BOYD GAMING REPORTS THIRD-QUARTER 2026 RESULTS

Las Vegas weakness accompanied higher Online adjusted EBITDAR and $164 million in quarterly share repurchases.

Rhea-AI Summary

Boyd Gaming (BYD) reported third-quarter 2026 revenue of $990.5 million, down from the same quarter a year earlier. Net income attributable to Boyd was $124.9 million, or $1.71 per share, versus $1.4 billion, or $17.81 per share. The prior-year quarter included a $1.4 billion after-tax gain from selling its FanDuel interest and $65.1 million in pretax impairment charges.

Adjusted EBITDAR, an adjusted earnings measure before interest, taxes, depreciation, amortization and rent, fell to $319.6 million from $321.8 million. Adjusted earnings per share declined to $1.67 from $1.72. Las Vegas segment results weakened, while Midwest & South revenue and Online adjusted EBITDAR increased. Boyd repurchased $164 million of shares during the quarter, leaving $387 million authorized at September 30. Cash totaled $297.2 million and debt totaled $2.7 billion.

15 points · 0 major

NegativeiHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 26 points

How the balance works

Positive

• Moderate pointThird-quarter share repurchases returned $164 million; authorization remaining was $387 million at September 30, 2026. 3.2% of market cap
• Moderate pointThird-quarter operating income rose to $194.902 million from $139.764 million a year earlier.
• Minor pointMidwest & South quarterly revenue increased to $540.489 million from $538.852 million a year earlier.
• Minor pointMidwest & South quarterly adjusted EBITDAR edged up to $201.629 million from $201.603 million a year earlier.
• Minor pointMidwest & South quarterly revenue grew nearly 3%, excluding Tunica's closure, Shreveport's sale and higher Kansas Star property taxes.

10 minor points

• Minor pointMidwest & South quarterly adjusted EBITDAR grew approximately 2.5%, excluding those same items.
• Minor pointLas Vegas Locals properties excluding Orleans and Suncoast achieved quarterly revenue and adjusted EBITDAR growth of 3%.
• Minor pointThose remaining Las Vegas Locals properties achieved quarterly gaming revenue growth of 3.5%.
• Minor pointOnline quarterly adjusted EBITDAR increased to $10.925 million from $9.424 million a year earlier.
• Minor pointManaged & Other quarterly revenue rose to $40.628 million from $35.846 million a year earlier.
• Minor pointManaged & Other quarterly adjusted EBITDAR increased to $29.757 million from $26.269 million a year earlier.
• Minor pointNine-month Midwest & South revenue increased to $1,622.472 million from $1,583.516 million in 2025.
• Minor pointNine-month Midwest & South adjusted EBITDAR rose to $603.018 million from $586.226 million in 2025.
• Minor pointNine-month Managed & Other revenue increased to $120.457 million from $109.691 million in 2025.
• Minor pointNine-month Managed & Other adjusted EBITDAR rose to $88.865 million from $79.551 million in 2025.

Negative

• Moderate pointThird-quarter revenue declined to $990.455 million from $1,004.361 million a year earlier.
• Moderate pointThird-quarter attributable net income fell to $124.9 million from $1.4 billion, which included the FanDuel sale gain.
• Moderate pointThird-quarter adjusted earnings fell to $121.7 million from $139.1 million a year earlier.
• Moderate pointOnline segment quarterly revenue declined to $154.466 million from $165.597 million a year earlier.
• Moderate pointNine-month operating income fell to $559.592 million from $582.021 million in 2025.

