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State of Play’s TL;DR
- Boyd Gaming posted $1.03 billion in revenue in Q2.
- The quarter was driven by stronger results in the South, Midwest, Las Vegas, and the company’s online and managed business.
Boyd Gaming posted $1.03 billion in second-quarter revenue, a 3% year-over-year increase, and raised its full-year adjusted EBITDAR guidance by $5 million.
Boyd reported $350.5 million in adjusted EBITDAR for the quarter, along with $144.4 million in adjusted earnings and $131.2 million in net income. Operating costs were $833.7 million, and the company paid $40.6 million in income tax.
The company said its Midwest and South operations generated $556.9 million in second-quarter revenue. In Las Vegas, revenue increased 4% and EBITDAR rose 3%.
CEO touts Q2 results
CEO and President Keith Smith said the results showed “the continued benefits of our diversified business model, success of our ongoing capital investment program, and broad-based growth in play across our customer segments.”
He added that the online segment delivered revenue and EBITDA growth on a comparable basis, supported by Boyd Interactive and contributions from market access agreements that were in line with recent quarters.
Not every property line moved the same way. Boyd said the Orleans and Suncoast segments faced headwinds tied to construction activity and weaker destination visitation.
By the numbers
- Revenue: $1.03 billion
- Year-over-year revenue growth: 3%
- Adjusted EBITDAR: $350.5 million
- Adjusted earnings: $144.4 million
- Net income: $131.2 million
- Midwest and South revenue: $556.9 million
- Las Vegas revenue growth: 4%
- Las Vegas EBITDAR growth: 3%
- Increase to full-year EBITDAR guidance: $5 million
The report points to continued resilience in Boyd’s regional portfolio while also highlighting the growing role of online and managed operations in the company’s results. The raised full-year EBITDAR outlook suggests management sees enough momentum to modestly improve expectations despite weaker performance at some Las Vegas-area properties.
Based on reporting by Alla Basentsyan for Affpapa.
