows from operating activities — 2,654 — — — 2,654 Cash flows from investing activities — — — — — — Cash flows from financing activities — — — — — — Net cash from discontinued operations — 2,654 — — — 2,654 Net change in cash and cash equivalents 502,245 (44,837 ) (28 ) — — 457,380 Cash and cash equivalents, beginning of period 2 156,116 2,482 221 — 158,821 Cash and cash equivalents, end of period $ 502,247 $ 111,279 $ 2,454 $ 221 $ — $ 616,201

Organization and Basis of Pre32

Organization and Basis of Presentation (Details) - property	3 Months Ended
	Mar. 31, 2017	Jan. 31, 2010
Consolidated Entities [Line Items]
Number of gaming entertainment properties	24
Subsidiary, Borgata
Consolidated Entities [Line Items]
Equity Method Investment, Ownership Percentage		50.00%

Summary of Significant Accoun33

Summary of Significant Accounting Policies (Promotional Allowances) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Allowances [Line Items]
Promotional allowances	$ 63,464	$ 60,314
Cost of promotional allowances	49,789	44,821
Rooms
Allowances [Line Items]
Promotional allowances	18,477	18,945
Cost of promotional allowances	8,359	8,569
Food and Beverage
Allowances [Line Items]
Promotional allowances	42,067	37,452
Cost of promotional allowances	37,622	33,271
Other Products and Services
Allowances [Line Items]
Promotional allowances	2,920	3,917
Cost of promotional allowances	$ 3,808	$ 2,981

Summary of Significant Accoun34

Summary of Significant Accounting Policies (Gaming Taxes) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Accounting Policies [Abstract]
Gaming taxes	$ 83.2	$ 82.6

Summary of Significant Accoun35

Summary of Significant Accounting Policies (Unrecognized Tax Benefits) (Details) $ in Millions	Mar. 31, 2017USD ($)
Income Tax Contingency [Line Items]
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	$ 15.8

Acquisitions and Divestitures I

Acquisitions and Divestitures Investment in and Divestiture of Borgata (Details) - USD ($) $ in Thousands	Aug. 02, 2016	Jul. 31, 2016	Jan. 31, 2010
Business Acquisition [Line Items]
Proceeds from Divestiture of Businesses	$ 900,000
Proceeds from Divestiture of Businesses, Net of Cash Divested	589,000
Refund From Tax Settlement	52,000
Subsidiary, Borgata
Business Acquisition [Line Items]
Equity Method Investment, Summarized Financial Information, Revenue		$ 190,293
Equity Method Investment, Ownership Percentage			50.00%
Refund From Tax Settlement	20,000
Equity Method Investment, Summarized Financial Information, Cost of Sales		152,620
Equity Method Investment, Summarized Financial Information, Gross Profit (Loss)		37,673
Equity Method Investment, Summarized Financial Information, Non-operating Expenses		(14,412)
Equity Method Investment, Summarized Financial Information, Net Income (Loss)		$ 23,261
Borgata [Member]
Business Acquisition [Line Items]
Discontinued Operation, Tax Effect of Gain (Loss) from Disposal of Discontinued Operation	600
Refund From Tax Settlement	$ 72,000
MDDHC [Member]
Business Acquisition [Line Items]
Equity Method Investment, Ownership Percentage			1.00%
Subsidiaries [Member]
Business Acquisition [Line Items]
Equity Method Investment, Ownership Percentage			49.00%

Property and Equipment, Net (De

Property and Equipment, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 4,814,536		$ 4,736,920
Less accumulated depreciation	2,180,584		2,131,751
Property and equipment, net	2,633,952		2,605,169
Depreciation expense	49,394	$ 43,556
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	284,592		251,316
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,774,162		2,915,664
Furniture and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,440,104		1,243,724
Riverboats and barges
Property, Plant and Equipment [Line Items]
Property and equipment, gross	239,285		239,264
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	75,668		86,226
Other
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 725		$ 726

Intangible Assets (Summary of A

Intangible Assets (Summary of Amortizing and Indefinite-Lived Intangibles) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Intangible Assets [Line Items]
Intangible assets, gross	$ 1,204,905	$ 1,238,545
Intangible assets, cumulative amortization	(166,289)	(172,317)
Intangible assets, cumulative impairment	(184,274)	(184,274)
Intangible assets, net	854,342	881,954
Amortizing intangibles:
Gross carrying value	177,883	211,523
Cumulative amortization	(132,329)	(138,357)
Cumulative impairment losses	0	0
Intangible assets, net	45,554	73,166
Indefinite lived intangible assets:
Gross carrying value	1,027,022	1,027,022
Cumulative amortization	(33,960)	(33,960)
Cumulative impairment losses	(184,274)	(184,274)
Intangible assets, net	$ 808,788	$ 808,788
Customer Relationships [Member]
Amortizing intangibles:
Weighted average life	325 days	1 year 1 month
Gross carrying value	$ 144,780	$ 144,780
Cumulative amortization	(129,426)	(125,318)
Cumulative impairment losses	0	0
Intangible assets, net	$ 15,354	$ 19,462
Off-Market Favorable Lease [Member]
Amortizing intangibles:
Weighted average life	38 years 9 months 5 days	31 years 4 months 24 days
Gross carrying value	$ 11,730	$ 45,370
Cumulative amortization	(2,903)	(13,039)
Cumulative impairment losses	0	0
Intangible assets, net	8,827	32,331
Development Agreement
Amortizing intangibles:
Gross carrying value	21,373	21,373
Cumulative amortization	0	0
Cumulative impairment losses	0	0
Intangible assets, net	21,373	21,373
Trademarks
Indefinite lived intangible assets:
Gross carrying value	153,687	153,687
Cumulative amortization	0	0
Cumulative impairment losses	(4,300)	(4,300)
Intangible assets, net	149,387	149,387
Gaming License Rights
Indefinite lived intangible assets:
Gross carrying value	873,335	873,335
Cumulative amortization	(33,960)	(33,960)
Cumulative impairment losses	(179,974)	(179,974)
Intangible assets, net	$ 659,401	$ 659,401

