President and CEO of Boyd Gaming Keith Smith said that the company was maintaining “the strongest balance sheet in our company's history,” as it shared it’s Q4 and end-of-year results.
In the quarter ending December 31, 2024 (Q4), revenues reached US$1bn, up from $954m in Q4 2023. The Company reported net income of $170.5m, or $1.92 per share, compared to $92.6m, or $0.94 per share, for the year-ago period.
Total Adjusted EBITDAR was $379.3m in Q4 2024, up from $355.5m in Q4 2023.
For the full year 2024, Boyd Gaming reported revenues of $3.9bn, up from $3.7bn for the full year 2023. Net income reached $578m, or $6.19 per share, compared to net income of $620m, or $6.12 per share, for the full year 2023. The company's full-year 2023 results were impacted by $107.8m in non-cash, pretax goodwill and intangible asset impairment charges.
Total Adjusted EBITDAR for the full year 2024 was $1.4bn, essentially even with the prior year.
"Our company continued to deliver solid results in the fourth quarter, consistent with our strong full-year performance,” said Smith. “Our diversified business model, strong operating efficiencies and contributions from our recent property investments drove revenue and EBITDAR growth on a companywide basis during the fourth quarter, as we maintained property-level operating margins of over 40 per cent.
“We also continued our balanced approach to capital allocation throughout 2024, investing in our properties nationwide, returning nearly $750m to shareholders.
“As we mark the conclusion of another successful year, we are proud of the strong foundation we have built and are confident in our strategy to deliver long-term value for our shareholders."
