Boyd Gaming Corporation Q3 2025 Earnings Recap

BYD Q3 2025 October 24, 2025

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Boyd Gaming delivered a robust third quarter with revenue surpassing $1 billion and EBITDAR of $322 million, reflecting strong performance across local gaming markets, despite some softness in destination business.

Earnings Per Share Beat

$1.72 vs $1.62 est.

+6.2% surprise

Revenue Beat

1004361000 vs 875102359 est.

+14.8% surprise

Market Reaction

1-Day -7.31%

5-Day -9.61%

30-Day -7.0%

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Key Takeaways

Revenue growth driven by exceptional demand from core customers, overshadowing declines in destination business.
Las Vegas Locals segment achieved revenue of $211 million with EBITDAR margins steady at 47%, bolstered by efficient operations.
Midwest and South segment recorded its strongest quarterly performance in three years, with 3% revenue growth to $539 million.
Online segment EBITDAR guidance increased to $60 million for 2025, with expectations of $30 million in 2026.
Successful management of Sky River Casino continues, with expansion plans set to bolster growth further in Northern California.

This summary was generated by AI from the official earnings call transcript and is provided for informational purposes only. It does not constitute financial advice. For the complete transcript and financial data, visit BYD on AllInvestView.