Boyd Gaming reports first quarter results

Boyd Gaming Corporation has reported financial results for the first quarter of 2023 ended March 31.

Keith Smith, president and CEO of Boyd Gaming, said: “The first quarter was an excellent start to 2023 for our company, as we again demonstrated the strength of our business model and the resilience of our diversified portfolio.

“We continued to see increased play from our core customers across the country, as well as strong growth in our non-gaming operations.

“Our Nevada segments delivered outstanding performances, as increased tourism in southern Nevada and growing play from core customers helped drive record first-quarter EBITDAR and operating margins in both our Las Vegas locals and downtown Las Vegas segments.

“Our growth initiatives also contributed to our record performance, as EBITDAR from our online operations more than doubled year-over-year, Sky River Casino continued to perform ahead of expectations and recent property investments helped drive incremental revenue and EBITDAR growth.

“Our proven business model and experienced team are delivering strong results for our shareholders, giving us confidence in our continued ability to successfully navigate the current economic environment.”

Boyd Gaming reported first quarter 2023 revenues of $964m, up 12 per cent from $860.7m in the first quarter of 2022. The company reported net income of $199.7m, or $1.93 per share, for the first quarter of 2023, compared to $162.9m, or $1.45 per share, for the year-ago period.