<SEC-DOCUMENT>0001437749-21-013540.txt : 20210701
<SEC-HEADER>0001437749-21-013540.hdr.sgml : 20210701
<ACCEPTANCE-DATETIME>20210527161802
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001437749-21-013540
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20210527

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BOYD GAMING CORP
		CENTRAL INDEX KEY:			0000906553
		STANDARD INDUSTRIAL CLASSIFICATION:	HOTELS & MOTELS [7011]
		IRS NUMBER:				880242733
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		3883 HOWARD HUGHES PARKWAY
		STREET 2:		NINTH FLOOR
		CITY:			LAS VEGAS
		STATE:			NV
		ZIP:			89169
		BUSINESS PHONE:		7027927200

	MAIL ADDRESS:	
		STREET 1:		3883 HOWARD HUGHES PARKWAY
		STREET 2:		NINTH FLOOR
		CITY:			LAS VEGAS
		STATE:			NV
		ZIP:			89169

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BOYD GROUP
		DATE OF NAME CHANGE:	19941130
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<html><head><meta charset="utf-8"><meta name="format-detection" content="telephone=no"><!--Created on 5/24/2021 7:09:32 AM --><meta name="generator" content="RDG HTML Converter 3.4.3.0">
	<title>bgc20210524_corresp.htm</title>

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<body style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; padding: 0in 0.1in; cursor: auto;">
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<div style="text-align: center;"><img alt="boydgaminglogo.jpg" src="boydgaminglogo.jpg"></div>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">May 27, 2021</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><i>Via EDGAR</i></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Securities and Exchange Commission</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">100 F Street N. E.</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Washington, D.C. 20549</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Attention: Mr. Eric McPhee</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:Times New Roman;font-size:10pt;">

		<tr>
			<td style="width: 36pt; vertical-align: top;">Re:</td>
			<td style="vertical-align:top;">
			<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"><b>Boyd Gaming Corporation</b></p>
			</td>
		</tr>
		<tr>
			<td style="width: 36pt; vertical-align: top;">&nbsp;</td>
			<td style="vertical-align:top;"><b>Form 10-K for the fiscal year ended December 31, 2020</b></td>
		</tr>
		<tr>
			<td style="width: 36pt; vertical-align: top;">&nbsp;</td>
			<td style="vertical-align:top;"><b>Filed March 1, 2021</b></td>
		</tr>
		<tr>
			<td style="width: 36pt; vertical-align: top;">&nbsp;</td>
			<td style="vertical-align:top;"><b>File No. 001-12882</b></td>
		</tr>

</table>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Dear Mr. McPhee:</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">On behalf of Boyd Gaming Corporation (the &#8220;Company&#8221;), this letter is being submitted in response to the comment received from the Staff (the &#8220;Staff&#8221;) of the Securities and Exchange Commission (the &#8220;Commission&#8221;) by letter dated May 20, 2021 with respect to the Company&#8217;s Form 10-K for the year ended December 31, 2020 (the &#8220;2020 Form 10-K&#8221;) filed on March 1, 2021. The numbering of the paragraph below corresponds to the numbering of the Staff&#8217;s letter, the text of which we have incorporated into this response letter for convenience.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b><u>Form 10-K for the fiscal year ended December 31, 2020</u></b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b><u>ITEM 7. Management's Discussion and Analysis of Financial Condition and Results of Operations</u></b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b><u>Our Key Performance Indicators, page 26</u></b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:Times New Roman;font-size:10pt;">

		<tr>
			<td style="width:36pt;">&nbsp;</td>
			<td style="vertical-align:top;width:18pt;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">1.</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">We note that you have identified several key performance measures to evaluate your gaming revenues. In the past few annual reports, we note that your disclosures have gone away from quantifying such measures and discussing the fluctuations and underlying contributing factors. Please clarify and/or consider revising future filings to resume discussion of these key performance measures and any material changes from period to period.</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b><i>Response:</i></b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">We acknowledge the Staff&#8217;s comment and respectfully advise the Staff that&nbsp;in recent reporting periods the primary drivers of gaming revenue changes have been the factors described in the Company&#8217;s filings, including incremental revenues contributed by acquisitions, when comparing 2019 financial results to 2018, and the impact on our business of COVID-19 pandemic, when comparing 2020 results to 2019. As we prepare future filings, we will review the relevant guidance to ensure compliance and revise our disclosures to the extent necessary to include appropriate discussion of any material changes in the identified key performance measures.</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: center;">* * *</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">The Company hereby acknowledges that it is responsible for the adequacy and accuracy of its disclosure in the filing reviewed by the Staff; that Staff comments or changes to disclosure in response to Staff comments in the filing reviewed by the Staff do not foreclose the Commission from taking any action with respect to the filing; and that the Company may not assert Staff comments as a defense in any proceeding initiated by the Commission or any person under the federal securities laws in the United States.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Sincerely,</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">/s/ Josh Hirsberg</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Josh Hirsberg</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Executive Vice President, Chief Financial Officer and Treasurer</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">cc:&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; A. Randall Thoman, Chairperson of the Company&#8217;s Audit Committee</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;text-indent:36pt;">Uri Clinton, Executive Vice President, Secretary and General Counsel</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;text-indent:36pt;">Brandon C. Parris, Morrison &amp; Forrester</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
