Boyd Gaming Corporation reported its third quarter 2023 financial results on Tuesday, revealing revenue of $903.2 million and a year-over-year decline in profit.
The Las Vegas-based casino and entertainment company reported a net income of $45.3 million, or $0.53 per share, for the quarter ending September 30th, 2023. This is a decrease of $7.3 million, or 13.7%, from the same period last year.
Revenue for the quarter was up 6.6% from the same period last year, driven by increases in both gaming and non-gaming revenue. Gaming revenue was up 8.2% to $717.1 million, while non-gaming revenue increased 4.3% to $186.1 million.
Boyd Gaming CEO Keith Smith commented on the results, saying: “We are pleased with our third quarter performance, which was driven by strong growth in our gaming and non-gaming businesses. We continue to see positive momentum in our core markets, and we remain focused on delivering long-term value for our shareholders.”
The company also reported that its adjusted EBITDA for the quarter was $163.3 million, a decrease of $1.7 million from the prior year period.
Boyd Gaming is one of the largest regional gaming companies in the United States, with operations in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, and Ohio. The company operates 24 properties across eight states, including the Las Vegas Strip’s Borgata Hotel Casino & Spa.
The company’s stock price closed at $25.60 on Tuesday, down 1.8% from the previous day’s close.