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Mar 31
Boyd Gaming Q1 2025 Earnings Report
Boyd Gaming reported solid financial results for Q1 2025, driven by growth across all segments despite weather challenges.
Key Takeaways
Boyd Gaming delivered revenue and EBITDAR growth across its segments in Q1 2025, maintaining strong margins and reporting a net income of $111.4 million.
Revenue rose to $991.6 million, up from $960.5 million in Q1 2024.
Net income reached $111.4 million with EPS of $1.31.
Adjusted EBITDAR increased to $337.5 million from $330.5 million a year ago.
Strong performance in Online and Downtown Las Vegas segments offset weather impacts in Midwest & South.
Boyd Gaming
Boyd Gaming
Boyd Gaming Revenue by Segment
Forward Guidance
The company remains confident in its operational consistency and ability to navigate ongoing economic uncertainty.
Positive Outlook
- Strong April trends so far in 2025.
- Stable demand across gaming segments.
- Online segment shows continued strength.
- Management confidence supported by strong balance sheet.
- Operational resilience demonstrated despite severe weather.
Challenges Ahead
- Increased economic uncertainty in recent weeks.
- Severe weather disruptions in Midwest & South segment.
- Ongoing competitive pressures in Las Vegas Locals segment.
- Leap Year in 2024 made year-over-year comparisons difficult.
- No explicit guidance provided for full-year revenue or income.