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While I wouldn't deny these challenges, there are reasons to believe that Boyd's fortunes are going to keep improving. One of the prime pathways to growth for Boyd Gaming involves acquisitions. An ongoing low-rate environment has been conducive to borrowing, which has allowed Boyd to be aggressive with M&A. In April, Boyd purchased Cannery Cassino Resorts' Las Vegas operations for $230 million, and also gobbled up the Aliante Casino Hotel and Spa for $380 million. All three properties are located in fast-growing North Las Vegas and position Boyd for superior growth in the years that lie ahead. When applicable, Boyd has also been working to meld technology and innovation to drive customer experience and profitability higher. A 2014 deal with Bally Technologies allowed Boyd the opportunity to introduce new slot machine monitoring, marketing, player tracking, and accounting to a good number of its slot machines. Bally's technology also allows Boyd to offer players downloadable promotional slot machine credits, which could keep them engaged longer and boost brand loyalty. This isn't a technology that's implemented overnight, so it should generate continually improved returns throughout the remainder of the decade. Looking ahead, Boyd Gaming's EPS is expected to grow from $0.79 in 2016 to an estimated $1.75 by 2019.
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An unambiguous ruling offering a simple solution to Italy's electoral tangle could open the way for an early ballot by June. A more nuanced, convoluted reading would almost certainly leave parliament in place until the legislature ends in early 2018. The constitutional court is expected to announce its verdict later on Tuesday or on Wednesday, opening the way for a likely overhaul of the contested law, known as the Italicum, which was introduced by former prime minister Matteo Renzi in 2015. The law only relates to the lower house of parliament. It envisaged a ballot staged over two rounds that guaranteed a big majority to the winning party while granting party bosses wide powers to handpick their preferred candidates. Renzi said the Italicum would bring political stability to Italy, but critics complained that it concentrated too much power in the gambling games hands of the winning party and did not allow voters to directly choose their representatives. "If the court intervenes to change the electoral law, removing the second round and essentially leaving a proportional system in place, then the likelihood of an election this year is very high," said Anna Ascani, a lawmaker close to Renzi. "But there's no consensus in parliament on what kind of electoral law to write should the court only make suggestions to change the current law," she told Reuters, saying such a scenario would make a snap vote in 2017 highly unlikely. Renzi resigned last month after a crushing defeat in a referendum on his plans to overhaul the constitution, but he remains leader of the ruling Democratic Party (PD) and is pushing for elections to allow him to return to power. NEW ELECTION The constitutional reform was based on eliminating the upper house Senate as a directly elected chamber and when Renzi drew up his electoral reform he only had the lower chamber in mind, confident that voters would back him in the referendum. His defeat means that different laws now govern elections in the two houses, so whatever the court rules this week the conflicting systems will have to be harmonized by parliament.
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