Boyd Gaming claimed it is “[realising] the benefits of recent investments” as its financial results for the quarter ending September 30 showed revenues of US$961.2m, up from $903.2m in Q3 2023.
The company reported net income of $131.1m, or $1.43 per share, for Q3 2024, compared to $135.2m, or $1.34 per share, for the year-ago period.
Total Adjusted EBITDAR was $336.6m in Q3 2024, up from $320.8m in Q3 2023.
"Our company continued to produce solid results in the third quarter, as underlying customer trends remained stable,” said Keith Smith, president and CEO of Boyd Gaming. “During the quarter, we realised the benefits of our recent investments in our Downtown Las Vegas and Midwest & South segments. These investments produced strong returns, driving revenue and Adjusted EBITDAR gains in both segments.
“We also benefited from excellent performances in both our online and managed businesses, demonstrating the value of our diversified business model. We strengthened our growth pipeline, securing an opportunity to develop a best-in-market casino resort in Norfolk, Virginia, while continuing work on property enhancements nationwide.
“And we continued our commitment to returning capital to shareholders, repurchasing more than $200m in shares during the quarter. In all, we are pleased with the ongoing performance of our business and remain focused on enhancing shareholder value."
