Boyd Gaming Corporation announced that its Board of Directors declared a cash dividend of $0.20 per share. The dividend will be paid on July 15, 2026 to shareholders who are on record as of June 15, 2026. This provides direct cash returns to current shareholders on the specified payment date.
Boyd Gaming chairman Marianne Boyd Johnson reported indirect open-market sales totaling 100,000 shares of Boyd Gaming common stock through family trusts on May 1 and May 5, 2026. She sold 37,086 shares at an average price of $85.27 and 62,914 shares at $84.03.
After these transactions, one trust holds 1,672,722 shares and another trust holds 1,609,808 shares of Boyd Gaming common stock. The filing also lists additional indirect holdings through limited partnerships and LLCs, plus 39,088 shares held directly in her own name.
Boyd Gaming Corporation generated Q1 2026 total revenues of $997.4 million, roughly flat versus $991.6 million a year earlier. Gaming remained the core driver at $650.5 million, while online revenue declined to $26.2 million as online reimbursements rose to $135.4 million.
Net income attributable to Boyd Gaming was $105.5 million, down from $111.4 million, though diluted EPS edged up to $1.37 from $1.31 on a smaller share count. Adjusted EBITDAR was $317.4 million versus $337.5 million, reflecting higher depreciation and project development and writedown expenses of $20.3 million.
Operating cash flow was $134.3 million, while capital expenditures totaled $155.2 million as the company invests heavily in growth, including the Norfolk, Virginia casino project with an expected aggregate spend of about $750 million and roughly $300 million planned in 2026. Boyd refinanced its bank debt with a new $2.65 billion secured credit facility and ended the quarter with $2.3 billion of long-term debt and $378.3 million in cash, cash equivalents and restricted cash. The company repurchased 1.85 million shares for $155.0 million at an average $83.94 and paid a quarterly dividend of $0.20 per share.
William S. Boyd reported a sale of 24,519 shares of Common Stock on 02/11/2026. The transaction shows aggregate proceeds of $2,108,089.58. The filing also lists an award of 8,514 RSU dated 02/21/2025.
Boyd Gaming Corporation reported first-quarter 2026 revenue of $997.4 million, slightly above $991.6 million a year earlier. Net income was $105.5 million, or $1.37 per share, compared with $111.4 million, or $1.31 per share. Adjusted EBITDAR was $317.4 million versus $337.5 million, while adjusted earnings were $123.1 million, or $1.60 per share, down from $137.7 million, or $1.62 per share.
Midwest & South delivered revenue and Adjusted EBITDAR growth, helped by stronger core and retail play and easier weather comparisons. Las Vegas Locals and Downtown Las Vegas were pressured by softer destination business and renovation disruption, while Online Adjusted EBITDAR declined.
The Company opened Cadence Crossing Casino in Las Vegas, continued developing a $750 million Virginia resort, and obtained regulatory approval for an expansion and modernization of its Par-A-Dice property in Illinois. Boyd paid a higher quarterly dividend of $0.20 per share, repurchased $155 million of stock, and added $500 million to its share repurchase authorization, leaving $707 million available as of March 31, 2026. Cash on hand was $372.7 million and total debt was $2.3 billion.
The Vanguard Group filed Amendment No. 9 to a Schedule 13G/A reporting its holdings in Boyd Gaming Corp. The filing states amount beneficially owned: 0 shares representing 0% of the class. It explains an internal realignment effective January 12, 2026, under SEC Release No. 34-39538, after which certain Vanguard subsidiaries report holdings separately.
Boyd Gaming Corporation is asking stockholders to vote at its virtual 2026 Annual Meeting on May 7, 2026. Stockholders of record on March 10, 2026 may vote online on three items: electing eight directors, ratifying Deloitte & Touche LLP as independent auditor for 2026, and approving an advisory say‑on‑pay resolution for named executive officers.
The company operates 27 gaming properties in 11 states plus an online casino business in the U.S. and Canada. For 2025, performance highlights include Adjusted EBITDAR of $1.4B, net income of $1.8B and earnings per share of $22.56, with results affected by an after‑tax gain from selling a FanDuel equity interest. Share repurchases and dividends exceeded $800M.
Executive pay is heavily performance‑based, using Adjusted EBITDAR and strategic goals for annual bonuses and a mix of performance shares, time‑based RSUs and career shares for long‑term incentives. 2023–2025 performance shares paid out at 128% of target. CEO Keith Smith’s 2025 total compensation was $14,697,487 versus median employee pay of $39,154, a 375:1 ratio. Governance features include a majority‑independent board, separated Chair and CEO roles, an independent presiding director, stock ownership guidelines, clawback and anti‑hedging policies, and no poison pill.