Boyd Gaming reported Q3 2026 net income of $124.9 million, down 91.1% year-on-year, while revenue fell 0.95% to $990.5 million.
The comparison was affected by a $1.4 billion after-tax gain from the sale of Boyd’s equity interest in FanDuel in 2025.
Adjusted EBITDAR reached $319.6 million, compared with $321.8 million a year earlier. Adjusted earnings fell to $121.7 million, or $1.67 per share, from $139.1 million, or $1.72 per share, in Q3 2025.
Boyd Gaming announced that lower destination demand had an impact on their operations in Las Vegas market, especially that of The Orleans. There has also been construction disruption at Suncoast, which negatively affected the Local Las Vegas segment while Downtown Las Vegas has experienced tourism slowdown, which includes decrease in Hawaiian visitors owing to recent storms and increase in airfare rates.
Despite that, the entire portfolio of Las Vegas Locals experienced revenue growth of 3% and an increase in Adjusted EBITDAR. This was aided by higher gambling activity coming from Southern Nevada residents, who engaged more actively in the gaming industry in recent months.
CEO Keith Smith stated these results indicate advantages of the diversified business model of Boyd Gaming, investments in properties, and the accumulation of clients.
Boyd’s Midwest and South segment was helped by constant activity of its customers and investments. The results of the segment went down because of Sam’s Town Tunica closing in November 2025, the sale of Sam’s Town Shreveport in August 2026, and also the increase in property tax in Kansas Star.
Without these factors, the revenue of the segment increased by about 3%, while adjusted EBITDAR increased by nearly 2.5%. The company claimed that its growth to continued gaming activity among core and retail customers.
During the fiscal quarter of report Boyd acquired back $164 million worth of its stock. The firm declared a quarterly dividend of $0.20 per share on October 15. According to Smith the total amount returned to investors in the form of buybacks and dividend payments reached $180 million.
The company is also working on casino expansion. It opened Cadence Crossing Casino in Henderson Nevada earlier this year which substituted the previous Jokers Wild Casino.
Currently Boyd is working on a $750 million hospitality development together with the Pamunkey Indian Tribe in Norfolk Virginia. The company is going to expand its Par-A-Dice Hotel Casino in Illinois and expects to start construction in 2027.
