Boyd Gaming (US:BYD)2025-07-24 20:07Financial Performance - Boyd Gaming reported second-quarter 2025 revenues of $1.0 billion, a 6.7% increase from $967.5 million in the second quarter of 2024[2]. - Net income for the second quarter of 2025 was $150.4 million, or $1.84 per share, compared to $139.8 million, or $1.47 per share, for the same period in 2024, reflecting an increase of 7.5% in net income[2][3]. - Total Adjusted EBITDAR for the second quarter of 2025 was $357.9 million, up from $344.2 million in the second quarter of 2024, marking a 4.3% increase[3]. - Boyd Gaming's operating income for the second quarter of 2025 was $242.4 million, compared to $227.1 million in the same period of 2024, reflecting a 6.7% increase[14]. - Total revenues for Q2 2025 reached $1,033,998, an increase of 6.8% compared to $967,512 in Q2 2024[15]. - Adjusted EBITDA for Q2 2025 was $329,420, up from $316,339 in Q2 2024, reflecting a growth of 4.4%[15]. - Net income attributable to Boyd Gaming for the first half of 2025 was $262,877, compared to $276,318 in the same period of 2024, showing a decrease of 4.9%[18]. - Adjusted earnings per share for Q2 2025 were $1.87, compared to $1.58 in Q2 2024, representing a growth of 18.4%[18]. Segment Performance - The Las Vegas Locals segment achieved its strongest quarterly growth in over two years, with segment margins nearing 50%[5]. - The Online segment experienced growth driven by the company's online casino gaming business, with revenues of $173.1 million, up from $129.9 million in the prior year, representing a 33.2% increase[14]. - The Las Vegas Locals segment generated revenues of $229,091 in Q2 2025, a slight increase from $225,054 in Q2 2024[15]. - The Midwest & South segment reported revenues of $540,077 in Q2 2025, up from $521,750 in Q2 2024, marking a growth of 3.2%[15]. - Adjusted EBITDAR for the Online segment was $22,244 in Q2 2025, compared to $17,057 in Q2 2024, indicating a growth of 30.5%[15]. Shareholder Actions - Boyd Gaming repurchased $105 million in shares during the second quarter of 2025 and has approximately $707 million remaining under its share repurchase authorization as of June 30, 2025[7][8]. - The company paid a quarterly cash dividend of $0.18 per share on July 15, 2025[7]. Financial Position - As of June 30, 2025, Boyd Gaming had cash on hand of $320.1 million and total debt of $3.6 billion[9]. - The company plans to strengthen its financial position by selling its equity stake in FanDuel, allowing for continued investment in properties and growth opportunities[2]. Corporate Expenses - Corporate expenses for Q2 2025 were reported at $35,365, an increase from $31,255 in Q2 2024[18]. Operational Overview - Boyd Gaming operates 28 gaming properties across 10 states, with a focus on enhancing customer experience and service quality[24].