Boyd Gaming Q4 revenue up 5% year-on-year
Boyd Gaming has reported revenue of $922.9m for the fourth quarter of 2022, a 5% increase from the prior-year period.
Gaming represented $653.9m of total revenue, with revenue for Food & beverage and Room totalling $74.2m and $50m respectively. Other revenue amounted to $144.8m
Net income for the quarter totalled $172.7m, compared to $109.8m in the prior-year period. And total adjusted EBITDAR for Q4 2022 climbed by 4% year-on-year to $360.1m, with adjusted earnings climbing 18% to $181.8m.
Boyd highlighted the company’s Las Vegas Locals segment in particular, which posted record fourth quarter revenue and EBITDAR, driven by destination business, non-gaming operations and continued strength in play from core customers.
“The fourth quarter was a strong conclusion to another record year for our company,” said Boyd Gaming President and CEO Keith Smith. “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.
“Companywide growth in the fourth quarter was driven by strong performances in our Nevada segments, management fees from Sky River and growth in our online business. 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.
“And we continued to return significant capital to our shareholders with nearly $600 million in share repurchases and dividends in 2022.”
Boyd also shared its full-year 2022 results, with revenue increasing by 6% year-on-year to $3.56bn. Net income for the period was $639.4m, compared to net income of $463.8m in the prior-year period. Total adjusted EBITDAR for full-year 2022 was $1.39bn versus $1.37bn for full-year 2021.
Smith concluded: “In all, 2022 was another strong year for our company, and we remain confident in our operating model and our team’s ability to successfully navigate the year ahead.”
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