AR07

Fellow Shareholders Every company measures success in different ways. Whether it’s financial performance, market-leading properties, customer loyalty, employee satisfaction, or triumphs over the everyday challenges in today’s business environment, the threads of success are many, encompassing all facets of our business. At , measuring our success has long been about focusing on the big picture and positioning the Company for future growth. Our goal is to create long-term, sustainable growth, positioning Boyd Gaming as a leading entertainment company. Our commitment to executing on the strategies that define our Company brings us closer to reaching our goals, both financially and philosophically. As we review the last year, the ties that bind our Company’s success to a promising future are far reaching, and include many milestone moments. From high-level changes in our management team, the commencement of construction on the most ambitious development in our history, the continued progress on two key expansion projects, to our new branding initiative, we’re making momentous progress as we prepare Boyd Gaming for an exciting and successful future. A n n u a l r e p o r t 2 0 0 7 A n n u a l r e p o r t 2 0 0 7 TOC LETTER 2 3 May ‘01 Boyd Gaming acquires Racetrack in Vinton, Louisiana and adds October ‘93 a casino to the operation The Boyd Group becomes February ‘04 in February 2002. In a blockbuster merger, Coast , a publicly traded company Inc becomes a wholly-owned subsidiary on the New York Stock November ‘99 of Boyd Gaming and immediately Exchange and changes its Boyd Gaming acquires positions the Company as a leading name to Boyd Gaming Blue Chip Casino in June ‘07 Locals operator. Corporation, trading May ‘94 – Dec.’96 Michigan City, Indiana. Boyd Gaming begins under the symbol BYD. During these two years, Boyd July ‘03 construction of Echelon, Gaming opens or acquires Borgata opens in Atlantic our multi-property resort six new properties, more City, featuring premier destination planned for than doubling the size of dining, top-notch enter- the . the Company. September ‘00 tainment, Vegas-style Boyd Gaming begins construction gaming, upscale shopping of Borgata at Renaissance Pointe. and indulgent luxury.

Last year’s financial results perform the Downtown market. is indicative of our strong The proof is in the 395 In July, we announced that Building a Strong reflect the ups and downs we Our Las Vegas Locals business operating base and experienced “Best of” awards Boyd Gaming Bill Boyd would step aside as faced in a year of exciting remained resilient in the face of management team. We see much properties earned in 2007 from Chief Executive Officer at the advancement, reinforcing our a weakening economy toward brighter days ahead, as two key Casino Player and Strictly Slots end of the year, allowing him position as a leading casino the end of the year, posting growth initiatives are expected magazines, including more than to focus on one of his favorite entertainment company. three consecutive quarters of to be completed in 2008. 150 first-place nods. We were aspects of our business, inter- There’s no question 2007 year-over-year growth begin- particularly proud of this acting with the employees and wasn’t without challenges. In ning in the second quarter Building a recognition because they’re customers of Boyd Gaming. northwest Indiana, our Blue 2007. Borgata remained the great company based directly on the votes That transition occurred on Chip Casino was leader in Atlantic City, even of casino customers across January 1, 2008, as Bill moved 2 shareholders letter significantly impacted by the while the market lost ground From our earliest beginnings the country. into the newly established 6 the water club opening of a new competitor. in the face of new competition in the 1970s, we made a Leadership is also an integral position of Executive Chairman 8 blue chip The closure of the Stardust in Pennsylvania. commitment to our shareholders part of our Boyd Style of hospi- and turned over the Chief in 2006 impacted last year’s tality. As successful as the Executive reins to long-time 10 echelon Although the weakening and our employees to create financial results, as did the con- economy impacted customer an operating style built around past decades have been, our Company veteran Keith Smith. 12 market segment tinued normalization of results behavior late in the year, our family. This style has come to Company continues to grow Keith was succeeded as Chief 14 property overview at Treasure Chest Casino. results from 2007 showed the set our business apart from and evolve, and we saw this year Operating Officer by Paul 16 management team At the same time, a number effectiveness of our strategy of the rest of the field. In a highly as the ideal moment to begin a Chakmak, formerly our Chief 18 business of encouraging trends developed geographic diversification. And competitive industry, our Boyd transition in leadership. In that Financial Officer; replacing Paul 21 extras last year despite these challenges. in spite of multiple challenges, Style of hospitality has come to regard, we announced several as Chief Financial Officer was 22 property directory Our several of our operations showed define us in a most unique way. strategic changes at the highest Josh Hirsberg, who brings 17 properties continued to out- year-over-year growth, which levels of our management team years of financial experience in in 2007. the gaming industry. A n n u a l r e p o r t 2 0 0 7 LETTER 4 5