21 minor points

• Minor pointThird-quarter earnings per share declined to $1.71 from $17.81 a year earlier.
• Minor pointThird-quarter adjusted earnings per share declined to $1.67 from $1.72 a year earlier.
• Minor pointThird-quarter adjusted EBITDAR decreased to $319.6 million from $321.8 million a year earlier.
• Minor pointLas Vegas Locals quarterly revenue declined to $207.449 million from $210.842 million a year earlier.
• Minor pointLas Vegas Locals quarterly adjusted EBITDAR fell to $87.389 million from $92.128 million a year earlier.
• Minor pointLas Vegas destination softness primarily affected Orleans; construction disruption affected Suncoast during the quarter.
• Minor pointDowntown Las Vegas quarterly revenue fell to $47.423 million from $53.224 million a year earlier.
• Minor pointDowntown Las Vegas quarterly adjusted EBITDAR declined to $12.853 million from $16.118 million a year earlier.
• Minor pointDowntown results faced destination softness, reduced Hawaiian visitation, storms in Hawaii and higher airfares.
• Minor pointMidwest & South results faced higher Kansas Star property taxes, Tunica's closure and Shreveport's sale.
• Minor pointTotal debt stood at $2.7 billion at September 30, 2026.
• Minor pointNine-month revenue declined to $3,022.196 million from $3,029.924 million in 2025.
• Minor pointNine-month attributable net income fell to $361.709 million from $1,702.870 million in 2025.
• Minor pointNine-month earnings per share declined to $4.83 from $20.58 in 2025.
• Minor pointNine-month adjusted EBITDAR declined to $987.512 million from $1,017.144 million in 2025.
• Minor pointNine-month Las Vegas Locals revenue declined to $650.451 million from $662.732 million in 2025.
• Minor pointNine-month Las Vegas Locals adjusted EBITDAR fell to $293.767 million from $311.389 million in 2025.
• Minor pointNine-month Downtown Las Vegas revenue declined to $154.473 million from $165.764 million in 2025.
• Minor pointNine-month Downtown Las Vegas adjusted EBITDAR fell to $48.658 million from $56.446 million in 2025.
• Minor pointNine-month Online segment revenue declined to $474.343 million from $508.221 million in 2025.
• Minor pointNine-month Online adjusted EBITDAR fell to $29.871 million from $54.974 million in 2025.

Key Figures

Revenue: $990.5 million vs. $1.0 billion Net income: $124.9 million vs. $1.4 billion Adjusted EBITDAR: $319.6 million vs. $321.8 million +5 more

Revenue

$990.5 million vs. $1.0 billion

Q3 2026 vs. Q3 2025

Net income

$124.9 million vs. $1.4 billion

Q3 2026 vs. Q3 2025; prior-year results included a $1.4 billion after-tax FanDuel sale gain

Adjusted EBITDAR

$319.6 million vs. $321.8 million

Q3 2026 vs. Q3 2025

Adjusted earnings

$121.7 million vs. $139.1 million

Q3 2026 vs. Q3 2025

Adjusted earnings per share

$1.67 vs. $1.72

Q3 2026 vs. Q3 2025

Share repurchases

$164 million

Q3 2026

Repurchase authorization remaining

$387 million

As of September 30, 2026

Quarterly cash dividend

$0.20 per share

Paid October 15, 2026

Historical Context

1 past event · Latest: Jul 23

1 event

1. Jul 23

   Quarterly earnings

   24h Move

   +0.6%

   Q2 revenue was essentially flat while net income and adjusted EBITDAR declined year over year.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

adjusted EBITDAR, non-GAAP financial measures, long-lived asset impairment charges

3 terms

adjusted EBITDAR financial

"Total Adjusted EBITDAR(1) was $319.6 million in the third quarter of 2026"

Adjusted EBITDAR is a company’s reported profit measure that starts with operating earnings and then adds back interest, taxes, depreciation, amortization and rent, plus any one‑time items companies exclude. It aims to show how much cash a business generates from its core operations before the costs of financing, non‑cash accounting charges and property leases, like comparing two stores’ underlying sales by ignoring rent and loan payments. Investors use it to compare operating performance across firms and assess ability to cover fixed obligations, but companies may calculate it differently, so comparisons require caution.

non-GAAP financial measures financial

"See footnotes at the end of the release for additional information relative to non-GAAP financial measures."

Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.

long-lived asset impairment charges financial

"impacted by $65.1 million in non-cash, pretax long-lived asset impairment charges."

An accounting loss recorded when a company's long-lived asset (like property, plant, equipment, or an intangible with a finite life) is determined to be worth less on the books than its reported carrying amount. Under common accounting rules this is recognized after testing whether future cash flows expected from the asset are insufficient to recover its carrying amount; the impairment charge reduces the asset's carrying value on the balance sheet to its recoverable amount (often fair value) and is reported as an expense on the income statement, and is typically a noncash write-down.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

LAS VEGAS, Oct. 22, 2026 /PRNewswire/ -- Boyd Gaming Corporation (NYSE: BYD) today reported financial results for the third quarter ended September 30, 2026.  