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Payables and Accruals [Abstract]
Payroll and related expenses	$ 64,589	$ 68,102
Interest	44,198	33,407
Gaming liabilities	40,835	41,942
Player loyalty program liabilities	18,417	19,076
Other accrued liabilities	98,947	88,555
Total accrued liabilities	$ 266,986	$ 251,082

Long-Term Debt (Schedule of Lon

Long-Term Debt (Schedule of Long-term Debt) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 3,264,721	$ 3,283,129
Unamortized discount	1,791	1,888
Unamortized Debt Issuance Expense	51,403	51,786
Current maturities of long-term debt	23,983	30,336
Long-term debt, gross, excluding current maturities	3,240,738	3,252,793
Long-term debt, net of current maturities and debt issuance costs	3,187,544	3,199,119
Parent
Debt Instrument [Line Items]
Long-term Debt, Gross	3,264,721	3,283,129
Unamortized discount	1,791	1,888
Unamortized Debt Issuance Expense	51,403	51,786
Long-term debt, net	3,211,527	3,229,455
Current maturities of long-term debt	23,895	30,250
Long-term debt, net of current maturities and debt issuance costs	$ 3,187,086	$ 3,198,613
Parent | Line of Credit | Bank Credit Facility [Member]
Debt Instrument [Line Items]
Interest rate at period end	3.052%	3.44%
Unamortized discount	$ 1,791	$ 1,888
Unamortized Debt Issuance Expense	28,772	28,503
Parent | Senior Notes | 6.875 % Senior Notes Due 2023
Debt Instrument [Line Items]
Unamortized discount	0	0
Unamortized Debt Issuance Expense	$ 11,860	$ 11,209
Debt Instrument, Interest Rate, Stated Percentage	6.875%	6.88%
Parent | Senior Notes | 6.375% Senior Notes Due 2026
Debt Instrument [Line Items]
Unamortized discount	$ 0	$ 0
Unamortized Debt Issuance Expense	$ 10,771	$ 12,074
Debt Instrument, Interest Rate, Stated Percentage	6.375%	6.38%
Parent | Other Debt Obligations [Member] | Other
Debt Instrument [Line Items]
Unamortized discount	$ 0	$ 0
Unamortized Debt Issuance Expense	$ 0	$ 0
Debt Instrument, Interest Rate, Stated Percentage	5.80%	5.80%
Fair Value, Measurements, Nonrecurring [Member] | Parent | Line of Credit | Bank Credit Facility [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 1,764,175	$ 1,782,538
Long-term debt, net	1,733,612	1,752,147
Fair Value, Measurements, Nonrecurring [Member] | Parent | Senior Notes | 6.875 % Senior Notes Due 2023
Debt Instrument [Line Items]
Long-term Debt, Gross	750,000	750,000
Long-term debt, net	738,140	738,791
Fair Value, Measurements, Nonrecurring [Member] | Parent | Senior Notes | 6.375% Senior Notes Due 2026
Debt Instrument [Line Items]
Long-term Debt, Gross	750,000	750,000
Long-term debt, net	739,229	737,926
Fair Value, Measurements, Nonrecurring [Member] | Parent | Other Debt Obligations [Member] | Other
Debt Instrument [Line Items]
Long-term Debt, Gross	546	591
Long-term debt, net	$ 546	$ 591

Long-Term Debt (Schedule of Boy

Long-Term Debt (Schedule of Boyd Bank Credit Facility) (Details) - Line of Credit - Parent - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Line of Credit Facility [Line Items]
Amount outstanding	$ 1,764,175	$ 1,782,538
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Amount outstanding	240,000	245,000
Term Loan A [Member]
Line of Credit Facility [Line Items]
Amount outstanding	219,375	222,188
Refinancing Term B Loans [Member]
Line of Credit Facility [Line Items]
Amount outstanding	1,264,500	0
Term Loan B [Member]
Line of Credit Facility [Line Items]
Amount outstanding	0	271,750
Term Loan B-2 [Member]
Line of Credit Facility [Line Items]
Amount outstanding	0	997,500
Swing Loan [Member]
Line of Credit Facility [Line Items]
Amount outstanding	$ 40,300	$ 46,100

