Boyd Gaming reports $652.2m in Q3 revenue
Boyd Gaming has reported $652.2m in revenue for Q3 2020, a decline of 20% year-on-year. Net income was $38.1m, compared to $39.4m in 2019. Total Adjusted EBITDAR was $238.8m, a 12% increase from $213.5m the previous year. Operating margins for Q3 were 37% against 26% in 2019.
The company’s revenue for the first nine months of 2020 was $1.5bn, a drop of 40% year-on-year. Operating costs for Q3 were $525.1m, a significant decline from $706.1m the previous year.
President and CEO of Boyd Gaming Keith Smith said: “During the third quarter, we successfully navigated the challenges presented by the COVID pandemic thanks to our outstanding operating team.”
He was optimistic about the company’s future: “We continued to build the foundation for future growth through the expansion of our partnership with FanDuel Group, successfully launching mobile sports betting platforms in Illinois and Iowa and expanding our digital reach to more than 30 million adults nationwide.
“We are proud of our team’s ability to successfully execute our strategy and are committed to sustaining a more efficient and profitable operating model into the future.”
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