Keith Smith, President and Chief Executive Officer of Boyd Gaming, said, "Our third-quarter performance continued to highlight the benefits of our diversified business model, the ongoing strength of our core customer and the appeal of our property investments nationwide. During the quarter, our results reflected continued growth in our Midwest & South segment, increased play from southern Nevada residents, and strong gains in both our Online and Managed operations. And while quarterly results were impacted by increased softness in destination business to Las Vegas, primarily affecting our Orleans property, we are encouraged by the continued strength of the remainder of our Las Vegas Locals portfolio and the performance of our Midwest & South segment. Finally, we maintained our balanced approach to capital allocation during the third quarter, investing in growth across our portfolio while returning nearly $180 million to our shareholders through share repurchases and dividends. With our robust free cash flow, strong balance sheet and efficient operating model, our Company is well-positioned to continue creating long-term value for our shareholders."

Boyd Gaming reported third-quarter 2026 revenues of $990.5 million, compared to $1.0 billion in the third quarter of 2025. The Company reported net income of $124.9 million, or $1.71 per share, for the third quarter of 2026, compared to $1.4 billion, or $17.81 per share, for the year-ago period. The Company's net income for the third quarter of 2025 benefited from a $1.4 billion after tax gain from the sale of the Company's equity interest in FanDuel, and was impacted by $65.1 million in non-cash, pretax long-lived asset impairment charges.

Total Adjusted EBITDAR⁽¹⁾ was $319.6 million in the third quarter of 2026 versus $321.8 million in the third quarter of 2025. Adjusted Earnings⁽¹⁾ for the third quarter of 2026 were $121.7 million, or $1.67 per share, compared to $139.1 million, or $1.72 per share, for the same period in 2025. 

(1) See footnotes at the end of the release for additional information relative to non-GAAP financial measures.

Operations Review
During the third quarter, results in the Midwest & South segment were impacted by the closure of Sam's Town Tunica in November 2025, the sale of Sam's Town Shreveport in August 2026, and higher property taxes at Kansas Star. Adjusting for these items, Midwest & South revenues increased nearly 3% and Adjusted EBITDAR grew approximately 2.5% during the third quarter. Continued growth in play from core and retail customers and benefits from recent capital investments drove increases in adjusted gaming revenue in the Midwest & South segment. In the Company's Las Vegas Locals segment, results reflected increased softness in Las Vegas destination business, primarily at the Orleans, as well as construction disruption at the Suncoast; however, the remainder of the properties in this segment achieved revenue and Adjusted EBITDAR growth of 3%, with gaming revenue gains of 3.5%, highlighted by increased play from southern Nevada residents. Downtown Las Vegas results were impacted by increased softness in Las Vegas destination business, declines in Hawaiian visitation due to several major storms in Hawaii and higher airfares during the quarter.

The Online segment and Managed & Other both continued to grow during the third quarter. Double-digit Adjusted EBITDAR growth in the Online segment was driven by continued strength in the Company's online casino gaming business.  Growth in Managed & Other reflected increased management fees from Sky River following its recently completed expansion.

Dividend and Share Repurchase Update
Boyd Gaming paid a quarterly cash dividend of $0.20 per share on October 15, 2026, as previously announced.

As part of its ongoing share repurchase program, the Company repurchased $164 million in shares of its common stock during the third quarter of 2026. The Company had $387 million remaining under its current share repurchase authorization as of September 30, 2026.

Balance Sheet Statistics
As of September 30, 2026, Boyd Gaming had cash on hand of $297.2 million, and total debt of $2.7 billion. 

Conference Call Information
Boyd Gaming will host a conference call to discuss its third-quarter 2026 results today, October 22, at 5:00 p.m. Eastern.  The conference call number is (866) 652-5200, passcode 629480.  Please call up to 15 minutes in advance to ensure you are connected prior to the start of the call. 

The conference call will also be available online at https://investors.boydgaming.com or https://app.webinar.net/7XDKZDdZVE2.

Following the call's completion, a replay will be available by dialing (855) 669-9658 today, October 22, and continuing through Thursday, October 29.  The passcode for the replay will be 8824606.  The replay will also be available at https://investors.boydgaming.com.

 

