Boyd Gaming Q2 2023 Earnings Report

Reported solid results in a challenging environment, driven by an effective operating model, strong management teams, and successful growth initiatives.

Key Takeaways

Boyd Gaming reported a revenue increase to $917.0 million from $894.5 million in Q2 2022. Net income also increased to $192.5 million, or $1.89 per share, from $146.8 million, or $1.33 per share, in the previous year. Total Adjusted EBITDAR was $351.4 million, slightly down from $353.9 million in Q2 2022.

Core customer trends in the Las Vegas Locals segment remained solid with operating margins exceeding 50%.

Downtown Las Vegas segment benefited from increased visitation, but results were impacted by construction disruptions.

The Midwest & South segment showed sequential growth over the first quarter of 2023.

The Online segment was boosted by strong results from FanDuel's operations and the addition of Boyd Interactive.