Boyd Gaming reports revenues of $960.5m in Q1

Figures represent a fall when compared to the same period in 2023.

US.- Boyd Gaming has reported its financial results for the first quarter of 2024, ending on March 31. The operator registered revenues of $960.5m and a net income of $136.5m, or $1.40 per share. Figures represent a fall when compared to the previous year.

Through the first quarter of 2023, Boyd Gaming reported revenues of $964m, while posting a net income of $177.4m, $1.93 per share. In its operations review, the company stated that its Las Vegas locals segment faced record comparisons and competitive markets. It also reported that severe winter weather had a significant impact on its Midwest & South segment.

President and CEO of Boyd Gaming, Keith Smith, said: “After a record 2023, the first quarter of 2024 was a challenging start to the year. Severe winter weather had a significant impact on our Midwest & South segment early in the quarter while we also experienced increased competitive pressures in the Las Vegas Locals market. However, throughout our business, many of the positive trends from the fourth quarter continued into the new year.

“By focusing on our disciplined operating and marketing strategies, we have been able to maintain strong operating margins. Additionally, our significant cash flows and strong balance sheet allow us to continue returning capital to our shareholders through our ongoing share repurchases and quarterly dividend programs. Looking ahead, we remain confident in our ability to successfully navigate the current environment and deliver value to our shareholders.”

In Q4 2023 and the year ended December 31, the company’s revenue reached $954.4m, an increase of approximately 3.4 per cent year-on-year. Net income was $92.6m, or $0.94 per share, down approximately 46.4 per cent.