Boyd Gaming growth continues with 34% Q3 revenue rise
Boyd Gaming revenue was $819.6m for Q3 2019, a rise of 34% year-on-year.
Net income was $39.4m for the period, a 234% increase, while adjusted EBITDA was $213.5m, a 43% rise from 2018.
The operator attributed much of its growth to the performance of its Las Vegas Locals segment, which was the company’s highest revenue source, generating $213.3m, up 2%.
Boyd’s downtown Las Vegas segment saw revenue of $60.6m, an increase of 3%, while Midwest and South saw revenue of $545.7m, a 58% rise.
Kevin Smith, President and CEO of Boyd Gaming, said: “In the third quarter, our diversified nationwide portfolio continued to deliver growth in same-store revenues, adjusted EBITDA and margins, and led another outstanding quarter by our Las Vegas locals business.
“Our newly acquired properties produced strong results under our ownership, with adjusted EBITDA growth of nearly 6% and margin improvement of more than 200 basis points on a combined basis.
“We substantially expanded our sports betting partnership with FanDuel Group, opening sportsbooks at four new locations in the Midwest while successfully launching a market-leading mobile betting app in Pennsylvania.”
Last month, FanDuel announced the launch of sportsbooks in Indiana and Iowa through its partnership with Boyd Gaming.
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