The well-known gaming and entertainment corporation, Boyd Gaming, has announced a robust conclusion to 2022, with a 5% revenue surge in the final quarter. This remarkable accomplishment was fueled by their Las Vegas resident-focused operations, which achieved unprecedented peaks in both revenue and EBITDAR (earnings before interest, taxes, depreciation, amortization, and restructuring or rent expenses).
The enterprise generated a total revenue of $922.9 million during the fourth quarter. Gaming persisted as their principal revenue source at $653.9 million, trailed by food and beverage at $74.2 million, accommodations at $50 million, and supplementary revenue streams contributing $144.8 million.
Boyd Gaming ascribes this triumph to a multitude of elements, encompassing vigorous demand from locals within the Las Vegas market, the sustained potency of their destination-based business, and expansion in non-gaming amenities. Their digital gaming ventures also contributed to the favorable outcomes.
“Our operational units performed exceptionally well in propelling revenue growth and cultivating loyalty among our primary clientele,” remarked Keith Smith, President and CEO of Boyd Gaming. He further emphasized the company’s dedication to managing expenditures while providing unparalleled entertainment encounters.
In summary, Boyd Gaming’s fourth-quarter outcomes illustrate the company’s formidable standing within the gaming and hospitality sector. Their emphasis on core patrons, coupled with strategic allocations in their properties and online presence, implies sustained prosperity in the times ahead.
During this period, we’ve progressed significantly in our digital approach. The purchase of Pala Interactive is yielding positive outcomes, and our sports wagering collaboration with FanDuel is more robust than ever before.
We’re pleased to have distributed almost $600 million to our investors in 2022 via stock repurchases and dividend payments.”
Furthermore, Boyd Gaming declared impressive twelve-month figures for 2022, with income reaching $3.56 billion, a 6% rise. Earnings surged to $639.4 million in contrast to $463.8 million the prior year. In aggregate, modified earnings before interest, taxes, depreciation, amortization, and rent (EBITDAR) attained $1.39 billion, an increase from $1.37 billion in 2021.
Smith finished by stating, “In essence, 2022 was another triumphant year for our organization. We’re assured in our plan and our staff’s capability to manage the upcoming year effectively.”