- Casino
- By State
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Georgia
- Florida
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Massachusetts
- Maryland
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
- By State
- Slots
- Poker
- Sports
- Esports
Boyd Gaming Posts Stellar Q4 and Full Year 2023 Results
The outstanding performance underlines the company's commitment to strategic investments and portfolio diversification
Boyd Gaming, the leading online and land-based gambling operator with a strong US presence, released its financial results for the fourth quarter and full year ended December 31, 2023, pointing to strong growth in revenue. The latest unaudited report emerged Thursday and saw the company report $954.4 million in total revenues for Q4 2023. Compared to the $922.9 million result for the corresponding period in 2022, the latest result shows an increase of more than 3%.
The latest trading update reveals that Boyd Gaming posted $92.6 million in net income for the fourth quarter, representing $0.94 per share, a slight dip when compared to the Q4 2022 result of $172.7 million in net income or $1.63 per share. The total adjusted EBITDAR reported by the company for the fourth quarter of 2023 was $355.5 million, while adjusted earnings were $163.8 million.
A breakdown provided by Boyd Gaming revealed that its gaming and online segments were responsible for the lion’s share of the revenue in the fourth quarter. The total gaming revenue reported by the company in Q4 2023 hit $647.1 million, a result that was slightly below the $653.9 million figure from Q4 2022.
Yet, Boyd Gaming’s revenue from the online segment hit $124.1 million, up by $34 million when compared to the $89.7 million in online revenue reported for the corresponding period the prior year. The company explained that its online segment was positively impacted by the introduction of sports betting in Ohio dating back to January 2023.
In Q4 2023, Boyd Gaming posted food and beverage as well as room revenue of $75.5 million and $50.6 million respectively. Those results were on par with the Q2 2022 figures. Management fees and other revenues for the period were some $56 million.
Online Segment Boosts 2023 Total Revenue
When it comes to the 2023 results, Boyd Gaming also posted strong growth. According to the new report, the company’s total revenue hit $3.74 billion for 2023, a significant increase when compared to the $3.56 billion result for the prior year.
Not unexpectedly, gaming was responsible for the lion’s share of the revenue, a total of $2.61 billion, a result that was only slightly below the 2022 figure. However, the company’s online revenue for 2023 hit $422.2 million, completely surpassing the $254 million result from 2022.
“The fourth quarter’s strong performance was a fitting conclusion to another record year for our Company.“
Keith Smith, president and CEO of Boyd Gaming
Keith Smith, Boyd Gaming’s president and CEO, highlighted the strong performance of the company during the fourth quarter of 2023. He explained that the outstanding results are a testament to the diversification of the company’s portfolio in combination with strong investments and returns. “Our management teams continued to demonstrate their ability to efficiently manage the business, achieving property-level operating margins above 40% for both the fourth quarter and full year,” added Smith. Finally, he predicted further growth for Boyd Gaming on a global scale, efforts that are also expected to create long-term shareholder value.
Related Topics:
William Velichkov is a research-driven writer. His strengths lie in ensuring factual accuracy, vetting government documentation and reaching out to regulators and other officials. He is particularly fond of financial reporting, the sports betting industry, B2B partnerships and esports betting developments. William is a strong asset to the GamblingNews team as he adds a bedrock to our reporting.
Must Read
Business
October 28, 2024
EasyJet Owner Bets on Gambling in Latest Business Venture
More Articles
Industry
November 4, 2024
Reeves Says No to Online Gambling Tax Hike, Sparks Criticism
Industry
November 4, 2024
New Zealand Plans to Regulate Online Gambling by 2026
Legal
November 4, 2024
Aria Las Vegas Sued for Wrongful Death by UK Family
Legal
November 4, 2024
Ex-Wynn Cocktail Server Secures $321K Compensation After Trial
Industry
November 4, 2024
Sweepstakes Increase Gambling Risks Among Younger People, Expert
Poker
November 4, 2024
Run It Once Poker Emerges from the Ashes as BetRivers Poker
Lottery
November 1, 2024
Powerball Grand Prize Climbs to $54M for Upcoming Drawing
Legal
November 1, 2024
Connecticut Takes Sweepstakes Operator VGW to Court
Industry
November 1, 2024
Ireland Launches Search for GRAI’s Chair and Board Members
Industry
November 1, 2024
Former PTA Exec Accused of Stealing $41K for Gambling, Shopping
Legal
November 1, 2024
Brazilian Gambling Industry Stakeholder Wants Whitelist to Go