Long-Term Debt (Boyd Bank Credi

Long-Term Debt (Boyd Bank Credit Facility Narrative) (Details) - USD ($)	Mar. 30, 2017	Mar. 31, 2017	Mar. 29, 2017	Dec. 31, 2016
Refinancing Term B Loans [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			$ 0
Repayments of Debt	$ 0.0025
Parent | Line of Credit
Line of Credit Facility [Line Items]
Amount outstanding		$ 1,764,175,000		$ 1,782,538,000
Line of Credit Facility, Remaining Borrowing Capacity		482,200,000
Parent | Line of Credit | Refinancing Term B Loans [Member]
Line of Credit Facility [Line Items]
Amount outstanding		1,264,500,000		$ 0
Debt Instrument, Fixed Quarterly Amortization of Principal, Percentage			1.00%
Parent | Letter of Credit [Member]
Line of Credit Facility [Line Items]
Amount outstanding		$ 12,500,000
London Interbank Offered Rate (LIBOR) [Member] | Parent | Minimum [Member] | Refinancing Term B Loans [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	2.25%
London Interbank Offered Rate (LIBOR) [Member] | Parent | Maximum [Member] | Refinancing Term B Loans [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	2.50%
Base Rate [Member] | Parent | Minimum [Member] | Refinancing Term B Loans [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.25%
Base Rate [Member] | Parent | Maximum [Member] | Refinancing Term B Loans [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.50%
Refinancing Term B Loans [Member] | Refinancing Term B Loans [Member]
Line of Credit Facility [Line Items]
Repayments of Debt	$ 0.0025

Long-Term Debt (Covenant Compli

Long-Term Debt (Covenant Compliance) (Details) - Parent - Senior Notes	Mar. 31, 2017	Dec. 31, 2016
6.875 % Senior Notes Due 2023
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.875%	6.88%
6.375% Senior Notes Due 2026
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.375%	6.38%

Stockholders' Equity and Stoc44

Stockholders' Equity and Stock Incentive Plans (Classification of Costs) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock Repurchase Program, Remaining Authorized Repurchase Amount			$ 92,000,000
Share-based compensation expense	$ 3,083,000	$ 3,263,000
Dividends, Share-based Compensation	0.05
Gaming
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	70,000	85,000
Food and Beverage
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	13,000	16,000
Room
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	6,000	8,000
Selling, General and Administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	358,000	432,000
Corporate Expense
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 2,636,000	$ 2,722,000
Common Stock
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock Issued During Period, Shares, Restricted Stock Award, Gross	268,429	213,365
Shares to be issued to settle PSUs	0.80	0.59
Shares Paid for Tax Withholding for Share Based Compensation	94,776	54,338
Release of performance stock units, net of tax	173,653	159,027

Noncontrolling Interest (Narrat

Noncontrolling Interest (Narrative) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Noncontrolling Interest [Line Items]
Noncontrolling interest	$ 0	$ 50

Noncontrolling Interest (Change

Noncontrolling Interest (Changes in Noncontrolling Interest) (Details) $ in Thousands	Mar. 31, 2017USD ($)
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balance, January 1, 2015	$ 50
Balance, March 31, 2015	$ 0

Fair Value Measurements (Balanc

Fair Value Measurements (Balance Measured at Fair Value) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Assets
Restricted cash	$ 22,047	$ 16,488
Investment available for sale	17,525	16,820
Fair Value, Measurements, Recurring [Member]
Assets
Cash and cash equivalents	167,007	193,862
Restricted cash	22,047	16,488
Investment available for sale	17,865	17,259	$ 20,960
Liabilities
Business Combination, Contingent Consideration, Liability	3,348	3,038
Fair Value, Measurements, Recurring [Member] | Level 1
Assets
Cash and cash equivalents	167,007	193,862
Investment available for sale	0	0
Liabilities
Business Combination, Contingent Consideration, Liability	0	0
Fair Value, Measurements, Recurring [Member] | Level 2
Assets
Cash and cash equivalents	0	0
Restricted cash	0	0
Investment available for sale	0	0
Liabilities
Business Combination, Contingent Consideration, Liability	0	0
Fair Value, Measurements, Recurring [Member] | Level 3
Assets
Cash and cash equivalents	0	0
Restricted cash	0	0
Investment available for sale	17,865	17,259
Liabilities
Business Combination, Contingent Consideration, Liability	$ 3,348	$ 3,038

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative-Balances Measured at Fair Value) (Details) - USD ($) $ in Thousands	Dec. 20, 2011	Mar. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment available for sale		$ 17,525	$ 16,820
Fair Value, Discount Amount, Available for sales securities		3,100
Business Combination, Contingent Consideration, Liability for Payments to Option Holder, Current		800	900
Business Combination, Contingent Consideration, Liability for Payments to Option Holder, Noncurrent		2,500	2,200
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment available for sale		$ 17,865	17,259	$ 20,960
Debt Security, Interest Rate, Stated Percentage		7.50%
Fair Value, Measurements, Recurring [Member] | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment available for sale		$ 17,865	$ 17,259
Available-for-sale Securities [Member] | Discount Rate [Member] | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques, Unobservable Inputs, Rate, Percentage		10.139%	10.283%
Peninsula Gaming [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Current		$ 400	$ 400
Fair Value, Discount Amount, Available for sales securities			3,100
Business Combination, Contingent Consideration, Liability for Payments to Option Holder, Current			900
Business Combination, Contingent Consideration, Liability for Payments to Option Holder, Noncurrent			$ 2,700
Kansas Star [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Contingent Consideration Arrangements, Payment to Option Holder, Percentage of EBITDA	1.00%
Contingent Payments | Discount Rate [Member] | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques, Unobservable Inputs, Rate, Percentage		9.30%	18.50%