BOYD GAMING CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
(In thousands, except per share data)		2026		2025		2026		2025
Revenues
Gaming		$             655,026		$             657,371		$          1,988,816		$          1,967,519
Food & beverage		73,744		75,570		227,216		227,895
Room		43,109		45,244		139,469		144,085
Online		33,240		26,893		91,313		106,000
Online reimbursements		121,226		138,704		383,030		402,221
Management fee		27,581		23,697		82,283		72,618
Other		36,529		36,882		110,069		109,586
Total revenues		990,455		1,004,361		3,022,196		3,029,924
Operating costs and expenses
Gaming		262,638		259,660		785,117		765,337
Food & beverage		65,635		67,468		197,530		196,438
Room		19,714		19,486		58,687		57,975
Online		22,044		17,784		60,706		50,392
Online reimbursements		121,226		138,704		383,030		402,221
Other		12,519		13,076		38,191		38,016
Selling, general and administrative		105,370		104,005		326,237		321,916
Master lease rent expense (a)		28,993		28,584		86,433		85,186
Maintenance and utilities		41,078		40,472		115,336		114,519
Depreciation and amortization		91,267		73,749		277,357		211,957
Corporate expense		29,386		30,622		99,413		95,938
Project development, preopening and writedowns		(5,356)		3,972		30,268		5,214
Impairment of assets		—		65,123		—		97,395
Other operating items, net		1,039		1,892		4,299		5,399
Total operating costs and expenses		795,553		864,597		2,462,604		2,447,903
Operating income		194,902		139,764		559,592		582,021
Other expense (income)
Interest income		(1,261)		(1,501)		(4,408)		(3,572)
Interest expense, net of amounts capitalized		33,785		33,262		93,659		132,268
Loss on early extinguishments and modifications of debt		—		1,446		391		1,446
Other, net (b)		89		(1,735,479)		93		(1,735,420)
Total other (income) expense, net		32,613		(1,702,272)		89,735		(1,605,278)
Income before income taxes		162,289		1,842,036		469,857		2,187,299
Income tax provision		(38,699)		(403,200)		(112,051)		(487,227)
Net income		123,590		1,438,836		357,806		1,700,072
Net loss attributable to noncontrolling interest		1,343		1,157		3,903		2,798
Net income attributable to Boyd Gaming		$             124,933		$          1,439,993		$             361,709		$          1,702,870
Basic net income per common share		$                   1.71		$                 17.81		$                   4.83		$                 20.58
Weighted average basic shares outstanding		73,048		80,860		74,864		82,740
Diluted net income per common share		$                   1.71		$                 17.81		$                   4.83		$                 20.58
Weighted average diluted shares outstanding		73,048		80,875		74,867		82,756
(a) Rent expense incurred by those properties subject to a master lease with a real estate investment trust.
(b) Includes the gain recognized on the sale of the Company's equity interest in FanDuel during the three and nine months ended September 30, 2025.

 

BOYD GAMING CORPORATION
SUPPLEMENTAL INFORMATION
Reconciliation of Adjusted EBITDA to Net Income Attributable to Boyd Gaming
(Unaudited)
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
(In thousands)		2026		2025		2026		2025
Total Revenues by Segment
Las Vegas Locals		$             207,449		$             210,842		$             650,451		$             662,732
Downtown Las Vegas		47,423		53,224		154,473		165,764
Midwest & South		540,489		538,852		1,622,472		1,583,516
Online		154,466		165,597		474,343		508,221
Managed & Other		40,628		35,846		120,457		109,691
Total revenues		$             990,455		$          1,004,361		$          3,022,196		$          3,029,924
Adjusted EBITDAR by Segment
Las Vegas Locals		$               87,389		$               92,128		$             293,767		$             311,389
Downtown Las Vegas		12,853		16,118		48,658		56,446
Midwest & South		201,629		201,603		603,018		586,226
Online		10,925		9,424		29,871		54,974
Managed & Other		29,757		26,269		88,865		79,551
Corporate expense, net of share-based compensation expense (a)		(22,924)		(23,777)		(76,667)		(71,442)
Adjusted EBITDAR		319,629		321,765		987,512		1,017,144
Master lease rent expense (b)		(28,993)		(28,584)		(86,433)		(85,186)
Adjusted EBITDA		290,636		293,181		901,079		931,958
Other operating costs and expenses
Deferred rent		141		147		405		441
Depreciation and amortization		91,267		73,749		277,357		211,957
Share-based compensation expense		8,643		8,534		29,158		29,531
Project development, preopening and writedowns		(5,356)		3,972		30,268		5,214
Impairment of assets		—		65,123		—		97,395
Other operating items, net		1,039		1,892		4,299		5,399
Total other operating costs and expenses		95,734		153,417		341,487		349,937
Operating income		194,902		139,764		559,592		582,021
Other expense (income)
Interest income		(1,261)		(1,501)		(4,408)		(3,572)
Interest expense, net of amounts capitalized		33,785		33,262		93,659		132,268
Loss on early extinguishments and modifications of debt		—		1,446		391		1,446
Other, net (c)		89		(1,735,479)		93		(1,735,420)
Total other (income) expense, net		32,613		(1,702,272)		89,735		(1,605,278)
Income before income taxes		162,289		1,842,036		469,857		2,187,299
Income tax provision		(38,699)		(403,200)		(112,051)		(487,227)
Net income		123,590		1,438,836		357,806		1,700,072
Net loss attributable to noncontrolling interest		1,343		1,157		3,903		2,798
Net income attributable to Boyd Gaming		$             124,933		$          1,439,993		$             361,709		$          1,702,870
(a) Reconciliation of corporate expense:
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
(In thousands)		2026		2025		2026		2025
Corporate expense as reported on Condensed Consolidated Statements of Operations		$               29,386		$               30,622		$               99,413		$               95,938
Corporate share-based compensation expense		(6,462)		(6,845)		(22,746)		(24,496)
Corporate expense, net, as reported on the above table		$               22,924		$               23,777		$               76,667		$               71,442
(b) Rent expense incurred by those properties subject to a master lease with a real estate investment trust.
(c) Includes the gain recognized on the sale of the Company's equity interest in FanDuel during the three and nine months ended September 30, 2025.

