Monday, September 26, 2022

Boyd Gaming s full year 2021 revenue surpasses pre-pandemic levels

Boyd Gaming generated $3.4bn in revenue for 2021, exceeding pre-pandemic levels after a slump in 2020.

The Las Vegas-based casino company’s revenue returned to growth in 2021, up 3% from 2019 when it generated approximately $3.3bn.

After being subject to state-mandated closures in the first half of 2020, Boyd’s revenues experienced a resurgence in 2021.

Its financial performance steadily improved over the course of the year to end on a high point. For the fourth quarter of 2021, the company’s revenue was up 5.6% from the same period in 2019, and 38% higher than for Q4 2020.

Its performance for this period was driven by a strong performance from its properties in the Midwest and South.

These regions generated more than half of the company’s revenue for the fourth quarter, producing $590m out of nearly $880m in total.

Keith Smith, President and CEO of Boyd Gaming, remarked on his company’s performance for the full-year 2021, and looked forward to 2022.

“Our company finished 2021 with record quarterly performances across every segment of our operations. For the fourth straight quarter, we set new records for company-wide EBITDAR and operating margins,” said Smith.

“And on a full-year basis, we surpassed our previous EBITDAR record by more than 50%, as we achieved company-wide operating margins of more than 40%.

“As we begin 2022, we remain focused on executing our proven operating strategy, as well as driving incremental growth through strategic reinvestments in our portfolio and the continued expansion of our online business.”

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