Fair Value Measurements (Change

Fair Value Measurements (Changes in Fair Value of Level 3 Assets and Liabilities) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Contingent Payments
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	$ 3,038,000	$ 3,632,000
Included in Earnings	129,000	154,000
Included in Other Comprehensive Income (Loss)	0	0
Transfers, Net	391,000	0
Settlements	210,000	226,000
Ending Balance	(3,348,000)	(3,560,000)
Investment Available for Sale
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	17,259,000	17,839,000
Included in Earnings	(35,000)	(33,000)
Included in Other Comprehensive Income (Loss)	(571,000)	(522,000)
Transfers, Net	0	0
Ending Balance	17,865,000	18,394,000
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Settlements	$ 0	$ 0

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value, by Balance Sheet Grouping) (Details) - Parent - Level 3 - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commitments, Fair Value Disclosure	$ 32,973	$ 33,456
Other Financial Instruments	10	100
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commitments, Fair Value Disclosure	26,345	26,660
Other Financial Instruments	9	97
Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commitments, Fair Value Disclosure	27,002	27,054
Other Financial Instruments	$ 9	$ 97

Fair Value Measurements (Fair51

Fair Value Measurements (Fair Value Balance Sheet Long-Term Debt Grouping) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Gross	$ 3,264,721	$ 3,283,129
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, net	3,211,527	3,229,455
Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	3,381,764	3,403,069
Parent
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Gross	3,264,721	3,283,129
Long-term debt, net	3,211,527	3,229,455
Bank Credit Facility [Member] | Fair Value, Measurements, Nonrecurring [Member] | Parent | Line of Credit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Gross	1,764,175	1,782,538
Long-term debt, net	1,733,612	1,752,147
6.875 % Senior Notes Due 2023 | Fair Value, Measurements, Nonrecurring [Member] | Parent | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Gross	750,000	750,000
Long-term debt, net	738,140	738,791
6.375% Senior Notes Due 2026 | Fair Value, Measurements, Nonrecurring [Member] | Parent | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Gross	750,000	750,000
Long-term debt, net	739,229	737,926
Level 1 | 6.875 % Senior Notes Due 2023 | Fair Value, Measurements, Nonrecurring [Member] | Parent | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Gross		750,000
Level 1 | 6.875 % Senior Notes Due 2023 | Fair Value, Measurements, Nonrecurring [Member] | Parent | Senior Notes | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, net		738,791
Level 1 | 6.875 % Senior Notes Due 2023 | Fair Value, Measurements, Nonrecurring [Member] | Parent | Senior Notes | Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	808,125	806,250
Level 1 | 6.375% Senior Notes Due 2026 | Fair Value, Measurements, Nonrecurring [Member] | Parent | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Gross		750,000
Level 1 | 6.375% Senior Notes Due 2026 | Fair Value, Measurements, Nonrecurring [Member] | Parent | Senior Notes | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, net		737,926
Level 1 | 6.375% Senior Notes Due 2026 | Fair Value, Measurements, Nonrecurring [Member] | Parent | Senior Notes | Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	801,563	804,375
Level 2 | Bank Credit Facility [Member] | Fair Value, Measurements, Nonrecurring [Member] | Parent | Line of Credit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Gross		1,782,538
Level 2 | Bank Credit Facility [Member] | Fair Value, Measurements, Nonrecurring [Member] | Parent | Line of Credit | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, net		1,752,147
Level 2 | Bank Credit Facility [Member] | Fair Value, Measurements, Nonrecurring [Member] | Parent | Line of Credit | Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	1,771,530	1,791,853
Level 3 | Other Debt [Member] | Fair Value, Measurements, Nonrecurring [Member] | Parent | Other Debt Obligations [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Gross		591
Level 3 | Other Debt [Member] | Fair Value, Measurements, Nonrecurring [Member] | Parent | Other Debt Obligations [Member] | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, net		591
Level 3 | Other Debt [Member] | Fair Value, Measurements, Nonrecurring [Member] | Parent | Other Debt Obligations [Member] | Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	$ 546	$ 591