 

BOYD GAMING CORPORATION
SUPPLEMENTAL INFORMATION
Reconciliations of Net Income attributable to Boyd Gaming to Adjusted Earnings
and Net Income Per Share to Adjusted Earnings Per Share
(Unaudited)
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
(In thousands, except per share data)		2026		2025		2026		2025
Net income attributable to Boyd Gaming		$             124,933		$          1,439,993		$             361,709		$          1,702,870
Pretax adjustments:
Project development, preopening and writedowns		(5,356)		3,972		30,268		5,214
Impairment of assets		—		65,123		—		97,395
Other operating items, net		1,039		1,892		4,299		5,399
Loss on early extinguishments and modifications of debt		—		1,446		391		1,446
Other, net (a)		89		(1,735,479)		93		(1,735,420)
Total adjustments		(4,228)		(1,663,046)		35,051		(1,625,966)
Income tax effect for above adjustments		953		362,197		(7,578)		354,125
Adjusted earnings		$             121,658		$             139,144		$             389,182		$             431,029
Net income per share, diluted		$                   1.71		$                 17.81		$                   4.83		$                 20.58
Pretax adjustments:
Project development, preopening and writedowns		(0.07)		0.05		0.40		0.06
Impairment of assets		—		0.80		—		1.18
Other operating items, net		0.02		0.02		0.06		0.06
Loss on early extinguishments and modifications of debt		—		0.02		0.01		0.02
Other, net (a)		—		(21.46)		—		(20.97)
Total adjustments		(0.05)		(20.57)		0.47		(19.65)
Income tax effect for above adjustments		0.01		4.48		(0.10)		4.28
Adjusted earnings per share, diluted		$                   1.67		$                   1.72		$                   5.20		$                   5.21
Weighted average diluted shares outstanding		73,048		80,875		74,867		82,756
(a) Includes the gain recognized on the sale of the Company's equity interest in FanDuel during the three and nine months ended September 30, 2025.

                                                                                  

Non-GAAP Financial Measures
Our financial presentations include the following non-GAAP financial measures:

• EBITDA: earnings before interest, taxes, depreciation and amortization,
• Adjusted EBITDA: EBITDA adjusted for deferred rent, share-based compensation expense, project development, preopening and writedowns expense, impairments of assets, other operating items, net, gain or loss on early extinguishments and modifications of debt, net income (loss) attributable to noncontrolling interest and other items, net, as applicable,
• EBITDAR: EBITDA further adjusted for rent expense associated with master leases with a real estate investment trust,
• Adjusted EBITDAR: Adjusted EBITDA further adjusted for rent expense associated with master leases with a real estate investment trust,
• Adjusted Earnings: net income before project development, preopening and writedowns expense, impairments of assets, other operating items, net, gain or loss on early extinguishments and modifications of debt, net income (loss) attributable to noncontrolling interest, and other non-recurring adjustments, net, as applicable, and,
• Adjusted Earnings Per Share (Adjusted EPS): Adjusted Earnings divided by weighted average diluted shares outstanding.

Collectively, we refer to these and other non-GAAP financial measures as the "Non-GAAP Measures." 

