Boyd Gaming Delivers Remarkable Profits Amidst Global Economic Recession
Smokin' Financial Achievements by Boyd Gaming in Q3 2022!
(However, when it comes to wallet-draining crises and economic hurdles, it seems the thrill of gambling just doesn't faze folks. That's the tale Boyd Gaming is spinning with its latest financial report for Q3 2022. Let's dig in!)
Boyd Gaming's Revenue: A Junior Mint Rise of 4%
Operating across ten U.S. states, Boyd Gaming's gambling joints have conjured up a 4% increase in revenue for Q3 2022, compared to the brave ol' days of Q3 2021. With revenue galloping from $843.1 million last year to an exhilarating $877.3 million this year, honey, money's pouring in!
The juicy net income is also arearing its head, boasting a colossal $157.0 million for Q3 2022, a stimulating surge from the mere $138.2 million checked in by Q3 2021.
But despite the EBITDAR (Earnings Before Interest, Taxes, Depreciation, Amortization, and Recurring non-cash items) skimming ever so slightly, dipping to $337.7 million compared to $340.7 million, the adjusted earnings held their own, raking in $159.2 million, an almost 7% jump from the $149.0 million of Q3 2021.
Winning Customers and Moolah from Non-Gaming Offerings
The cherry on top? A 5% year-on-year increase in core players' wagers and Growth in non-gaming offerings, like hotels, food, and drinks. The hotel earnings padded out by 5%, room occupancy gleaming with a 6% boost, and the revenue from gobbling down good eats and quenching thirsts swelling by a noteworthy 11%.
Boyd Gaming's Shareholders: Fueling Their Fires with Dividends
Boyd Gaming's CEO Keith Smith was keen to praise the results, remarking, "These victorious numbers are thanks to our relentless focus on core customers and tight efficiencies across the board. Our strategy is meeting today's challenges with flying colors, paving the way for consistent profits. The robust cash flow we're harnessing is allowing us to funnel nearly $500 million back to our loving shareholders throughout 2022."
The third-quarter dividend for stockholders equated to a sizzling $0.15 per share, doled out on October 15 with flair. The company's share buyback program scooped up a cool $135 million during Q3 2022.
All in all, Boyd Gaming's spending spree on shareholders gobbling up a whopping $480 million in dividend payouts and shares repurchases.
- In Q3 2022, Boyd Gaming, a business encompassing casino-and-gambling establishments across ten U.S. states, demonstrated a significant 4% rise in revenue compared to Q3 2021.
- The excitement doesn't stop at gaming, as Boyd Gaming also recorded a substantial 11% increase in revenue generated from non-gaming offerings such as hotels, food, and drinks.
- The net income for Q3 2022 surpassed that of 2021, soaring to an impressive $157.0 million, reflecting positively on the company's finance and wealth-management strategies.
- As the gaming and hospitality trends continue to evolve in 2022, Boyd Gaming is capitalizing on this momentum, with their Q3 earnings indicating a promising future for the casino-games sector.
- Boyd Gaming's CEO, Keith Smith, applauded the results, attributing them to a strong focus on core customers and efficient operations, furthering their commitment to delivering consistent profits.
- In line with their promising financial performance, Boyd Gaming shareholders have been rewarded with over $480 million in dividend payments and share repurchases in 2022, further solidifying the company's dedication to its investors.
