A strong increase in online gaming revenue made up for a slight fall in land-based revenue.
US.- The US gaming and hospitality company Boyd Gaming Corporation has released its latest trading update, outlining performance for the second quarter of 2023. The unaudited report shows total revenue for Q2 2023 hit $917m. That compares to $894.5m in Q2 2022.
For the quarter ended June 30 2023, Boyd Gaming reported net income of $192.5m, representing $1.89 per share. Net income for Q2 2022 was $146.8m, representing $1.33 per share.
Adjusted EBITDAR was $351.4m, a slight decrease from $353.9m result for the same period in 2022. Adjusted earnings for Q2 2023 were $161.3m, down from $163.5m.
Online gaming revenue hit $85m, up from $56.8m result in the same period in 2022. In contrast to the positive results from the online sector, gaming revenue decreased by 3.5 per cent to $660.7m.
Keith Smith, Boyd Gaming’s CEO and president, said: “We maintained our focus on building loyalty among our core customers while our operating teams continued to effectively manage expenses throughout the business, achieving strong companywide margins consistent with recent quarters,” he explained.
He added: “During the second quarter we once again proved our ability to deliver solid results in a challenging environment, thanks to our effective operating model, strong management teams and successful growth initiatives.“