{"id":197,"date":"2024-06-17T20:45:20","date_gmt":"2024-06-17T17:45:20","guid":{"rendered":"https:\/\/islandreelsnodepositbonuscodes.icu\/2024\/06\/17\/boyd-gaming-posts-record-revenue-for-2023-despite-profit-dip\/"},"modified":"2024-06-20T16:59:17","modified_gmt":"2024-06-20T13:59:17","slug":"boyd-gaming-posts-record-revenue-for-2023-despite-profit-dip","status":"publish","type":"post","link":"https:\/\/islandreelsnodepositbonuscodes.icu\/2024\/06\/17\/boyd-gaming-posts-record-revenue-for-2023-despite-profit-dip\/","title":{"rendered":"Boyd Gaming Posts Record Revenue for 2023 Despite Profit Dip"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/x4tL7biCm-k\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>A prominent player in the casino entertainment sector, Boyd Gaming, recently shared its financial performance for the final quarter and the twelve months concluding on December 31st, 2023. While experiencing a setback from non-cash impairment expenses, the firm witnessed robust activity in its primary and digital operations, resulting in revenue expansion for both the quarter and the year. Nevertheless, profits experienced a decline.<\/p>\n<p>Chief Executive Officer Keith Smith emphasized the company&#8217;s achievements, remarking, &#8220;Our impressive fourth-quarter figures culminated in another record-breaking year. Our varied holdings, steady base of core patrons, and the solid yields we are realizing on recent capital deployments all fueled our growth in both the fourth quarter and the full year.&#8221;<\/p>\n<p>During the fourth quarter of 2023, Boyd Gaming&#8217;s revenue attained $954.4 million, a 3.4% rise compared to the corresponding period in 2022.<\/p>\n<p>However, net earnings for the fourth quarter of 2023 amounted to $92.6 million, equivalent to $0.94 per share. This signifies a substantial reduction of 46.4% compared to $172.7 million, or $1.63 per share, for the same timeframe in the preceding year.<\/p>\n<p>This contraction was largely attributed to a non-cash pre-tax goodwill and intangible asset impairment expense of roughly $103.3 million.<\/p>\n<p>For the entirety of 2023, Boyd Gaming declared revenue of $3.7 billion, a 3.7% surge compared to 2022. Net income for the year totaled $602 million, or $6.12 per share, contrasted with $639.4 million, or $5.87 per share, in 2022.<\/p>\n<p>Mirroring the fourth quarter, the full-year outcomes were similarly influenced by the non-cash impairment charges. <\/p>\n<p>Boyd Gaming concluded 2023 on a strong note, exhibiting consistent results across its Las Vegas gaming establishments.  Downtown venues experienced a modest revenue increase (approximately 1.4%), while properties in the Midwest and South regions rebounded favorably, each registering gains of roughly 0.28%. The corporation&#8217;s digital ventures also received a lift due to the January introduction of Ohio&#8217;s sports wagering market.<\/p>\n<p>Investors obtained a dividend payout of $0.16 per share in January 2024, and the firm repurchased a substantial $1 billion of its own equity during the final quarter of 2023. As of December 31st, 2023, Boyd possessed $3.043 billion in cash reserves and $29 billion in liabilities.<\/p>\n<p>Examining their latest financial statement, Boyd Gaming generated $9.032 billion in revenue for the third quarter of 2023, a surge of about 2.7% compared to the corresponding period in 2022.  Quarterly earnings reached $1.352 billion, or $1.34 per share. Although this reflected a slight decrease from the preceding year, it&#8217;s important to acknowledge Boyd&#8217;s substantial philanthropic donation exceeding $2 million to nearly 190 entities across 11 states in January 2024. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>A prominent player in the casino entertainment sector, Boyd Gaming, recently shared its financial performance for the final quarter and the twelve months concluding on December 31st, 2023. While experiencing a setback from non-cash impairment expenses, the firm witnessed robust activity in its primary and digital operations, resulting in revenue expansion for both the quarter [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Boyd Gaming Reports Strong Revenue Growth Despite Profit Dip<\/title>\n<meta name=\"description\" content=\"Boyd Gaming saw impressive revenue growth in Q4 and FY 2023, driven by robust performance in its core and online gaming operations. 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