“This quarter the gaming revenue growth from our core customer helped to offset declines in spend from the stimulus driven results we’ve benefited from last year during the third quarter,” Chief Financial Officer Josh Hirsberg said.

Smith said visitation from Hawaii is still below pre-pandemic levels, but the total play is 7 percent higher.

It partially attributed the strong performance to the return of its Hawaiian customers, an important demographic given the company’s historic marketing connections. Leadership noted the downtown Las Vegas segment had cash flow margins that were 49 percent better than the pre-pandemic third quarter in 2019. Officials reported revenue trends are increasing among “core customers” - cash flow measures in the locals segment was nearly 75 percent above 2019’s third quarter and trailing only behind 2021’s record third quarter. That’s compared with a net income of $138.2 million, or $1.21 per share, on revenue of $843.1 million during the same quarter in 2021. Overall, we are encouraged by the resiliency of our business, and remain confident in our strategy and our ability to deliver consistent results in the current economic environment.”īoyd reported net income of $157 million, or $1.46 per share, on revenue of $877.3 million, for the quarter ending Sept. “Our strong operating performance is producing robust free cash flow, allowing us to return nearly $500 million in capital to our shareholders so far this year. “These results were driven by our continued focus on core customers and sustained efficiencies throughout our business, as our operating model is successfully meeting today’s challenges and delivering consistent results,” Smith said. Keith Smith, the company’s president and CEO, called the quarter a “solid performance” in a statement ahead of its third-quarter earnings call.

(Steel Brooks/Las Vegas Review-Journal)īoyd Gaming Corp.’s locals and downtown gaming segments continue to grow well past pre-pandemic measures, company officials said Tuesday.

Fremont Hotel and Casino, a Boyd Gaming property in downtown Las Vegas.

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