Boyd Gaming sees 5% increase revenue in Q4 2022
Boyd Gaming reported revenue of $922.9m for the fourth quarter of 2022.
US.- Boyd Gaming has announced results for the fourth quarter of 2022. The casino operator reported revenue of $922.9m for the three months ended December 31, 2022. That’s an increase of 4.9 per cent from Q4 2021.
Gaming accounted for $653.9m, food & beverage and rooms $74.2m and $50m respectively and other revenue $144.8m. Net income for Q4 totalled $172.7m, compared to $109.8m in Q4 2021. Total adjusted EBITDAR for Q4 2022 increased 4 per cent year-on-year to $360.1m, with adjusted earnings climbing 18 per cent to $181.8m.
Keith Smith, president and chief executive officer of Boyd Gaming, said: “The fourth quarter was a strong conclusion to another record year for our company. We achieved records for revenue and EBITDAR on both a fourth-quarter and full-year basis, as our operating teams remain focused on growing revenues and building loyalty among our core customers while successfully managing expenses.
“Companywide growth in the fourth quarter was driven by strong performances in our Nevada segments, management fees from Sky River and growth in our online business. During the quarter we also made progress advancing our online strategy, completing our acquisition of Pala Interactive while further expanding our sports-betting partnership with FanDuel. And we continued to return significant capital to our shareholders with nearly $600 million in share repurchases and dividends in 2022.”
The report notes that Boyd Gaming’s Las Vegas Locals segment’s operating margins exceeded 52 per cent.
For the full-year, revenue for the 12 months to December 31 was $3.56bn, up 3.8 per cent from the previous record of $3.70bn in 2021. The company reported net income of $639.4m, or $5.87 per share, compared to net income of $463.8m ($4.07 per share) for the full year 2021.
Total Adjusted EBITDAR for full year 2022 was $1.39bn versus $1.37bn for 2021. Full-year 2022 Adjusted Earnings were $662m, or $6.07 per share, compared to $584.2m, or $5.12 per share, for 2021.