Boyd Gaming generated $990.5 million in revenue in the third quarter of 2026, a slight decline from the third quarter of last year, attributing the results to weakness in trade to Las Vegas.
“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 our Las Vegas locals portfolio,” Keith Smith, president and CEO of Boyd, said Thursday.
Smith also noted strength in the performance of the company’s Midwest & South segment. Boyd operates 27 casinos in 11 states, its Stardust casino gaming and Boyd Sports apps, and manages Sky River Casino in northern California in partnership with the Wilton Rancheria Tribe, as well as developing the Norfolk Casino Resort in Virginia alongside the Pamunkey Indian Tribe.
Boyd reported third-quarter revenue 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 Las Vegas-based company’s net income for the third quarter of 2025 benefited from a $1.4 billion after-tax gain from the sale of their equity interest in FanDuel and was impacted by $65.1 million in non-cash, pretax, long-lived, asset-impairment charges.
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 revenue 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 Las Vegas, Boyd’s results reflected increased softness in the market’s 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.
Boyd noted that 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 company’s online segment posted double-digit Adjusted EBITDAR growth, which was driven by continued strength in the company’s Stardust casino app.