Segment Information (Certain Se

Segment Information (Certain Segment Operating Data and Other) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Segment Reporting, Certain Operating Data and Reconciling Item for Adjusted EBITDA from Segment to Consolidated [Line Items]
Net revenues	$ 605,342	$ 552,378
Adjusted EBITDA	155,803	137,692
Corporate expense	20,798	17,907
Deferred rent	430	816
Depreciation and amortization	53,964	47,653
Depreciation and amortization	53,964	47,653
Share-based compensation expense	3,083	3,263
Project development, preopening and writedowns	2,972	1,841
Impairments of assets	0	1,440
Other operating items, net	486	429
Total other operating costs and expenses	60,935	55,442
Operating income	94,868	82,250
Las Vegas Locals
Segment Reporting, Certain Operating Data and Reconciling Item for Adjusted EBITDA from Segment to Consolidated [Line Items]
Net revenues	219,781	158,398
Adjusted EBITDA	66,227	44,271
Downtown Las Vegas
Segment Reporting, Certain Operating Data and Reconciling Item for Adjusted EBITDA from Segment to Consolidated [Line Items]
Net revenues	60,744	58,605
Adjusted EBITDA	13,638	12,681
Midwest and South
Segment Reporting, Certain Operating Data and Reconciling Item for Adjusted EBITDA from Segment to Consolidated [Line Items]
Net revenues	324,817	335,375
Adjusted EBITDA	94,101	95,925
Corporate expense
Segment Reporting, Certain Operating Data and Reconciling Item for Adjusted EBITDA from Segment to Consolidated [Line Items]
Adjusted EBITDA	173,966	152,877
Corporate expense	$ (18,163)	$ (15,185)

Segment Information (Reconcilia

Segment Information (Reconciliation of Assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 4,681,896	$ 4,670,751
Las Vegas Locals
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	1,795,009	1,785,858
Downtown Las Vegas
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	160,185	157,319
Midwest and South
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	2,526,089	2,556,307
Total Reportable Segment Adjusted EBITDA
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	4,481,283	4,499,484
Corporate Segment [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 200,613	$ 171,267

Condensed Consolidating Finan54

Condensed Consolidating Financial Information (Balance Sheets) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Assets
Other current assets	$ 116,836	$ 114,085
Property and equipment, net	2,633,952	2,605,169
Investments in subsidiaries	0	0
Intercompany receivable	0	0
Other assets, net	83,468	49,205
Intangible assets, net	854,342	881,954
Goodwill, net	826,291	826,476
Total assets	4,681,896	4,670,751
Liabilities and Stockholders’ Equity
Current maturities of long-term debt	23,983	30,336
Other current liabilities	336,306	335,168
Accumulated losses of subsidiaries in excess of investment		0
Intercompany payable	0	0
Long-term debt, net of current maturities and debt issuance costs	3,187,544	3,199,119
Other long-term liabilities	148,356	172,002
Total Boyd Gaming Corporation stockholders' equity	985,707	934,076
Noncontrolling interest	0	50
Total stockholders' equity (deficit)	985,707	934,126	$ 543,599	$ 508,011
Total liabilities and stockholders' equity	4,681,896	4,670,751
Parent
Assets
Other current assets	75,562	78,915
Property and equipment, net	71,429	73,180
Investments in subsidiaries	4,606,202	4,505,897
Intercompany receivable	0	0
Other assets, net	13,717	13,598
Intangible assets, net	0	0
Goodwill, net	0	0
Total assets	4,768,688	4,672,802
Liabilities and Stockholders’ Equity
Current maturities of long-term debt	23,895	30,250
Other current liabilities	96,791	93,762
Accumulated losses of subsidiaries in excess of investment		0
