Boyd Gaming saw revenues reach a massive $1 billion in its third-quarter of the year, with the FanDuel stake sale boosting earnings.
In the third quarter of 2024, the revenues sat at $961.2 million. As for the net income, the third quarter period of this year saw a reported net income of $1.4 billion which equates to $17.81 per share. In 2024, for the same period, the company reported $131.1 million in net income.
In its third quarter results, the company says its net income was impacted by a $1.4 billion after tax gain from the sale of the company’s equity interest in FanDuel, and $65.1 million in non-cash, pretax long-lived asset impairment charges.
In the summer, it was confirmed that Boyd Gaming had completed its agreement to sell its 5% equity share in FanDuel to Flutter. The transaction means that Flutter now has full ownership of the US sports betting brand.
The company still owns 28 gaming properties across ten states.
Boyd Gaming sale of FanDuel holding took place this summer ahead of Q3
The company president and CEO, Keith Smith, explained the figures: “During the third quarter, our Company continued to achieve revenue and Adjusted EBITDAR growth after adjusting for our recent FanDuel transaction.
“These results were driven by year-over-year growth in play from our core customers, improving trends in play from our retail customers, our efficient operations, and our ongoing capital investment program.
“As a result, we saw healthy growth in gaming revenues across all three property operating segments during the quarter. At the same time, we continued our balanced approach to capital allocation, returning $175 million to shareholders during the quarter while maintaining the strongest balance sheet in our Company’s history.
“In all, we are encouraged by the strength of our business and remain well-positioned to continue creating long-term value for our shareholders.”
Boyd Gaming’s adjusted earnings for the third quarter of 2025 were $139.1 million, compared to $139.3 million for the same period in 2024. “Total Adjusted EBITDAR was $321.8 million in the third quarter of 2025, versus $336.6 million in the third quarter of 2024. Results for the third quarter of 2025 reflect lower market-access fees as a result of the FanDuel transaction,” the report states.
Featured Image: Via ‘Boyd Gaming Corporation’ on Facebook
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