Boyd Gaming Q3 2021 revenue shows 29 increase

Boyd Gaming has reported Q3 2021 revenue of $843

Boyd Gaming has reported Q3 2021 revenue of $843.1m, upwards 29% from $652.2m for Q3 2020.

Meanwhile, mesh income was $138.2m, or $1.21 per deal for Q3 2021, compared to $38.1 (or $0.33 per share) for the same full stop lastly year. Adjusted EBITDAR was $340.7m, showing an increase of almost 43% from $238.8m for the thirdly billet of 2020.

Keith Smith, President and CEO of Boyd Gaming, commented: “Since reopening our properties shoemaker's last year, we experience made rudimentary changes to our operating philosophy ‒ sharpening our centering on edifice trueness with core customers, spell executing our business concern at a often higher raze of efficiency. These changes hold resulted inward 5 consecutive quarters of strong performance, including tape third-quarter results this year.

"Continued growing inwards visitation and outlay among our core customers, combined with our more efficient operating model, resulted inwards a third-quarter company-wide revenue record, EBITDAR ontogeny of more than 42%, and a nearly 400-basis tip betterment inwards operating margins.

"As the pandemic recedes, restrictions are lifted and additional guests take back to our properties nationwide, we are confident in our power to get continued revenue and EBITDAR development end-to-end our business.”

Smith further stated that thanks to hard currency flow rate and several growing opportunities, the Board of Directors has authorised a $300m part repurchase program.

The computer programme is meant to turn out the trust of the get on inward the long-term prospects of the business, as fountainhead as the balanced near in allocating working capital to expanding upon investments.

Additionally, the companion has $61m remaining under a previous repurchase computer programme and it intends to pretend regular purchases of its vernacular stock. The balance sheet study showed that Boyd Gaming had hard currency on mitt of $570.0m and come debt of $3.38bn, as of 30 Sep 2021.