As our new Chief Executive, In December, Echelon In both Indiana and New We are creating a Building for the introduction of our One Our milestone moments Keith has an ambitious task launched The Meeting Center, Jersey, we face heightened the future Card is a key step forward from the last year are the ahead… lead Boyd Gaming our 650,000 square-foot competition, but we anticipated destination resort that for our Company, and one threads of success shaping in a period of unprecedented convention center scheduled that dynamic by planning to will be seen for miles, Success rarely happens that will unify our casinos our future, one we believe is growth, as we bring a number to open with Echelon in the expand those operations with without challenges, and the and drive cross-property bright and promising. Our of ambitious new projects to third quarter 2010. The launch projects that we believe will and yet, be accessible story of our Company is visitation nationwide. The employees have been central fruition in key gaming markets. of our meeting and convention strengthen our competitive within feet. With highlighted by triumph in first phase began in January to our success, and much like The most exciting of these sales effort at Echelon is a key positions in these markets. the face of adversity time and 2008 when our four Las Vegas the first three decades of our new developments is on the milestone, as it represents the We remain optimistic Echelon, we are time again. Our decades-long Locals casinos… Sam’s Town, Company, we are charting Las Vegas Strip, where in 2007 earliest signs of life for a resort about our long-term prospects making the most of track record speaks volumes Suncoast, and a course, leading us to a we commenced construction experience that is still under in northwest Indiana, as about our ability to persevere Gold Coast… were unified bright future. on what promises to be one of construction. construction continues on a our extraordinary and succeed under the most under a new Club Coast our greatest achievements in The demographic trends $130 million expansion project extreme circumstances. The players card program. our history… Echelon. of Las Vegas are expanding at Blue Chip in Michigan City. and highly-visible current period of challenge Now underway is the second As our most ambitious and to include more upscale This project will add a dramatic Las Vegas Strip site and transition is no different, phase of the rollout. The upscale destination to date, leisure and business travelers. 22-story, 300-room hotel and we are building the Connected program introduces Echelon will span 87 acres, According to industry statistics, tower to Blue Chip that will by building five foundation today for a much a single players club program including 22 acres available vacationers seeking luxury transform the Michigan City with world stronger Boyd Gaming, well- for our six casino properties for future development. It will experiences are currently skyline when it opens in positioned for what we believe in the Midwest and South. include five distinct hotels, an underserved in Las Vegas, December 2008. class amenities, in will be a period of substantial, Once the rollout is complete, extensive array of dining, night- while convention visitors have Our investment in Atlantic one dramatic phase. sustained growth. players will be able to use life, shopping and entertainment increased at nearly three times City is growing as well, as we Ready access to capital is their cards at Boyd Gaming Thank you for your support. We look experiences, and more than the rate of leisure visitors ready to open The Water Club the lifeblood of any growing properties in five states: , forward to sharing more with you as 750,000 square feet of meeting since 1990. at Borgata. This $400 million, William S. Boyd company, and our credit Illinois, Indiana, Louisiana and convention space. Assisting Echelon is aimed squarely 800-room hotel will be Atlantic Executive Chairman position is as strong as ever. and Mississippi. we build for the next era of growth. us in bringing this exciting at these market segments. City’s first boutique hotel In May, we secured a new Forging ahead in the vision to life are some of the With this resort, we will be experience and is expected to $4 billion revolving credit coming year, we will remain Sincerely, most powerful and respected able to offer upscale visitors a further solidify Borgata’s posi- facility that provides us capital focused on our three main strategic partners from around wide range of fun and unique tion as a premiere destination at extremely attractive rates, an goals… improving our oper- the globe, including Morgans entertainment experiences. resort. Set for completion in important advantage in what ating performance, continuing Hotel Group, Shangri-La Hotels No two visits to Echelon need June 2008, The Water Club has become an increasingly to execute on our current and Resorts, AEG Live and be the same, an advantage we will feature five swimming difficult credit market. growth strategy, and rolling General Growth Properties. believe will compel loyalty pools, a dramatic “Spa in the After nearly a year of strategic out our branding initiatives. and repeat visitation among Sky,” and additional meeting planning, we have begun We remain confident in the the broadest possible range of and retail space. the rollout of our One Card strength of our Company upscale travelers. branding initiative, with a to successfully meet whatever nationwide, consolidated challenges lie ahead. players club program central to our effort. We believe that

