Steve Wieczynski's questions to Boyd Gaming Corp (BYD) leadership • Q2 2025
Question
Steve Wieczynski asked for clarification on Boyd Gaming's use of proceeds from the FanDuel transaction, questioning what 'other growth opportunities' might entail and if it signals potential M&A activity.
Answer
President and CEO Keith Smith stated the FanDuel deal is not a precursor to another transaction but a move to monetize an undervalued asset. He explained that while proceeds will initially reduce debt, the goal is to deploy the capital into higher-returning investments. Smith reiterated that the company's balanced capital allocation strategy, including its approach to M&A, remains unchanged.