Boyd Gaming reports second quarter revenues of $1 billion

The American gaming company, Boyd Gaming, reported second-quarter revenues of $1.0 billion, up from $967.5 million in the same period of last year.

The company reported net income of $150.4 million, or $1.84 per share, for the second quarter of 2025, compared to $139.8 million, or $1.47 per share, for the year-ago period.

The total adjusted EBITDAR was $357.9 million in the second quarter of 2025, increasing from $344.2 million in the second quarter of 2024.

Adjusted Earnings for the second quarter of 2025 were $154.2 million, or $1.87 per share, compared to $150.0 million, or $1.58 per share, for the same period in 2024.

It was the Las Vegas Local segment that achieved its strongest quarterly growth in more than two years, too. The downtown Las Vegas results weren’t as favorable as these reflected a challenging comparison to the prior year, which is said to be due to visitation from Hawaiian guests being unusually elevated in the second quarter of 2024.

Speaking about the second quarter, the President and CEO of Boyd Gaming, Keith Smith, said: “Our Company delivered a strong performance in the second quarter, with broad-based growth across our operating segments, including our Online and Managed segments.

“We achieved our strongest property-level revenue and Adjusted EBITDAR growth in more than three years, with property-level margins once again exceeding 40%.”

The CEO expanded on how the figures from the quarter have come about: “This growth was supported by continued strength in play from our core customers, as well as improvements in retail play.”

Looking to the future, the company recently announced a transaction to sell its equity stake in FanDuel. Boyd Gaming Corporation held a 5% stake, valued at $1.755 billion. Flutter Entertainment acquired the stake and agreed a deal to secure 100% ownership of FanDuel.

According to Keith Smith, this “will further strengthen the Company’s financial position as we continue to invest in our properties, pursue growth opportunities, return capital to shareholders and maintain a strong balance sheet – a strategy that continues to drive long-term shareholder value.”

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