William S. Boyd Keith E. Smith Executive Chairman President and Chief Executive Officer

Opening June 2008, The Water Club – a signature hotel by Borgata – will introduce a new brand of hospitality to Atlantic City. The Water Club will offer a uniqueBORGATA personality of its own, while offering direct access to and from the entertainment, nightlife and dining experiences of Borgata Hotel Casino and Spa.

p e nShortly i n g after we opened Borgata, we announced our plans for The Water Club, recognizing the high consumer demand for a second hotel under O the Borgata brand of hospitality. The Water Club will continue Borgata’s efforts in redefining Atlantic City as a travel destination by introducing a new, uncharted hotel experience to the market. Glass-enclosed Italian marble showers, high-definition flat-panel televisions, 400-thread-count Egyptian cotton sheets, and his-and-hers bathrobes and slippers are just a handful of the luxuries that will be found in each of The

er Club Water Club’s 800 finely-appointed guestrooms and suites. But the pampering and amenities won’t stop there. t The 43-story, $400 million hotel will also feature a two-story “spa in the sky;”18,000 square feet of meeting space; three chic Residences; five heated pools (both indoor and outdoor), each offering a distinct experience; and six designer retail outlets. Conceived as an exclusive extension to the sophisticated, international style that already defines Borgata, The Water Club will offer a serenely cosmopolitan setting, blending high design and modern amenities within an intimate and highly-personalized guest experience. The element of water will introduce the notion of vitality and set the overall aesthetic tone. The debut of The Water Club will complete Borgata’s $1.7 billion master plan development and allow more guests than ever before to experience

on theSchedule luxury for lifestyle june that defines Borgata. The Wa Blue Chip Casino Hotel Receives Economic Development Award

Blue Chip offers exhilarating casino excitement in a comfortable, Chamber of Commerce President Tim Bietry presented the In February 2008, Blue Chip Casino customer-friendly setting. Located an hour’s drive east of Chicago 2007 President’s Award in honor of the $300 million investment Hotel was recognized for outstanding in Michigan City, Indiana, Blue Chip features a 65,000-square-foot, Blue Chip has made to Michigan City’s North End. This investment single-level casino, a 102,000-square-foot pavilion with three includes $170 million for its new casino, which opened in 2006, leadership in economic development restaurants,a coffee bar, gift shop, entertainment lounge and a and the current hotel expansion project. The custom award-winning 184-room hotel. In early 2007, construction began on a $130 million design depicts Blue Chip’s new hotel tower, which is currently under by the Michigan City Area Chamber expansion that will include a 22-story, 300-room hotel tower, a spa construction. When finished in December 2008, the Blue Chip Hotel of Commerce. and fitness center, additional meeting and convention facilities and will be one of the tallest structures in the northwest Indiana region. new nightlife and dining experiences. In December, Echelon began accepting group bookings for The Meeting Center, a 650,000- square-foot convention center scheduled to open in the third quarter 2010.

The launch of our meeting and convention sales effort is a key milestone in the development of Echelon. We conducted extensive qualitative and quan- titative research to understand the needs of meeting planners in order to craft a beautifully designed, highly versatile meeting and convention facility.

Conceived from the beginning T he Meeting Center as an integral element of the master-planned Echelon, The Meeting Center will feature both dedicated entrances and convenient access to a diverse array of entertainment, dining, nightlife, shopping and lodging experiences. The Meeting Center’s immediate proximity to the five premium hotels of Echelon will help to minimize the waiting and walking that has become synonymous with other large-scale megaresorts. The Meeting Center design focuses Echelon Launches on technology, superior access, versatility, proximity, and flexibility.

