Casino operator Boyd Gaming posted its fifth consecutive quarter of revenue growth thanks to continued strong performance at its Atlantic City casino and a healthy rebound in its Las Vegas locals business.
For the three months ending Dec. 31, Boyd’s overall revenue increased 2.1% to $542.7m while adjusted earnings rose 13.1% to $154.2m. The company reported a net loss for the quarter of $6.9m, a significant improvement over the $32.4m loss Boyd reported in Q4 2014.
Revenue in Boyd’s Las Vegas Locals segment rose 4.8% to $158.8m, while adjusted earnings rose 10.7% to $44m. The results are the best the segment has reported since the pre-recession heyday of 2007 and the company says it expects continued progress in 2016, with both gaming and non-gaming revenue enjoying broad-based growth.
Revenue was similarly sunny in the Downtown Law Vegas segment, which improved 4.8% to $62.5m on significant increases in visitation by the segment’s loyal Hawaiian clientele. Revenue at Boyd’s Midwest and South ($201m) and Peninsula ($120.5m) segments were basically flat year-on-year.