(AsiaGameHub) – Boyd Gaming announced $997.4 million in revenue for the first quarter of 2026, a 0.6% year-over-year increase, driven by consistent customer activity and ongoing investments across its property portfolio.
Net income totaled $105.5 million, down 5.3% from the same period last year, while adjusted earnings fell 10.6% to $123.1 million. Adjusted EBITDAR also declined by 6% to $317.4 million.
The South and Midwest segment posted positive earnings and revenue results, largely due to improved activity from core customers and more favorable year-over-year comparisons (stemming from significant weather disruptions in the prior fiscal year). Property investments also contributed to revenue and profit generation in these segments.
Conversely, the Las Vegas Locals segment faced challenges from lower demand levels paired with ongoing construction delays at the Suncoast property. Downtown Las Vegas results remained stable thanks to sustained strong visitation by Hawaiian customers, though overall traffic to the area continues to decline.
Boyd’s online segment continues to grow, fueled by its online casino operations and third-party restricted access agreements. The Managed and Other segments benefited from higher management fee revenues, most notably from the management of Sky River Casino in California.
During the second quarter of 2026, Boyd opened its Cadence Crossing Casino in Las Vegas and continued progress on its $750 million resort development in Virginia. The company also secured approval to expand and upgrade its Par-A-Dice property in Illinois.
Boyd returned approximately $170 million to shareholders in the second quarter via dividends and share repurchases—including $155 million in repurchased shares and a quarterly dividend of $0.20 per share. In addition, the board approved a $500 million expansion of the share repurchase program in April.
As of March 31, 2026, Boyd held $372.7 million in cash on hand and had total debt of $2.3 billion.
President and CEO of Boyd Gaming, Keith Smith said:
Looking ahead, we believe our strong balance sheet, diversified portfolio, balanced approach to capital allocation, and experienced management team all position us well to continue creating long-term value for our shareholders.
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