Boyd Gaming Reports Modest Q2 Growth Amid Regional Strength and Las Vegas Challenges
Boyd Gaming Corporation (NYSE:BYD) reported modest second-quarter growth, with revenue rising 3% and EBITDA increasing by 2%. The company's Midwest and South segment was a standout performer, contributing to the results through strong customer spending closer to home. Property margins in this region reached nearly 38%, the highest level in almost two years. The performance offset weaker Las Vegas destination traffic and construction disruptions at Suncoast. Despite these challenges, Boyd raised its full-year guidance for online EBITDA by $5 million and managed business guidance by $3 million. The company also plans to continue share buybacks, ongoing renovations in Las Vegas, and long-term projects like the Norfolk resort development. Boyd's CEO attributed the growth to a diversified business model and capital investments across customer segments. CFO Josh Hirsberg noted that destination traffic had an impact of about $5 million on EBITDAR for the quarter.
Tickers: $BYD
Topics: capital_expenditure ebitda_increase guidance_update revenue_growth