Boyd Gaming continues revenue growth despite severe weather conditions
Boyd Gaming reported first-quarter 2025 revenues of $991.6m, up from $960.5m in the first quarter of 2024.
In the Las Vegas Locals segment, the Orleans continued to be impacted by competitive pressures, while the remainder of the properties in the segment posted modest revenue growth with Adjusted EBITDAR in line with prior year. The Downtown Las Vegas segment reported gains in both revenues and Adjusted EBITDAR, with year-over-year growth in Hawaiian visitation. While the Midwest & South segment was impacted by severe weather throughout the quarter, the segment achieved growth in both revenues and Adjusted EBITDAR.
The company’s online segment delivered strong revenue and Adjusted EBITDAR growth during the quarter, with increased contributions from the Company’s online casino gaming business. Managed & Other results reflect continued growth in management fees from Sky River Casino.
Keith Smith, President and Chief Executive Officer of Boyd Gaming, said: “During the first quarter, we achieved revenue and Adjusted EBITDAR growth on both a Companywide and property-level basis, maintaining property operating margins of 40 per cent – an impressive performance by our company, considering the impact of severe weather this year across our Midwest & South segment, as well as difficult comparisons to Leap Year. While economic uncertainty has increased in recent weeks, we are encouraged that trends in our business have remained consistent over the first three weeks of April. In all, we are pleased with the overall performance of our business and remain confident in our ability to manage through the current environment, supported by our strong balance sheet and experienced management team.”
