Earnings summaries and quarterly performance for BOYD GAMING.
Executive leadership at BOYD GAMING.
Keith Smith
Detailed
President and Chief Executive Officer
CEO
JH
Josh Hirsberg
Detailed
Chief Financial Officer and Treasurer
LN
Lori Nelson
Detailed
Chief Accounting Officer
MB
Marianne Boyd Johnson
Detailed
Executive Chairman
ST
Stephen Thompson
Detailed
Chief Administrative Officer
UC
Uri Clinton
Detailed
General Counsel and Corporate Secretary
Board of directors at BOYD GAMING.
Research analysts who have asked questions during BOYD GAMING earnings calls.
DK
David Katz
Jefferies Financial Group Inc.
8 questions for BYD
Also covers: AGS, BALY, CCL +35 more
SW
Steven Wieczynski
Stifel
7 questions for BYD
Also covers: CCL, CUK, CZR +11 more
Brandt Montour
Barclays PLC
6 questions for BYD
Also covers: BALY, CCL, CHDN +23 more
CB
Chad Beynon
Macquarie
6 questions for BYD
Also covers: ACEL, AGS, AMC +30 more
John DeCree
CBRE
6 questions for BYD
Also covers: CZR, FLL, FLUT +9 more
JB
Jordan Bender
JMP Securities
6 questions for BYD
Also covers: AMC, BALY, BRAG +14 more
Barry Jonas
Truist Securities
5 questions for BYD
Also covers: BALY, CHDN, CZR +15 more
BC
Benjamin Chaiken
Mizuho Financial Group, Inc.
5 questions for BYD
Also covers: CCL, CHDN, CUK +14 more
SK
Shaun Kelley
Bank of America Merrill Lynch
4 questions for BYD
Also covers: CHDN, CHH, CZR +16 more
Stephen Grambling
Morgan Stanley
4 questions for BYD
Also covers: BC, CHH, CUK +21 more
CS
Carlo Santarelli
Deutsche Bank
3 questions for BYD
Also covers: CZR, DKNG, GDEN +6 more
DP
Daniel Politzer
Wells Fargo
3 questions for BYD
Also covers: CCL, CHDN, CHH +20 more
BC
Ben Chaiken
Mitsui
2 questions for BYD
Also covers: CCL, CHDN, DKNG +7 more
DP
Daniel Politzer
JPMorgan Chase & Co.
2 questions for BYD
Also covers: CHDN, LVS
DP
Dan Politzer
Wells Fargo
2 questions for BYD
Also covers: CZR, DKNG, HLT +5 more
David Hargreaves
Barclays
2 questions for BYD
Also covers: IGT, LIND, PK
JS
Joseph Stauff
Susquehanna Financial Group, LLLP
2 questions for BYD
Also covers: CHDN, DKNG, FLUT +8 more
Max Marsh
CBRE Group, Inc.
2 questions for BYD
Also covers: FLUT, RHP, VICI
PS
Patrick Scholes
Truist Financial Corporation
2 questions for BYD
Also covers: CCL, CHH, CUK +13 more
SP
Steven Pizzella
Jefferies
2 questions for BYD
Also covers: ACEL, SRAD, WH
JG
Joseph Greff
JPMorgan Chase & Co.
1 question for BYD
Also covers: CHH, CZR, DKNG +10 more
PK
Patrick Kee
Truist Securities
1 question for BYD
Steve Pizzella
Deutsche Bank
1 question for BYD
Also covers: ACEL, CZR, GENI +7 more
SW
Steve Wieczynski
Stifel Financial Corp.
1 question for BYD
Also covers: CCL, NCLH, RCL +2 more
Recent press releases and 8-K filings for BYD.
Boyd Gaming Reports Record 2025 Revenues and Provides 2026 Outlook
BYD
Earnings
Guidance Update
Share Buyback
- Boyd Gaming achieved record company-wide revenues and EBITDA of approximately $1.4 billion for the full year 2025, with property level margins remaining at 40%.
- In 2025, the company generated nearly $1.8 billion from its FanDuel ownership interest, which helped reduce total leverage to 1.7 times and allowed for $836 million to be returned to shareholders through dividends and share repurchases, decreasing the total share count by 11%.
- For 2026, Boyd Gaming projects capital expenditures of $650 million-$700 million and expects to maintain share repurchases of approximately $150 million per quarter, totaling more than $650 million per year in capital returns. The online segment is projected to generate EBITDAR of $30 million-$35 million, and the managed and other business $110 million-$114 million.
1 day ago
Boyd Gaming Reports Record 2025 Revenues and Outlines 2026 Growth Plans
BYD
Earnings
Share Buyback
New Projects/Investments
- Boyd Gaming achieved record company-wide revenues for the full year 2025, with full-year EBITDA of approximately $1.4 billion and property level margins of 40%. For Q4 2025, revenues were $1.1 billion and EBITDA was $337 million.