The Non-GAAP Measures are commonly used measures of performance in our industry that we believe, when considered with measures calculated in accordance with accounting principles generally accepted in the United States (GAAP), provide our investors with a more complete understanding of our operating results and facilitates comparisons between us and our competitors. We provide this information to investors to enable them to perform comparisons of our past, present and future operating results and as a means to evaluate the results of core on-going operations. We have historically reported these measures to our investors and believe that the continued inclusion of the Non-GAAP Measures provides consistency in our financial reporting. We also believe this information is useful to investors in allowing greater transparency related to significant measures used by our management in their financial and operational decision-making, their evaluation of total company and individual property performance, in the evaluation of incentive compensation and in the annual budget process. Management also uses Non-GAAP Measures in the evaluation of potential acquisitions and dispositions. We believe these measures continue to be used by investors in their assessment of our operating performance and the valuation of our company.

The use of Non-GAAP Measures has certain limitations. Our presentation of the Non-GAAP Measures may be different from the presentation used by other companies and therefore comparability may be limited. While excluded from certain of the Non-GAAP Measures, depreciation and amortization expense, interest expense, income taxes and other items have been and will be incurred. Each of these items should also be considered in the overall evaluation of our results. Additionally, the Non-GAAP Measures do not consider capital expenditures and other investing activities and should not be considered as a measure of our liquidity. We compensate for these limitations by providing the relevant disclosure of our depreciation and amortization, interest and income taxes, capital expenditures and other items both in our reconciliations to the historical GAAP financial measures and in our consolidated financial statements, all of which should be considered when evaluating our performance. We do not provide a reconciliation of forward-looking Non-GAAP Measures to the corresponding forward-looking GAAP measure due to our inability to project special charges and certain expenses.

The Non-GAAP Measures are to be used in addition to and in conjunction with results presented in accordance with GAAP. The Non-GAAP Measures should not be considered as an alternative to net income, operating income, or any other operating performance measure prescribed by GAAP, nor should these measures be relied upon to the exclusion of GAAP financial measures. The Non-GAAP Measures reflect additional ways of viewing our operations that we believe, when viewed with our GAAP results and the reconciliations to the corresponding historical GAAP financial measures, provide a more complete understanding of factors and trends affecting our business than could be obtained absent this disclosure. Management strongly encourages investors to review our financial information in its entirety and not to rely on a single financial measure.

Forward-looking Statements and Company Information
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements contain words such as "may," "will," "might," "expect," "believe," "anticipate," "could," "would," "estimate," "continue," "pursue," or the negative thereof or comparable terminology, and may include (without limitation) information regarding the Company's expectations, goals or intentions regarding future performance. These forward-looking statements are based on the current beliefs and expectations of management and involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond Boyd Gaming's ability to control or estimate precisely. Additional factors that could cause actual results to differ are discussed under the heading "Risk Factors" and in other sections of the Company's Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, and in the Company's other current and periodic reports filed from time to time with the SEC. The reader is cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. All forward-looking statements in this press release are made as of the date hereof, based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward-looking statement.

About Boyd Gaming
Founded in 1975, Boyd Gaming Corporation (NYSE: BYD) is a leading geographically diversified operator of 26 gaming entertainment properties in 11 states. The Company also manages a tribal casino in northern California, and owns and operates Boyd Interactive, a B2B and B2C online casino gaming business. Boyd Gaming's nationwide portfolio is connected through Boyd Rewards, recognized as the nation's favorite casino loyalty program by readers of both USA Today and Newsweek.  Named by Forbes and Time magazines as one of "America's Best Companies," and led by one of the most experienced teams in the industry, Boyd Gaming is dedicated to delivering an outstanding entertainment experience and memorable guest service. For additional Company information and press releases, visit https://www.boydgaming.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/boyd-gaming-reports-third-quarter-2026-results-302917374.html

SOURCE Boyd Gaming Corporation

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Boyd Gaming's third-quarter 2026 earnings per share?

Boyd Gaming earned $1.71 per share in the third quarter of 2026, compared with $17.81 a year earlier. Adjusted earnings per share were $1.67, compared with $1.72. The prior-year quarter included a $1.4 billion after-tax gain from the sale of Boyd's FanDuel equity interest.

How much stock did Boyd Gaming repurchase in the third quarter of 2026?

Boyd Gaming repurchased $164 million of common stock during the third quarter of 2026. At September 30, 2026, $387 million remained under its current share repurchase authorization.

What drove Boyd Gaming's Online and Managed operations growth in the third quarter of 2026?

Boyd attributed Online adjusted EBITDAR growth to its online casino gaming business and Managed & Other growth to increased Sky River management fees following that property's recently completed expansion.

When did Boyd Gaming pay its latest quarterly dividend?

Boyd Gaming paid its previously announced quarterly cash dividend of $0.20 per share on October 15, 2026.