Boyd Gaming has reported a revenue of $922.9m for Q4 of 2022, which represents a 5% rise from the same prior-year period. Net income for the quarter also climbed to $172.7m, a 57% increase from $109.8m in the prior-year period.
Total adjusted EBITDA was $360.1m in the final quarter of 2022, which showed a slight rise from the $347.3m from the year-ago period. Adjusted earnings for Q4 2022 were $181.8m, or $1.72 per share, compared to $154.3m, or $1.35 per share, for 2021's fourth quarter.
Looking at overall revenue, gaming made up $653m of the total, food & beverage amounted to $74.1m and rooming accounted for $50m of the overall sum.
The company stated that its Las Vegas sector posted record fourth-quarter revenue and EBITDAR, and that its operating margins exceeded 52%.
Growth in the segment was driven by destination business, non-gaming operations and strong continued business from its core customers. The Downtown Las Vegas segment achieved a fourth-quarter EBITDAR record, as visitation soared throughout the Downtown Las Vegas market.
Boyd Gaming CEO Keith Smith commented: “The fourth quarter was a strong conclusion to another record year for our Company. We achieved records for revenue and EBITDAR on both a fourth-quarter and full-year basis, as our operating teams remain focused on growing revenues and building loyalty among our core customers while successfully managing expenses.
“During the quarter we also made progress advancing our online strategy, completing our acquisition of Pala Interactive while further expanding our sports-betting partnership with FanDuel. We continued to return significant capital to our shareholders with nearly $600m in share repurchases and dividends in 2022.”