Intercompany payable	580,549	521,002
Long-term debt, net of current maturities and debt issuance costs	3,187,086	3,198,613
Other long-term liabilities	(105,340)	(104,901)
Total Boyd Gaming Corporation stockholders' equity		934,076
Noncontrolling interest		0
Total stockholders' equity (deficit)	985,707	934,076
Total liabilities and stockholders' equity	4,768,688	4,672,802
Guarantor Subsidiaries
Assets
Other current assets	30,509	26,715
Property and equipment, net	2,533,929	2,503,127
Investments in subsidiaries	1,993	139,465
Intercompany receivable	1,602,070	1,491,017
Other assets, net	31,082	31,899
Intangible assets, net	830,283	857,894
Goodwill, net	825,509	825,694
Total assets	6,018,316	6,065,175
Liabilities and Stockholders’ Equity
Current maturities of long-term debt	88	86
Other current liabilities	206,472	196,391
Accumulated losses of subsidiaries in excess of investment		0
Intercompany payable	0	0
Long-term debt, net of current maturities and debt issuance costs	458	506
Other long-term liabilities	275,420	298,624
Total Boyd Gaming Corporation stockholders' equity		5,569,568
Noncontrolling interest		0
Total stockholders' equity (deficit)	5,535,878	5,569,568
Total liabilities and stockholders' equity	6,018,316	6,065,175
Non-Guarantor Subsidiaries (100% Owned)
Assets
Other current assets	11,446	8,908
Property and equipment, net	28,594	28,862
Investments in subsidiaries	1,163	0
Intercompany receivable	0	0
Other assets, net	38,669	3,708
Intangible assets, net	24,059	24,060
Goodwill, net	782	782
Total assets	107,001	69,606
Liabilities and Stockholders’ Equity
Current maturities of long-term debt	0	0
Other current liabilities	33,924	46,444
Accumulated losses of subsidiaries in excess of investment		8,257
Intercompany payable	1,021,043	968,811
Long-term debt, net of current maturities and debt issuance costs	0	0
Other long-term liabilities	(21,724)	(21,721)
Total Boyd Gaming Corporation stockholders' equity		(932,185)
Noncontrolling interest		0
Total stockholders' equity (deficit)	(926,242)	(932,185)
Total liabilities and stockholders' equity	107,001	69,606
Non-Guarantor Subsidiaries (Not 100% Owned)
Assets
Other current assets	0	0
Property and equipment, net	0	0
Investments in subsidiaries	0	0
Intercompany receivable	0	0
Other assets, net	0	0
Intangible assets, net	0	0
Goodwill, net	0	0
Total assets	0	0
Liabilities and Stockholders’ Equity
Current maturities of long-term debt	0	0
Other current liabilities	0	0
Accumulated losses of subsidiaries in excess of investment		0
Intercompany payable	0	254
Long-term debt, net of current maturities and debt issuance costs	0	0
Other long-term liabilities	0	0
Total Boyd Gaming Corporation stockholders' equity		(254)
Noncontrolling interest		0
Total stockholders' equity (deficit)	0	(254)
Total liabilities and stockholders' equity	0	0
Eliminations
Assets
Other current assets	(681)	(453)
Property and equipment, net	0	0
Investments in subsidiaries	(4,609,358)	(4,645,362)
Intercompany receivable	(1,602,070)	(1,491,017)
Other assets, net	0	0
Intangible assets, net	0	0
Goodwill, net	0	0
Total assets	(6,212,109)	(6,136,832)
Liabilities and Stockholders’ Equity
Current maturities of long-term debt	0	0
Other current liabilities	(881)	(1,429)
Accumulated losses of subsidiaries in excess of investment		(8,257)
Intercompany payable	(1,601,592)	(1,490,067)
Long-term debt, net of current maturities and debt issuance costs	0	0
Other long-term liabilities	0	0
Total Boyd Gaming Corporation stockholders' equity		(4,637,129)
Noncontrolling interest		50
Total stockholders' equity (deficit)	(4,609,636)	(4,637,079)
Total liabilities and stockholders' equity	$ (6,212,109)	$ (6,136,832)

