Boyd Gaming shows 31% rise in Q2 net income to $192.5m

July 28, 2023
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The operator's online segment has also grown 49.7%, while gaming revenue slightly decreased year-on-year.

Boyd Gaming Corporation (Boyd) has released its Q2 financial report, showing yearly revenue growth of 2.5% to $917m. The casino operator has also posted net income of $192.5m, which is an increase of 31.1% from the previous year’s second quarter.

When considering Boyd’s different segments, gaming still generates the most revenue, and brought in $660.7m, which was a slight decrease from the $684.9m made in Q2 of 2022. The online segment experienced the largest growth year-on-year, rising 49.7% to $85m.

The operations review section of the report stated that the online segment specifically benefitted from “strong results at FanDuel’s operations in Ohio and Pennsylvania, as well as the addition of Boyd Interactive.”

Food and beverage revenue stayed mostly consistent with a comparison of $70.4m this quarter and $70.3 in revenue of Q2 the previous year. Revenue from rooms was also similar, but experienced a slight decrease, as this quarter brought in $49.8m, and Q2 of 2022 generated $49.9m.

Boyd Gaming President and CEO Keith Smith commented, “During the second quarter we once again proved our ability to deliver solid results in a challenging environment, thanks to our effective operating model, strong management teams and successful growth initiatives.

“We maintained our focus on building loyalty among our core customers while our operating teams continued to effectively manage expenses throughout the business, achieving strong companywide margins consistent with recent quarters.”

Also noting core customers, the report mentioned that in the Las Vegas Locals segment of Boyd’s business, downtown specifically benefited from visitation growth, but construction disrupted visitor counts near Fremont and Main Street Station.

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