Boyd Gaming Q3 2023 Earnings Report

Boyd Gaming's Q3 2023 results reflected a diversified business model with growth in core customers, Sky River, online gaming, and non-gaming sectors, offset by retail customer declines and cost pressures.

Key Takeaways

Boyd Gaming reported a revenue increase to $903.2 million, up from $877.3 million in Q3 2022. Net income was $135.2 million, or $1.34 per share, compared to $157.0 million, or $1.46 per share, in the previous year. Adjusted EBITDAR was $320.8 million, down from $337.7 million in Q3 2022. Adjusted earnings were $137.3 million, or $1.36 per share, versus $159.2 million, or $1.48 per share, for the same period in 2022.

Core customer play increased year-over-year.

Hotel and food & beverage revenues rose year-over-year.

Online segment benefited from FanDuel's operations and the acquisition of Boyd Interactive.

Managed & Other business grew due to management fees from Sky River Casino.