The creation of a fully integrated environment for meetings and conventions, one that will operate in complete harmony with the other elements of Echelon, has been central to our vision from the outset. a n n u a l r e p o r t 2 0 0 7 Market Segments 12 13

B New Jersey Las Vegas Strip Midwest and South D A1 Echelon B Blue Chip Casino Hotel H C Delta Downs Racetrack Downtown Las Vegas Indiana Casino and Hotel A2 California Hotel and Casino Illinois D Par-A-Dice Hotel Casino New Jersey A3 E Sam’s Town Hotel H1 Borgata Hotel Casino A4 Main Street Station and Casino and Spa Casino Brewery and Hotel F Sam’s Town Hotel and H2 The Water Club Las Vegas Locals Gambling Hall Nevada A5 Gold Coast Hotel and Casino G Treasure Chest Casino A6 The Orleans Hotel and Casino A7 Sam’s Town Hotel and Gambling Hall A8 Suncoast Hotel and Casino F A9 Eldorado Casino A10

E A Mississippi A Balanced Portfolio of Properties Louisiana C G Financial results from 2007 show the effectiveness of our geographic diversification strategy.

A1 A2 A3 A4 B C D E

A5 A6 A7 A8 A9 A10 F G H1 H2 a n n u a l r e p o r t 2 0 0 7 PROPERTY OVERVIEW 14 15

From local charm and simple indulgences, to ultimate luxury and nonstop action, each of our properties offers a distinctive experience. A winning combination

Las Vegas Strip Midwest and South New Jersey Echelon Main Street Station Sam’s Town Hotel and Blue Chip Casino Hotel Sam’s Town hotel Borgata hotel casino Scheduled to open in the third Casino, Brewery Gambling Hall This Michigan City, Indiana, and casino and Spa quarter 2010, Echelon will include and Hotel This was Las Vegas’ first “locals” property is in the midst of a This Louisiana (Shreveport) treasure Borgata is home to world-class five unique hotels and spas, each This property features modern casino when it debuted on the $130 million expansion set to features a health club, spa and amenities including a luxurious offering a distinct luxury experi- gaming amidst a turn-of-the- Boulder Strip in 1979. It features open in December 2008. It already salon with a state-of-the-art fitness European spa, retail boutiques, a ence. Amenities will include a century atmosphere and is a 25,000-square-foot indoor park, has been voted “Best Casino” in center, steam room and a full high-action casino and the largest spacious casino, retail promenade, consistently recognized in the bowling center, movie theater numerous categories by readers range of spa services. The concierge poker room in Atlantic City. dining and nightlife venues, annual Las Vegas Review- and one of the largest casino floors of the South Bend Tribune floor and lounge offers exclusive Approximately 70,000 square feet We’re building extensive meeting and convention Journal’s “Best of Las Vegas” in Las Vegas. and Post Tribune newspapers, access and special services for of event and convention space space, and two theaters hosting for “Best Downtown Hotel Suncoast hotel and Strictly Slots magazine. VIP guests. plays host to some of the biggest on a strong top entertainers. and Casino.” and casino Par-A-Dice Hotel Casino Treasure Chest Casino acts in the entertainment business. The hotel at Suncoast features Located in East Peoria, Illinois, Located in the New Orleans And with the addition of The foundation and Downtown Las Vegas Las Vegas Locals more than 400 rooms and suites Par-A-Dice has been named “Best suburb of Kenner, Treasure Chest Water Club, Borgata will help to California Hotel gold coast Hotel complete with floor-to-ceiling Casino” by readers of Illinois features 24,000 square feet of redefine Atlantic City as a leading the strength of and Casino and Casino windows. In addition to movies, Magazine and “Best Hotel in the dockside casino action along travel destination. our Company is This Hawaiian-themed property Nestled within the casino action bowling and showroom entertain- Midwest” by the Heart of Illinois Lake Pontchartrain. in downtown Las Vegas caters to at this property is a spacious, ment, the property is surrounded Hospitality Association. Sam’s Town hotel and a unique market niche with comfortable race and sports book, setting the stage by 81 holes of world-class golf. Delta Downs Racetrack gambling hall a majority of all hotel guest trips featuring 43 color screens broad- Eldorado Casino Casino and Hotel Mississippi is the nation’s third for a bright future. originating from Hawaii. casting major events from all over Live thoroughbred and quarter largest gaming market, behind the world. Located in downtown Henderson, Fremont Hotel the charming Eldorado features a horse racing nine months a year Nevada and New Jersey. Sam’s Keith E. Smith and Casino The Orleans Hotel recently remodeled video poker is a hallmark of this Vinton, Town Tunica features one of the President and Chief Fremont was Nevada’s first high- and Casino bar, Tequila Falls, with multiple Louisiana property, and the elegant largest hotels in northwest Missis- Executive Officer rise when it opened in 1956. The 9,500-seat 36-inch televisions and mouth- Outlook Steakhouse offers sippi and hosts several top-name The property is centrally located adjoins the casino hotel property watering margaritas. magnificent views of the track. entertainers at its 1,600-seat River within the and offers top-name entertainment Jokers Wild Casino A $65 million expansion was Palace Arena. Experience, which features nightly and special events. Bowling, movies, completed in early 2005. entertainment and light shows. eight full-service restaurants, Spa On the Boulder Strip, Jokers Wild Orleans and an 850-seat showroom features live poker, keno, bingo and round out The Orleans’ offerings. a sports book. It has been recognized by the Better Business Bureau of Southern Nevada for its excellence and commitment to providing the highest quality service. a n n u a l r e p o r t 2 0 0 7 management team 16 17

