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NEWS 21 February 2020

Boyd Gaming posts year-on-year revenue growth of 27% for 2019

By Iqbal Johal

Boyd Gaming has reported a 27% year-on-year rise in revenue for 2019.

In its full-year results, revenue for the year ending 31 December was up to $3.33bn, while net income improved 37% to $157.6m.

Adjusted EBITDAR was also up 31% from 2018, to $896.7m.

For Q4 2019, revenue was up 5% from the previous year to $833.1m, with net income improving 6% to $24.3m over the same period.

Total adjusted EBITDAR rose 9% to $227.6m for Q4, while adjusted earnings were up by more than $20m from 2018, to $57.4m.

While the operator projects total adjusted EBITDAR of between $915m to $935m for 2020, total debt remains high at $3.81bn.

Boyd Gaming CEO and President Keith Smith, said: "Our diversified nationwide portfolio continued to generate strong results in the fourth quarter of 2019, as every segment of our business achieved growth in the same-store revenues and Adjusted EBITDAR.

"On the sports betting front, our newly opened FanDuel Sportsbooks helped attract new customers to our properties in Pennsylvania, Indiana and Iowa.

"As we enter the new year, the underlying trends in our nationwide business remain strong and we are confident in our prospects for 2020."

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