Boyd Gaming Reports Record Q4 and Full Year 2022 Results

Gaming behemoth, Boyd Gaming, reported a 5% surge in revenue for the final quarter of 2022, hitting $922.9 million, as revealed in their recent financial report.

This upward trajectory was propelled by robust results in their primary gaming division, generating $653.9 million. Food and beverage, along with accommodations, contributed $74.2 million and $50 million accordingly. A substantial portion of income, $144.8 million, originated from alternative avenues, underscoring the company’s varied income sources.

The corporation celebrated an unprecedented fourth quarter, fueled by the exceptional performance of their Las Vegas local market business. This segment, a considerable element of Boyd’s holdings, witnessed record income and EBITDAR, a crucial profitability indicator. This triumph was ascribed to solid performance in their Las Vegas destination operations, robust non-gaming income, and sustained engagement from their core clientele.

Boyd’s Chief Executive Officer, Keith Smith, proudly declared the fourth quarter a fitting conclusion to another banner year for the company. He stressed that their operational team’s commitment to propelling revenue expansion, cultivating customer allegiance, and effectively overseeing expenses resulted in record revenue and EBITDAR for both the quarter and the entire year.

Smith also emphasized the significant contributions from their Nevada enterprises, management fees from Sky River, and the ongoing expansion of their digital business as key catalysts for the company’s overall growth in Q4.

This fiscal period witnessed notable advancements in our digital approach, marked by the successful acquisition of Pala Interactive and a strengthened sports wagering collaboration with FanDuel.

Throughout 2022, we maintained a focus on substantial capital returns to stakeholders, distributing nearly $600 million via share buybacks and dividend payments,” remarked Keith Smith, Chief Executive Officer and President of Boyd Gaming.

Furthermore, Boyd announced robust financial outcomes for the entirety of 2022: Annual revenue experienced a 6% year-over-year uptick, reaching $3.56 billion. Net income for the year amounted to $639.4 million, contrasting with $463.8 million in the preceding year. For the complete 2022 fiscal year, adjusted EBITDAR totaled $1.39 billion, compared to $1.37 billion in 2021.

“To summarize, 2022 proved to be another period of commendable performance for our organization, and we hold unwavering confidence in both our operational framework and our personnel as we anticipate the obstacles and prospects that lie ahead,” Smith concluded.