management committee

William S. Boyd Marianne Johnson Keith E. Smith Paul J. Chakmak Robert L. Boughner Brian A. Larson William R. Boyd Executive Chairman Vice Chair and Executive President and Chief Executive Vice President and President and Chief Executive Executive Vice President, Vice President Vice President Executive Officer Chief Operating Officer Officer, Echelon Resorts LLC Secretary and General Counsel

board of directors William S. Boyd Marianne Johnson Keith E. Smith Robert L. Boughner William R. Boyd Thomas V. Girardi Executive Chairman of Vice Chair and Executive Vice President and Chief President and Chief Executive Vice President, Boyd Gaming Partner, Girardi and Keese the Board, Boyd Gaming President, Boyd Gaming Executive Officer, Officer, Echelon Resorts LLC Boyd Gaming

Luther Mack Jr. Michael O. Maffie Billy G. McCoy Frederick J. Schwab Peter M. Thomas Veronica J. Wilson Former Chairman Nevada Former Chief Executive Major General USAF (Ret) Former President and Managing Director, President and Chief Athletic Commission, Officer, Southwest Gas Director, Former Chairman, Chief Executive Officer, Thomas & Mack Co. LLC Executive Officer, President and Chief Corporation Quartz Mountain Aerospace Porsche Cars North America, Inc Blind Center of Nevada Executive Officer, Mack Associates, Inc. $41.65 $47.66 a n n u a l r e p o r t 2 0 0 7 $45.31 BUSINESS $34.07 18

$16.14

$ $13.37 14.05

$6.50 $10.75 $11.62

$8.25 $6.62 $5.81 $3.31

‘93 ‘94 ‘95 ‘96 ‘97 ‘98 ‘99 ‘01 ‘02 ‘03 ‘04 ‘05 ‘06 ‘07

Investor Information

Stock Listing News Releases Independent Registered Investor Contacts This Annual Report is accompanied by our Annual Report on Form 10-K, which was filed with the Securities The common stock of Boyd As a service to our stockholders Public Accounting Firm Financial Contact and Exchange Commission on February 29, 2008, and is incorporated herein by reference and is a part of Gaming Corporation is listed on and prospective investors, Deloitte & Touche LLP Josh Hirsberg this Annual Report. the New York Stock Exchange. Its additional company information, 3883 Howard Hughes Parkway Senior Vice President, Forward-Looking Statements: This Annual Report contains forward-looking statements within the meaning symbol is BYD. As of February 29, including news releases, earnings Fourth Floor Chief Financial Officer of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act 2008, there were 949 stockholders announcements and corporate Las Vegas, NV 89169 and Treasurer of 1934, as amended. Such statements contain words such as “may,” “will,” “expect,” “believe,” “anticipate,” of record. governance, is available at 702.893.3100 702.792.7234 “could,” “would,” “estimate,” “pursue,” “continue,” or the negative thereof or comparable terminology, and boydgaming.com. [email protected] may include (without limitation) our expectations, hopes, beliefs, or intentions regarding the future, including, but not limited to, statements regarding our business, business strategies, competition, growth and prospects, industry statistics, expansion and development projects (including estimated cost and completion or opening Annual Meeting Common Stock Transfer Boyd Gaming Corporation Media Contact dates for each), branding initiatives, profitability and industry and market growth. Forward-looking state- 3883 Howard Hughes Parkway Rob Stillwell The annual meeting of stockholders Agent and Registrar ments involve certain risks and uncertainties, and actual results may differ materially from those discussed of Boyd Gaming Corporation will Wells Fargo Shareowner Services Ninth Floor Vice President, Corporate in any such statement. Factors that could cause actual results to differ materially from such forward-looking be held on Thursday, May 15, 161 North Concord Exchange Las Vegas, NV 89169 Communications statements include those factors set forth from time to time in our SEC reports, including those set forth in the 2008 at 11:00 a.m. Local Time South St. Paul, MN 55075 702.792.7200 702.792.7353 section entitled “Risk Factors” in our Form 10-K for the year ended December 31, 2007 (which is included at the Suncoast Hotel and Casino 800.468.9716 [email protected] as part of this Annual Report). All forward-looking statements in this Annual Report are made as of the date in Las Vegas, Nevada. The record wellsfargo.com/shareownerservices hereof, based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward-looking statement. date for the meeting is the close of business on March 24, 2008. a n n u a l r e p o r t 2 0 0 7 a n n u a l r e p o r t 2 0 0 7 BUSINESS extras 20 21

