written and last updated by
Sam Smith at
03 Feb 2023
Journalist, Editorial Department
Boyd Gaming, a major gaming company that operates land-based casinos in the United States, has reported its earnings for the fourth quarter of 2022. The company posted a net income of $172.7 million for the period, up from $109.8 million in the previous year. Adjusted EBITDAR (earnings before interest, taxes, depreciation, and amortization) rose by 4% year-over-year to $360.1 million.
The company also shared its results for the full year of 2022, revealing a 6% increase in revenue to $3.56 billion. Net income for the year reached $639.4 million, compared to $463.8 million in 2021. The total adjusted EBITDAR for 2022 was $1.39 billion, slightly up from $1.37 billion in 2021.
Boyd Gaming highlighted its Las Vegas Locals segment, which achieved record revenue and EBITDAR in the fourth quarter, driven by non-gaming operations and sustained activity from core customers.
Keith Smith, President and CEO of Boyd Gaming, stated, "The fourth quarter marked a strong finish to another record year for our company. We achieved peak revenue and EBITDAR figures for both the quarter and the year. Our operational teams remain focused on driving revenue and enhancing loyalty among our core customers. The overall growth of the company in the fourth quarter was fueled by strong performance in Nevada, commissions from Sky River, and our online business. During this time, we made progress in advancing our internet strategy, completing the acquisition of Pala Interactive, and expanding our partnership with FanDuel in sports betting. Overall, 2022 was another successful year for the company, and we remain confident in our operational model and the capabilities of our team."
Earlier, we reported that the American casino operator Boyd Gaming paid out over $30 million in jackpots in just one month.
