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Jun 30, 2021
Boyd Gaming Q2 2021 Earnings Report
Reported all-time records for Companywide Adjusted EBITDAR and Operating Margins.
Key Takeaways
Boyd Gaming reported strong second-quarter results with record Adjusted EBITDAR and operating margins. Gaming revenues surpassed 2019 levels, and the company is confident in its ability to continue delivering robust EBITDAR and margin performance.
Achieved record results for Adjusted EBITDAR and operating margins.
Companywide margins exceeded 43%, with Las Vegas Locals margins approaching 57%.
Gaming revenues surpassed 2019 levels.
Strength from the first half of the year has carried into July.
Forward Guidance
Boyd Gaming is optimistic about its future performance, citing its operating strategy, streamlined cost structure, and focus on core customers as drivers of strong results. The company expects to continue delivering robust levels of EBITDAR and margin performance.
Positive Outlook
- Operating strategy
- Streamlined cost structure
- Focus on core customers
- Robust levels of EBITDAR
- Margin performance
Challenges Ahead
- Ongoing uncertainty about COVID-19
- Possibility of future closures
- Negative perceptions of visiting properties
- Consumer demand
- Effects of events adversely impacting the economy
Historical Earnings Impact
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Avg. Return Before/After Earnings
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