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NEWS 26 April 2019

Boyd Gaming Q1 revenue boosted to $827.3m by 2018 acquisitions

By Matthew Enderby

Las Vegas-headquartered Boyd Gaming reported Q1 revenue of $827.3m, a 37% year-on-year rise.

The operator reported net income of $45.5m for the period, which breaks down to $0.4 per share. This represents a 10% increase from Q1 2018.

Total adjusted EBITDAR was $223m for the quarter, up 39% from $160.5m.

Included in the figures is $213m in revenue from properties purchased in the last year including Ameristar Kansas City, Ameristar St. Charles, Belterra Resort and Belterra Park, acquired on 15 October; Valley Forge Casino Resort, acquired on September 17; and Lattner Entertainment, acquired on June 1. 

Boyd Gaming has operations spread across the US and its "Las Vegas Locals" segment took revenue of $222.9m in the quarter, a 0.31% increase.

In downtown Las Vegas, revenue grew from $60.5m to $63m, a 4% rise.

The Midwest and South segments increased revenue by 67% to $541.4m, overcoming the severe winter weather experienced in the Midwest.

Keith Smith, President and CEO of Boyd Gaming, said: "We made substantial progress integrating our recent acquisitions and realising synergies, positioning us to take advantage of the long-term potential of our new properties. 

"In all, we remain confident in the direction of our company and committed to creating long-term value for our shareholders."

RELATED TAGS: Land-Based | Casino | Financial
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