Boyd Gaming hails “significant progress” in plan to make money

Casino operator Boyd Gaming enjoyed “significant progress” in executing its plan for world – or at least regional US market – domination in the second quarter of 2018.

Figures released Thursday show the Las Vegas-based Boyd generated revenue of $618.8m in the three months ending June 30, up 2.1% from the same period last year. Operating income was up 7.5% to $96.2m while net income dropped one-fifth to $38.9m.

It should be noted that Q2 2017 enjoyed a $21m bump from Boyd’s former 50% stake in Atlantic City’s market-leading Borgata casino, which the company sold to its Borgata partner MGM Resorts. Going purely on income from continuing operations, Boyd’s bottom line was up nearly 40%.

All three of Boyd’s business segments enjoyed mild revenue gains in Q2, including the Las Vegas Locals market, which saw revenue inch up to $220m but adjusted earnings rose 11% to $70.2m thanks to the highest Q2 operating margin since 2005. The Downtown Las Vegas segment reported revenue of $61.2m while earnings rose 8% to $13.5m.