Boyd Gaming recieves nearly 400 “Best” awards in 2007 Winning accolades from casino New Laundry Facility is customers across the country, Boyd Gaming properties, including Borgata, received 210 awards in Casino Player magazine’s 2007 “Best of Stock Performance Graph BYD Gaming” edition and 185 MID CAP 400 We have completed construction of a full-service Boyd Gaming The performance graph compares the cumulative total stockholder return of Boyd Gaming awards in Strictly Slots 2007 Peer with the cumulative total returns of (i) Standard & Poor’s Mid-Cap 400 Index, which is laundry facility on the Boulder Strip – just south of Sam’s Town Group magazine’s 2007 “Best of Slots” referred to as the “Mid-Cap 400”, and (ii) a peer group of entities, which is referred to – which is serving all of Boyd Gaming’s Las Vegas and Henderson, competition. More than 150 as the “2007 Peer Group.” Boyd Gaming’s peer group for 2006 included three entities 352 Nevada properties. that are no longer publicly traded, and have therefore been excluded from the 2007 were first-place awards. The Company posted particularly Peer Group. Boyd Gaming’s 2007 Peer Group consists of Isle of Capri Casinos, Inc., Boyd Linen and Uniform Service not only improves operating Ameristar Casinos, Inc. and Entertainment, Inc. The performance graph assumes strong performances in the 273 that, on December 31, 2002, $100 was invested efficiency among the properties, it makes a significant environmental Atlantic City, Las Vegas Locals, 268 MID 2007 Peer in our common stock, in the Mid-Cap 400 contribution to the community. It is a candidate for LEED Silver Downtown Las Vegas and BYD CAP 400 Group and in the common stock of the 2007 Peer 256 Certification, pending final review. The Leadership in Energy and Shreveport-Bossier City markets. Group. In accordance with guidelines of the ™ 2002 100 100 100 Environmental Design (LEED) Green Building Rating System is SEC, the stockholder return for each entity in In Atlantic City, “Borgata 162 2003 116 134 162 the 2007 Peer Group index has been weight- the nationally accepted benchmark for the design, construction and continues its uninterrupted 2004 303 154 256 ed on the basis of market capitalization as of operation of high-performance green buildings. reign as the Best Overall Hotel the beginning of the period. Each period 2005 350 172 273 Casino in town,” according presented in the graph is as of 12/31. The We hope it will set an example for our industry and others that to Casino Player magazine. 2006 337 187 352 stock price performance shown in this graph is operate similar facilities, and it is already garnering attention. Boyd All told, Borgata garnered 80 2007 256 200 268 neither necessarily indicative of, nor intended Gaming received a 2007 Henderson (Nevada) Economic Development awards from both magazines. to suggest, future stock price performance. Award for the new facility. In Shreveport, Sam’s Town dominated the market with a When Echelon opens, the 100,000-square-foot facility has been total of 68 awards. Sam’s Town designed to handle more than 140,000 pounds of laundry per day. Las Vegas dominated the Las Vegas Locals market, earning 54 awards, including Strictly Dividends and Stock Prices Slots’ coveted title of “Best Overall Hotel Casino.” The ranges of high and low closing sales prices of the Company’s stock on New York Stock Exchange Corporate Governance Pursuant to Section 303A.12 (a) the New York Stock Exchange for the last two fiscal years are as follows: of the NYSE Listed Company Manual, Boyd Gaming’s CEO must certify to the NYSE Main Street Station garnered each year (i) whether or not he is aware of any violations of the NYSE corporate 57 awards in the Downtown governance listing standards and (ii) that the Section 302 Certifications of the Sarbanes- Las Vegas market. Oxley Act were filed with the SEC. On June 11, 2007, Mr. Boyd submitted the Annual CEO Certification to the NYSE, which stated that he was not aware of any violations. Environmentally-friendly aspects of Each award received is a great Additionally, on February 29, 2008 Boyd Gaming filed its Form 10-K with the SEC for the year ended 2007, which included the Section 302 certifications as exhibits. the new laundry facility include: honor, as it represents the voice of casino customers from coast to Natural enzyme-based detergents that are gentler on the environment than coast. Our strong performance chemical-based products, emitting fewer toxins in wastewater. is a tribute not only to the Specially selected detergents allow for lower-temperature washing, quality of our properties, but conserving significant energy on water heating. also to the tireless efforts of our employees. The Board of Directors initiated a quarterly dividend in July 2003 of $0.075 Approximately 75 percent of the water used is recycled, saving more than per share. In April 2007, the Board raised the quarterly dividend from 20 million gallons of water each year in a drought-stricken region. $0.135 to $0.15. Dividends are paid only when declared by the Company’s Recycled materials can be found throughout the facility, including Board of Directors. reprocessed concrete, fixtures, furniture and clothing hangers. a n n u a l r e p o r t 2 0 0 7 PROPERTIES 22

