Boyd Gaming Achieves Outstanding Q4 and Full Year 2023 Performance

Boyd Gaming Reports Strong Revenue Growth in Q4 2023 and Full Year

Boyd Gaming, a prominent player in the online and land-based gambling industry, has unveiled its financial results for the fourth quarter and full year ending on December 31, 2023. The company’s latest unaudited report, released on Thursday, showcased a robust revenue growth. In the fourth quarter of 2023, Boyd Gaming recorded a total revenue of $954.4 million, reflecting a notable uptick from the $922.9 million generated in the same period in 2022.

Despite this positive revenue growth, the company reported a net income of $92.6 million for the fourth quarter, representing $0.94 per share. This marks a slight decrease from the Q4 2022 result of $172.7 million in net income or $1.63 per share. In addition, Boyd Gaming’s adjusted EBITDAR for the fourth quarter of 2023 was $355.5 million, with adjusted earnings of $163.8 million.

Boyd Gaming attributed the majority of its revenue in the fourth quarter to its gaming and online segments. The company reported gaming revenue of $647.1 million, slightly lower than the $653.9 million figure from Q4 2022. However, its online segment saw a significant increase in revenue, reaching $124.1 million, up by $34 million from the prior year. This growth was fueled by the introduction of sports betting in Ohio in January 2023.

The company also reported food and beverage revenue of $75.5 million, room revenue of $50.6 million, and management fees and other revenues totaling $56 million for the fourth quarter of 2023.

Looking at the full year 2023 results, Boyd Gaming achieved total revenue of $3.74 billion, a substantial increase from the $3.56 billion recorded in the previous year. Gaming remained the primary revenue driver, bringing in $2.61 billion, while the online segment soared to $422.2 million, surpassing the $254 million from 2022.

Keith Smith, President, and CEO of Boyd Gaming, expressed satisfaction with the company’s performance, attributing it to the diversification of the company’s portfolio and efficient management. He also expressed optimism for Boyd Gaming’s future growth on a global scale, foreseeing long-term value for shareholders.