- The company returned over $800 million to shareholders in 2025 through dividends and share repurchases, reducing the total share count by 11%. They anticipate maintaining repurchases of approximately $150 million per quarter and regular quarterly dividends, totaling over $650 million per year.
- Leverage stood at 1.7x at year-end 2025, with an expectation to approach 2.5x in 2026 due to tax credit payments and capital investments. Key growth initiatives for 2026 include the opening of Cadence Crossing Casino in late Q1, completion of the Suncoast modernization project in Q3, and continued growth from Boyd Interactive and Sky River Casino management fees, with projected 2026 capital expenditures of $650 million-$700 million.
- While the Las Vegas Locals segment showed strong play from Southern Nevada residents, Q4 2025 results were impacted by a decline in destination business, particularly in cash hotel revenues.
1 day ago
Boyd Gaming Reports Record 2025 Revenues, Strong Shareholder Returns, and Outlines Significant 2026 Capital Investments
BYD
Earnings
Share Buyback
New Projects/Investments
- Boyd Gaming achieved record company-wide revenues and approximately $1.4 billion in EBITDA for the full year 2025, maintaining property level margins at 40%.
- The company returned $836 million to shareholders in 2025 through dividends and share repurchases, reducing the total share count by 11%, and plans to continue repurchasing approximately $150 million per quarter in 2026.
- In 2025, Boyd Gaming generated nearly $1.8 billion from its FanDuel ownership interest, which was utilized to reduce total leverage to 1.7 times; however, leverage is anticipated to approach 2.5 times in 2026 due to tax payments and capital investments.
- Capital expenditures for 2026 are projected to be $650 million-$700 million, allocated towards growth projects such as Cadence Crossing, the Virginia resort, and Par-A-Dice development, alongside property enhancements.
- While play from core and retail customers remained strong, the company noted continued weakness in destination business, particularly impacting cash hotel revenues in the Las Vegas Locals segment.
1 day ago
Boyd Gaming Reports Strong Q3 2025 Results, Updates Guidance, and Reduces Leverage
BYD
Earnings
Guidance Update
Share Buyback
- Boyd Gaming Corporation reported Q3 2025 revenues exceeding $1 billion and EBITDA of $322 million, with company-wide margins consistent with the prior year at 37%.
- The company increased its online segment EBITDA guidance for 2025 to $60 million and expects $30 million in EBITDA for 2026.
- Capital expenditures for Q3 2025 were $146 million, bringing year-to-date expenditures to $440 million, with a full-year 2025 expectation of approximately $600 million. Significant growth projects include a $750 million resort development in Norfolk, Virginia, with the permanent resort scheduled to open in November 2027.
- During Q3 2025, Boyd Gaming repurchased $160 million in stock and paid $15 million in dividends, and intends to maintain $150 million per quarter in share repurchases going forward.
- The company's total leverage ratio significantly declined from 2.8x in Q2 2025 to 1.5x in Q3 2025, following the FanDuel transaction and debt repayment.
Oct 23, 2025, 9:00 PM
Boyd Gaming Reports Q3 2025 Results, Updates Capital Plans and Shareholder Returns
BYD
Earnings
New Projects/Investments
Share Buyback
- Boyd Gaming Corporation reported Q3 2025 revenues exceeding $1 billion and EBITDA of $322 million, with company-wide margins consistent with the prior year at 37%.
- The company is increasing its online segment EBITDA guidance for 2025 to $60 million and expects $30 million for 2026.
- Total capital expenditures for 2025 are projected to be approximately $600 million, including $100 million for growth capital and $150 million for the Virginia casino development. Key growth projects include Cadence Crossing opening in Q2 2026 and the $750 million Norfolk, Virginia resort scheduled to open in November 2027.
- In Q3 2025, Boyd Gaming repurchased $160 million in stock and paid $15 million in dividends, bringing year-to-date shareholder returns to $637 million. The company intends to maintain $150 million per quarter in share repurchases.
- The company's leverage ratio significantly decreased from 2.8 times at the end of Q2 to 1.5 times at the end of Q3 2025, following the FanDuel transaction.
Oct 23, 2025, 9:00 PM
Boyd Gaming and Fanatics Announce Missouri Sports Betting Partnership
BYD
New Projects/Investments
Product Launch
- Boyd Gaming Corporation has partnered with Fanatics Betting and Gaming for mobile sports betting and retail sportsbooks in Missouri.
- Under the multi-year agreement, Fanatics Sportsbook will operate online betting under Boyd’s license and open Fanatics-branded retail sportsbooks at Boyd’s Ameristar Casino Hotel Kansas City and Ameristar Casino Resort and Spa St. Charles.
- The launch of online and retail betting products in Missouri is planned for this December, contingent upon receipt of all required regulatory approvals.
Aug 25, 2025, 4:03 PM
Quarterly earnings call transcripts for BOYD GAMING.
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