Condensed Consolidating Finan55

Condensed Consolidating Financial Information (Income Statements) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Condensed Financial Statements, Captions [Line Items]
Net revenues	$ 605,342	$ 552,378
Costs and Expenses
Operating	314,242	295,159
Impairments of assets	0	1,440
Other operating items, net	486	429
Intercompany expenses	0	0
Total operating costs and expenses	510,474	470,128
Selling, general and administrative	91,613	81,851
Maintenance and utilities	26,399	23,848
Depreciation and amortization	53,964	47,653
Corporate expense	20,798	17,907
Project development, preopening and writedowns	2,972	1,841
Equity in earnings (losses) of subsidiaries	0	0
Operating income	94,868	82,250
Other expense (income)
Interest expense, net	43,214	52,568
Loss on early extinguishments and modifications of debt	156	427
Other, net	(111)	(77)
Total other expense, net	43,481	53,072
Income (loss) before income taxes	51,387	29,178
Income tax provision	(16,273)	(7,618)
Income (Loss) from Continuing Operations Attributable to Parent	35,114	21,560
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	375	11,630
Net income	35,489	33,190
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	36,060	33,712
Parent
Condensed Financial Statements, Captions [Line Items]
Net revenues	18,710	31,201
Costs and Expenses
Operating	0	450
Impairments of assets		1,440
Other operating items, net	75	106
Intercompany expenses	301	301
Total operating costs and expenses	24,183	33,526
Selling, general and administrative	6	12,386
Maintenance and utilities	0	0
Depreciation and amortization	2,682	1,778
Corporate expense	19,864	16,309
Project development, preopening and writedowns	1,255	756
Equity in earnings (losses) of subsidiaries	66,599	68,519
Operating income	61,126	66,194
Other expense (income)
Interest expense, net	42,839	32,928
Loss on early extinguishments and modifications of debt	156	0
Other, net	0	(1)
Total other expense, net	42,995	32,929
Income (loss) before income taxes	18,131	33,265
Income tax provision	17,358	(75)
Income (Loss) from Continuing Operations Attributable to Parent	35,489	33,190
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	0	0
Net income	35,489	33,190
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	36,060	33,712
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net revenues	598,102	545,832
Costs and Expenses
Operating	303,384	284,150
Impairments of assets		0
Other operating items, net	411	323
Intercompany expenses	23,256	36,116
Total operating costs and expenses	494,279	457,592
Selling, general and administrative	89,601	67,721
Maintenance and utilities	26,101	23,535
Depreciation and amortization	50,283	44,759
Corporate expense	364	461
Project development, preopening and writedowns	879	527
Equity in earnings (losses) of subsidiaries	(129)	(361)
Operating income	103,694	87,879
Other expense (income)
Interest expense, net	369	19,634
Loss on early extinguishments and modifications of debt	0	427
Other, net	(127)	(93)
Total other expense, net	496	20,154
Income (loss) before income taxes	103,198	67,725
Income tax provision	(34,788)	(7,522)
Income (Loss) from Continuing Operations Attributable to Parent	68,410	60,203
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	375	11,630
Net income	68,785	71,833
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	69,356	72,355
Non-Guarantor Subsidiaries (100% Owned)
Condensed Financial Statements, Captions [Line Items]
Net revenues	12,093	12,125
Costs and Expenses
Operating	10,858	10,559
Impairments of assets		0
Other operating items, net	0	0
Intercompany expenses	0	365
Total operating costs and expenses	15,575	15,790
Selling, general and administrative	2,012	1,742
Maintenance and utilities	298	313
Depreciation and amortization	999	1,116
Corporate expense	570	1,137
Project development, preopening and writedowns	838	558
Equity in earnings (losses) of subsidiaries	0	0
Operating income	(3,482)	(3,665)
Other expense (income)
Interest expense, net	6	6
Loss on early extinguishments and modifications of debt	0	0
Other, net	(16)	(17)
Total other expense, net	(10)	(11)
Income (loss) before income taxes	(3,472)	(3,654)
Income tax provision	1,157	(21)
Income (Loss) from Continuing Operations Attributable to Parent	(2,315)	(3,675)
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	0	0
Net income	(2,315)	(3,675)
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	(2,315)	(3,675)
Non-Guarantor Subsidiaries (Not 100% Owned)
Condensed Financial Statements, Captions [Line Items]
Net revenues	0	0
Costs and Expenses
Operating	0	0
Impairments of assets		0
Other operating items, net	0	0
Intercompany expenses	0	0
Total operating costs and expenses	0	0
Selling, general and administrative	0	0
Maintenance and utilities	0	0
Depreciation and amortization	0	0
Corporate expense	0	0
Project development, preopening and writedowns	0	0
Equity in earnings (losses) of subsidiaries	0	0
Operating income	0	0
Other expense (income)
Interest expense, net	0	0
Loss on early extinguishments and modifications of debt	0	0
Other, net	0	0
Total other expense, net	0	0
Income (loss) before income taxes	0	0
Income tax provision	0	0
Income (Loss) from Continuing Operations Attributable to Parent	0	0
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	0	0
Net income	0	0
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	0	0
Eliminations
Condensed Financial Statements, Captions [Line Items]
Net revenues	(23,563)	(36,780)
Costs and Expenses
Operating	0	0
Impairments of assets		0
Other operating items, net	0	0
Intercompany expenses	(23,557)	(36,782)
Total operating costs and expenses	(23,563)	(36,780)
Selling, general and administrative	(6)	2
Maintenance and utilities	0	0
Depreciation and amortization	0	0
Corporate expense	0	0
Project development, preopening and writedowns	0	0
Equity in earnings (losses) of subsidiaries	(66,470)	(68,158)
Operating income	(66,470)	(68,158)
Other expense (income)
Interest expense, net	0	0
Loss on early extinguishments and modifications of debt	0	0
Other, net	0	0
Total other expense, net	0	0
Income (loss) before income taxes	(66,470)	(68,158)
Income tax provision	0	0
Income (Loss) from Continuing Operations Attributable to Parent	(66,470)	(68,158)
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	0	0
Net income	(66,470)	(68,158)
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	(67,041)	(68,680)
Corporate expense
Costs and Expenses
Corporate expense	$ (18,163)	$ (15,185)