Las Vegas Strip Las Vegas Locals Midwest and South New Jersey

Echelon Gold Coast Hotel and Casino Blue Chip Casino Hotel Borgata Hotel Casino and Spa 3930 Howard Hughes Parkway, 4000 West Flamingo Road 2 Easy Street 1 Borgata Way Fifth Floor Las Vegas, NV 89103 Michigan City, IN 46360 Atlantic City, NJ 08401 Las Vegas, NV 89109 888.402.6278 888.879.7711 866.692.6742 702.888.8000 goldcoastcasino.com bluechipcasino.com theborgata.com echelonresorts.com (Opening Q3 2010) The Orleans Hotel and Casino Delta Downs Racetrack The Water Club 4500 West Casino and Hotel 1 Renaissance Way Downtown Las Vegas Las Vegas, NV 89103 2717 Delta Downs Drive Atlantic City, NJ 08401 800.675.3267 Vinton, LA 70668 800.800.8817 California Hotel and Casino orleanscasino.com 888.332.7829 thewaterclubatborgata.com 12 Ogden Avenue deltadowns.com Las Vegas, NV 89101 Sam’s Town Hotel and Executive Offices 800.634.6255 Gambling Hall Par-A-Dice Hotel Casino thecal.com 5111 Boulder Highway 21 Blackjack Boulevard Boyd Gaming Corporation Las Vegas, NV 89122 East Peoria, IL 61611 3883 Howard Hughes Parkway Fremont Hotel and Casino 800.634.6371 800.727.2342 Ninth Floor 200 East Fremont Street samstownlv.com par-a-dice.com Las Vegas, NV 89169 Las Vegas, NV 89101 702.792.7200 800.634.6182 Suncoast Hotel and Casino Sam’s Town Hotel and Casino boydgaming.com fremontcasino.com 9090 Alta Drive 315 Clyde Fant Parkway Las Vegas, NV 89145 Shreveport, LA 71101 Main Street Station Casino, 877.677.7111 877.429.0711 Brewery and Hotel suncoastcasino.com samstownshreveport.com 200 North Main Street Las Vegas, NV 89101 Eldorado Casino Sam’s Town Hotel and 800.465.0711 140 South Water Street Gambling Hall mainstreetcasino.com Henderson, NV 89015 1477 Casino Strip Resort 702.564.1811 Boulevard eldoradocasino.com Robinsonville, MS 38664 800.456.0711 Jokers Wild Casino samstowntunica.com 920 North Boulder Highway Henderson, NV 89015 Treasure Chest Casino 702.564.8100 5050 Williams Boulevard jokerswildcasino.com Kenner, LA 70065 800.298.0711 treasurechestcasino.com boydgaming.com