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The Las Vegas Locals segment remained soft primarily at the Orleans with ongoing construction disruption at the Suncoast
Boyd Gaming reported second-quarter 2026 revenues of $1.03bn, in line with the second quarter of 2025.
The company’s Midwest and South operations once again delivered revenue and Adjusted EBITDAR growth during the quarter, driven by increased play from core and retail customers, as well as contributions from recent capital investments across the segment.
While results in the Las Vegas Locals segment were impacted by continued softness in destination business, primarily at the Orleans, and ongoing construction disruption at the Suncoast, the remainder of the segment grew revenues and Adjusted EBITDAR over the prior year, with property margins exceeding 50 per cent. In the Downtown Las Vegas segment, play from both core and Hawaiian customers was consistent with recent quarters; however, results continued to be impacted by ongoing softness in destination business throughout the downtown area.
Results in Boyd’s online segment reflected growth from the company’s online casino gaming business, as well as contributions from third-party market access agreements consistent with the last several quarters. Strong revenue and Adjusted EBITDAR growth in the company’s managed business was driven by increased management fees from Sky River Casino following its recently completed expansion
Keith Smith, President and Chief Executive Officer of Boyd Gaming, said: “Our second-quarter results demonstrated the benefits of our diversified business model, with strong performances from our Midwest & South operations, Online segment and Managed business. Results for the quarter, on a comparable basis, reflect both revenue and Adjusted EBITDAR growth, with property operating margins of 40 per cent, a level we have consistently delivered over the last several years.
“This performance was supported by strength in play from both our core and retail customers across the portfolio, as well as contributions from our recent capital investments. We also returned substantial capital to our shareholders, with more than $170 million in dividends and share repurchases during the second quarter. With our strong balance sheet, efficient operating model and robust free cash flow, our company is well-positioned to continue creating long-term shareholder value.”
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