LAS VEGAS, Aug. 20, 2024 /PRNewswire/ -- Boyd Gaming Corporation (NYSE: BYD) announced that its Board of Directors has declared a quarterly cash dividend of $0.17 per share, payable October 15, 2024, to shareholders of record at the close of business on September 15, 2024.About Boyd GamingFounded in 1975, Boyd Gaming Corporation (NYSE: BYD) is a leading geographically diversified operator of 28 gaming entertainment properties in 10 states, manager of a tribal casino in northern California, and owner and ope ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ____________________________________________________ FORM 10-Q ____________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-12882 ...

Boyd Gaming Corporation (BYD) reported second-quarter 2024 results, with earnings and revenues surpassing the Zacks Consensus Estimate. The company’s top line increased year over year.Segment-wise, the Las Vegas Locals market showed improvement from the first quarter. Its business in this segment achieved market share growth. Additionally, the company experienced strong growth in its Downtown Las Vegas operations and maintained stable performance in Midwest and South operations.Following the results, the co ...

Boyd Gaming (BYD) reported $967.51 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 5.5%. EPS of $1.58 for the same period compares to $1.58 a year ago.The reported revenue represents a surprise of +6.84% over the Zacks Consensus Estimate of $905.56 million. With the consensus EPS estimate being $1.47, the EPS surprise was +7.48%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ...

Financial Data and Key Metrics Changes - The company reported property revenues for the second quarter that were even with the prior year, achieving property margins of nearly 41% [7][21] - EBITDA margins were approximately 49% during the second quarter, reflecting strong operating efficiencies [9] - The company repurchased $176 million in stock during the quarter and remains committed to a share repurchase program of $100 million per quarter [19][27] Business Line Data and Key Metrics Changes - The Las Vegas Locals segment saw improved market conditions, with core customer play growing and non-gaming revenues increasing nearly 6% year-over-year [9][10] - The Downtown Las Vegas segment delivered strong year-over-year growth, benefiting from increased visitation and investments in renovations [10][11] - The Midwest & South segment posted modest revenue growth, with new land-based facilities contributing positively [12][13] - The Online segment is expected to achieve EBITDAR of $65 million to $70 million for the full year, driven by a partnership with FanDuel [13] - The Managed & Other business anticipates generating approximately $90 million in EBITDAR for the full year, bolstered by the performance of Sky River Casino [14] Market Data and Key Metrics Changes - Southern Nevada gaming revenues exceeded $13.5 billion over the past 12 months, marking an all-time record [11] - Las Vegas saw over 41 million visitors in the last year, a 2.6% increase from the previous year, with airport traffic also setting records [10][11] Company Strategy and Development Direction - The company is focused on balanced capital allocation, investing in operations to drive future growth while returning capital to shareholders [16][19] - New projects include the expansion of meeting and convention space at Ameristar St. Charles and the construction of Cadence Crossing Casino, expected to begin late this year [18][19] - The company is committed to refreshing and upgrading properties across the country, including hotel renovations [19][26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term prospects for Southern Nevada operations, citing stable economic trends [11][12] - The company anticipates continued stability in the Las Vegas Locals market, with competitive pressures expected to persist [22] - Management noted that the promotional environment remains stable, with some competitive pressures around specific properties [36][68] Other Important Information - The company invested $114 million in capital expenditures during the quarter, with total projected capital expenditures for the year between $400 million and $450 million [24][25] - The company maintains a strong balance sheet with total leverage at 2.4 times, providing flexibility for capital allocation [29] Q&A Session Summary Question: Current appetite for M&A activity - Management indicated a willingness to consider M&A opportunities, emphasizing their expertise in acquiring and integrating properties [32][33] Question: Promotional environment in the Locals market - Management noted that competitive pressures around Gold Coast and Orleans remain similar to previous quarters, with stable promotional activity in the broader market [36] Question: Strategies for mitigating competition in New Orleans - Management emphasized patience and maintaining strong customer relationships as key strategies to navigate competitive pressures [38] Question: Impact of Durango opening - Management confirmed that the previously guided impact of $20 million to $25 million remains valid, with changes in the mix of impacts noted [50] Question: Outlook for EBITDA growth in Midwest & South - Management expects stability in the Midwest & South segment for the remainder of the year, with potential for growth next year [53] Question: Seasonality expectations in the Locals market - Management anticipates normal seasonality trends from Q2 to Q3, consistent with historical patterns [71] Question: Update on Downtown Las Vegas performance - Management reported a significant rebound in Hawaiian play and improved foot traffic in Q2 compared to Q1 [73][74] Question: Ramp-up expectations for Treasure Chest - Management expressed satisfaction with initial performance but cautioned that revenues are expected to settle below the current doubling rate [80] Question: Cadence Crossing market strategy - Management highlighted a modest investment strategy for Cadence Crossing, with plans for future expansion as the community grows [87]

Boyd Gaming (BYD) came out with quarterly earnings of $1.58 per share, beating the Zacks Consensus Estimate of $1.47 per share. This compares to earnings of $1.58 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 7.48%. A quarter ago, it was expected that this casino operator would post earnings of $1.57 per share when it actually produced earnings of $1.51, delivering a surprise of -3.82%.Over the last four quarters, the compan ...

Exhibit 99.1 BOYD GAMING REPORTS SECOND-QUARTER 2024 RESULTS LAS VEGAS - JULY 25, 2024 - Boyd Gaming Corporation (NYSE: BYD) today reported financial results for the second quarter ended June 30, 2024. Keith Smith, President and Chief Executive Officer of Boyd Gaming, said: "Our Company delivered a solid performance in the second quarter, in-line with our expectations. On a segment basis, conditions in the Las Vegas Locals market improved from the first quarter and our Las Vegas Locals business achieved mar ...

Boyd Gaming (BYD) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The earnings report, which is expected to be released on July 25, 2024, might help the stock move higher if these key numbers are better than expectat ...

Boyd Gaming Corporation (BYD) is likely to benefit from Las Vegas operations, expansion initiatives and igaming prospects. Also, focus on strategic acquisitions bodes well. However, inflationary pressures are a concern.Let’s delve deeper.Factors Driving GrowthBoyd Gaming considers the local market in Las Vegas as a major driver for its portfolios. With restaurants and bars open, frequent visitations by locals are likely to spurt the company’s growth. In the first quarter, the company witnessed increased vis ...

The electric vehicle (EV) market is fast becoming a new battleground for international trade, with the European Union (EU) and China facing a trade tariff showdown. Two weeks ago, the U.S. government quadrupled tariffs on China-made EVs to 100%, in a move aimed at countering what it sees as unfair pricing practices by Chinese manufacturers and protecting American jobs.This aggressive stance has put pressure on the EU to consider similar measures. The EU is expected to announce a provisional list of import d ...