The leading gaming and hospitality company, operating a diverse portfolio of 28 venues in 10 different US states, Boyd Gaming Corporation, released its financial results for the second quarter.
The latest unaudited report, covering the quarter ended June 30, 2025, pointed to strong revenue growth, positively impacted by a notable increase in the company's gaming and online operations.
Online revenue soars, gaming revenue performs well
During the second quarter of 2025, Boyd Gaming's revenue soared to $1.03bn, a figure that pointed to a notable year-over-year increase considering that for the same period in 2024, the total revenue halted at $967.5m.
A breakdown provided by the company confirms that revenue increased across all of its operating segments, with the sole exception being room revenue, which decreased slightly to $51.5m, down from $52.6m for Q2 in 2024.
On the other hand, gaming revenue increased by more than $20m to $671.5m in Q2 this year, while food and beverage revenue increased year-over-year as well, hitting $78.2m.
The biggest year-over-year growth in terms of revenue during the second quarter was recorded by Boyd Gaming's online operations.
In Q2 2024, the company's online revenue halted at $129.9m. During the corresponding period this year, the online revenue skyrocketed to $173.1m.
While Boyd Gaming's revenue from management fees increased to $23.8m in Q2 this year, the revenue from other sources was relatively on par year-over-year at $36.1m.
Additional data released by the company reveals that total adjusted EBITDAR for the second quarter of 2025 increased hitting $357.9m. In contrast, for the corresponding period in 2024, total adjusted EBITDAR halted at $344.2m.
Total adjusted earnings increased by more than $4m year-over-year to $154.2m, or $1.87 per share.
The sale of the company's stake in FanDuel is expected to boost its growth
Keith Smith, Boyd Gaming's President and Chief Executive Officer, shared his excitement about the latest results, Casino Guru News learned from a press release.
"Our Company delivered a strong performance in the second quarter, with broad-based growth across our operating segments, including our Online and Managed segments," he explained.
Moreover, Smith pointed out: "We achieved our strongest property-level revenue and Adjusted EBITDAR growth in more than three years, with property-level margins once again exceeding 40%. This growth was supported by continued strength in play from our core customers, as well as improvements in retail play."
According to the President and Chief Executive Officer, the company's plan to sell its stake in FanDuel to Flutter is expected to further strengthen Boyd Gaming's financial position.
Finally, Smith predicted that the strategic divestment would enable the company to continue to pursue new growth opportunities while also returning capital to shareholders.
Focusing on the bigger picture, Boyd Gaming recorded an increase in its revenue for the first six months, compared to the same period last year.
In the first six months of last year, until June 30, the company reported $1.93bn in total revenue.
During the same period this year, the total revenue increased to $2.06bn.
