Boyd Gaming Reports Strong Q3 2023 Results, Driven by Digital Growth
A prominent gaming and hospitality corporation, Boyd Gaming, recently declared robust financial outcomes for the third quarter of 2023. Their total income climbed to $903.2 million, contrasting with $877.3 million during the corresponding timeframe last year.
The company’s Chief Executive, Keith Smith, underscored the effectiveness of their varied business framework. He stressed the ongoing solidity of their primary clientele, the remarkable achievements of their Sky River Casino and internet gaming ventures, and the expansion of their non-gaming offerings.
Regarding digital gaming, Boyd Gaming’s online division experienced a substantial upswing due to the strong showing of FanDuel and the latest incorporation of Boyd Interactive, which they procured in late 2022.
Although income ascended, it’s noteworthy that modified earnings before interest, taxes, depreciation, amortization, and restructuring or rent expenses (EBITDAR) for the third quarter of 2023 reached $320.8 million, compared to $337.7 million in the parallel period the previous year. Likewise, adjusted earnings for the third quarter of 2023 were $137.3 million, contrasted with $159.2 million in 2022.
Boyd Gaming had a remarkable year, experiencing a 12% surge in total revenue. This accomplishment was significantly fueled by their digital platform, which witnessed a substantial 123% revenue growth. With an eye on the future, Boyd Gaming collaborated with UNLV in September 2023 to establish the Boyd Innovation Lab. This innovative endeavor, situated within UNLV’s Black Fire Innovation facility, seeks to create novel technologies and approaches for the Southern Nevada hospitality sector.