Condensed Consolidating Finan56

Condensed Consolidating Financial Information (Cash Flows) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities
Net cash from operating activities	$ 112,045	$ 80,376
Cash flows from investing activities
Capital expenditures	(80,038)	(35,297)
Net activity with affiliates	0	0
Advances pursuant to development agreement	(35,108)	0
Other investing activities	44	5
Net cash used in investing activities	(115,102)	(35,292)
Cash flows from financing activities
Borrowings under bank credit facility	256,700	319,100
Payments under bank credit facility	(275,063)	(645,075)
Proceeds from issuance of senior notes	0	750,000
Debt issue costs	(1,889)	(12,996)
Net activity with affiliates	0	0
Share-based compensation activities, net	(3,826)	(1,387)
Proceeds from (Payments for) Combined Other Financing Activities	(95)
Net cash provided by (used in) financing activities	(24,173)	409,642
Cash flows from operating activities	(255)	2,654
Cash flows from investing activities	630	0
Cash flows from financing activities	0	0
Net cash provided by discontinued operations	375	2,654
Cash and cash equivalents, beginning of period	193,862	158,821
Cash and cash equivalents, end of period	(193,862)	(158,821)	$ (167,007)	$ (616,201)
Net change in cash and cash equivalents	(26,855)	457,380
Parent
Cash flows from operating activities
Net cash from operating activities	22,216	(35,967)
Cash flows from investing activities
Capital expenditures	(57,069)	(11,143)
Net activity with affiliates	0	0
Advances pursuant to development agreement	0
Other investing activities	0	0
Net cash used in investing activities	(57,069)	(11,143)
Cash flows from financing activities
Borrowings under bank credit facility	256,700	223,900
Payments under bank credit facility	(275,063)	(530,350)
Proceeds from issuance of senior notes		750,000
Debt issue costs	(1,889)	(12,996)
Net activity with affiliates	59,547	120,188
Share-based compensation activities, net	(3,826)	(1,387)
Proceeds from (Payments for) Combined Other Financing Activities	(50)
Net cash provided by (used in) financing activities	35,419	549,355
Cash flows from operating activities	0	0
Cash flows from investing activities	0	0
Cash flows from financing activities	0	0
Net cash provided by discontinued operations	0	0
Cash and cash equivalents, beginning of period	1,212	2
Cash and cash equivalents, end of period	(1,212)	(2)	(1,778)	(502,247)
Net change in cash and cash equivalents	566	502,245
Guarantor Subsidiaries
Cash flows from operating activities
Net cash from operating activities	107,207	104,588
Cash flows from investing activities
Capital expenditures	(22,951)	(23,987)
Net activity with affiliates	(111,053)	(108,572)
Advances pursuant to development agreement	0
Other investing activities	44	5
Net cash used in investing activities	(133,960)	(132,554)
Cash flows from financing activities
Borrowings under bank credit facility	0	95,200
Payments under bank credit facility	0	(114,725)
Proceeds from issuance of senior notes		0
Debt issue costs	0	0
Net activity with affiliates	0	0
Share-based compensation activities, net	0	0
Proceeds from (Payments for) Combined Other Financing Activities	(45)
Net cash provided by (used in) financing activities	(45)	(19,525)
Cash flows from operating activities	(255)	2,654
Cash flows from investing activities	630	0
Cash flows from financing activities	0	0
Net cash provided by discontinued operations	375	2,654
Cash and cash equivalents, beginning of period	189,364	156,116
Cash and cash equivalents, end of period	(189,364)	(156,116)	(162,941)	(111,279)
Net change in cash and cash equivalents	(26,423)	(44,837)
Non-Guarantor Subsidiaries (100% Owned)
Cash flows from operating activities
Net cash from operating activities	(18,104)	11,771
Cash flows from investing activities
Capital expenditures	(18)	(167)
Net activity with affiliates	0	0
Advances pursuant to development agreement	(35,108)
Other investing activities	0	0
Net cash used in investing activities	(35,126)	(167)
Cash flows from financing activities
Borrowings under bank credit facility	0	0
Payments under bank credit facility	0	0
Proceeds from issuance of senior notes		0
Debt issue costs	0	0
Net activity with affiliates	52,232	(11,632)
Share-based compensation activities, net	0	0
Proceeds from (Payments for) Combined Other Financing Activities	0
Net cash provided by (used in) financing activities	52,232	(11,632)
Cash flows from operating activities	0	0
Cash flows from investing activities	0	0
Cash flows from financing activities	0	0
Net cash provided by discontinued operations	0	0
Cash and cash equivalents, beginning of period	3,286	2,482
Cash and cash equivalents, end of period	(3,286)	(2,482)	(2,288)	(2,454)
Net change in cash and cash equivalents	(998)	(28)
Non-Guarantor Subsidiaries (Not 100% Owned)
Cash flows from operating activities
Net cash from operating activities	254	0
Cash flows from investing activities
Capital expenditures	0	0
Net activity with affiliates	0	0
Advances pursuant to development agreement	0
Other investing activities	0	0
Net cash used in investing activities	0	0
Cash flows from financing activities
Borrowings under bank credit facility	0	0
Payments under bank credit facility	0	0
Proceeds from issuance of senior notes		0
Debt issue costs	0	0
Net activity with affiliates	(254)	0
Share-based compensation activities, net	0	0
Proceeds from (Payments for) Combined Other Financing Activities	0
Net cash provided by (used in) financing activities	(254)	0
Cash flows from operating activities	0	0
Cash flows from investing activities	0	0
Cash flows from financing activities	0	0
Net cash provided by discontinued operations	0	0
Cash and cash equivalents, beginning of period	0	221
Cash and cash equivalents, end of period	0	(221)	0	(221)
Net change in cash and cash equivalents	0	0
Eliminations
Cash flows from operating activities
Net cash from operating activities	472	(16)
Cash flows from investing activities
Capital expenditures	0	0
Net activity with affiliates	111,053	108,572
Advances pursuant to development agreement	0
Other investing activities	0	0
Net cash used in investing activities	111,053	108,572
Cash flows from financing activities
Borrowings under bank credit facility	0	0
Payments under bank credit facility	0	0
Proceeds from issuance of senior notes		0
Debt issue costs	0	0
Net activity with affiliates	(111,525)	(108,556)
Share-based compensation activities, net	0	0
Proceeds from (Payments for) Combined Other Financing Activities	0
Net cash provided by (used in) financing activities	(111,525)	(108,556)
Cash flows from operating activities	0	0
Cash flows from investing activities	0	0
Cash flows from financing activities	0	0
Net cash provided by discontinued operations	0	0
Cash and cash equivalents, beginning of period	0	0
Cash and cash equivalents, end of period	0	0	$ 0	$ 0
Net change in cash and cash equivalents	$ 0	$ 0

Condensed Consolidating Finan57

Condensed Consolidating Financial Information (Narrative) (Details) - Parent	Mar. 31, 2017	Dec. 31, 2016	Mar. 28, 2016
Debt Instrument [Line Items]
Subsidiaries, Ownership Percentage			100.00%
Senior Notes | 6.875 % Senior Notes Due 2023
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.875%	6.88%
Senior Notes | 6.375% Senior Notes Due 2026
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.375%	6.38%