Boyd reports Q3 2024 revenue of $961.2m
The company’s Las Vegas Locals segment was the only to report a decrease in total revenue for the third quarter of 2024.
Key Points
- Revenue increased by 6.4% from the prior year period, while net income decreased slightly by 3.03% year-over-year
- Total adjusted EBITDAR also managed to increase for Q3 2024 by just under 5% from the prior year period for a total of $336.6m
Boyd Gaming has released the company’s financial results for the third quarter of 2024, including increases in revenue and total adjusted EBITDAR but decreases from its Las Vegas Locals segment.
“Our company continued to produce solid results in the third quarter, as underlying customer trends remained stable. During the quarter, we realized the benefits of our recent investments in our Downtown Las Vegas and Midwest & South segments. These investments produced strong returns, driving revenue and Adjusted EBITDAR gains in both segments. We also benefited from excellent performances in both our Online and Managed businesses, demonstrating the value of our diversified business model,” Boyd Gaming President and CEO Keith Smith said.
“We strengthened our growth pipeline, securing an opportunity to develop a best-in-market casino resort in Norfolk, Virginia, while continuing work on property enhancements nationwide. And we continued our commitment to returning capital to shareholders, repurchasing more than $200m in shares during the quarter. In all, we are pleased with the ongoing performance of our business and remain focused on enhancing shareholder value.”
In the third quarter of 2024, Boyd’s revenue increased by 6.4% from the prior year period, resulting in $961.2m being generated throughout the quarter. Total adjusted EBITDAR increased by just under 5% from Q3 2023 for a total of $336.6m reported during the third quarter of 2024.
Net income experienced a decrease of 3.03% from the prior year period, however, reported to be $131.1m for Q3 2024. Gaming once again led revenue for Boyd, accounting for over $640.5m throughout the period, but also representing a slight decrease of just 0.1% year-over-year.
Good to know: Boyd Interactive purchased Resorts Digital, the online arm of Resorts Atlantic City, on September 1 for an undisclosed amount following an announcement from the property’s President, Mark Giannantonio
Online revenue accounted for the second most revenue during the quarter for Boyd, generating $141.3m and increasing 56.5% from the prior year period. The company’s Midwest & South segment generated the most revenue at $522.4m, also managing to increase 1.8% year-over-year.
The Las Vegas Locals segment accounted for $211.9m but was the only segment to report a decrease for Boyd, falling just under 4.5% from the prior year period.
Tags/Keywords
Players trust our reporting due to our commitment to unbiased and professional evaluations of the iGaming sector. We track hundreds of platforms and industry updates daily to ensure our news feed and leaderboards reflect the most recent market shifts. With nearly two decades of experience within iGaming, our team provides a wealth of expert knowledge. This long-standing expertise enables us to deliver thorough, reliable news and guidance to our readers.
Latest News
