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NEWS 31 July 2019

Boyd Gaming praises new properties as Q2 revenue soars to $846.1m

By Matthew Enderby

Boyd Gaming grew its revenue 37% year-on-year to $846.1m for the second quarter of the year.

The operator generated net income of $48.5m, a 25% increase, and total adjusted EBITDAR of $232.6m, rising 42%.  

Gaming revenue across all Boyd properties rose 41% to $633.7m for the period.

Results from Q2 include $228.5m in revenue and $66.8m in adjusted EBITDAR from Ameristar Kansas City, Ameristar St. Charles, Belterra Resort and Belterra Park, acquired on 15 October; Valley Forge Casino Resort, purchased on 17 September; and Lattner Entertainment, acquired on 1 June 2018.

In Boyd’s Las Vegas locals segment, revenue was $220.9m, rising just 0.4%. Adjusted EBITDAR rose 2% to $71.4m.

In downtown Las Vegas, the operator generated revenue of $64.5m, a 5% rise. Adjusted EBITDAR in the segment was $15.9m, an increase of 17%.

Looking ahead, Boyd expects to achieve its full-year target of between $885m and $910m in adjusted EBITDAR.

Keith Smith, President and CEO of Boyd Gaming, said: "We achieved strong growth at our newly acquired properties, significantly improving upon their solid standalone performances last year.

"Through ongoing marketing and operational initiatives, we are successfully growing visitation and expanding our customer base across the country."

RELATED TAGS: Land-Based | Industry | Mergers & Acquisitions | Financial | Casino
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