Boyd Gaming witnessed a minor revenue uptick year-over-year in the recent quarter, even with a 6% dip in income from its gambling segment.
This expansion is largely due to the firm’s varied income sources. Although gaming remains a substantial contributor, generating roughly $685 million, earnings from non-gaming divisions such as lodging and additional services saw a marked rise. This counterbalanced the decrease in gaming income, which fell by over $40 million versus the corresponding period last year.
Despite the total revenue growth, Boyd Gaming’s adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) experienced an 8% reduction. Nevertheless, CEO Keith Smith pointed out that this number follows a period of unprecedented success in the preceding year, making for a challenging comparison. He stressed that the second quarter of 2021 profited considerably from government aid programs and the easing of pandemic limitations, establishing an exceptionally high standard.
Therefore, he deemed the firm’s most recent quarterly performance “robust.” He highlighted their positive trajectory, noting increased engagement from crucial customer segments compared to the same period the previous year. He even stressed that this expansion persists despite inflationary pressures affecting everyone. In essence, he expressed significant satisfaction with the current progress and confidence in the company’s approach to navigating any economic challenges.
