Boyd Gaming down in its third quarter due to fall in visitation to Orleans Casino

Boyd Gaming reported third-quarter 2026 revenue of $990.5m, down from $1bn a year earlier. It attributed the decline to softer Las Vegas destination business, primarily affecting gaming volumes at the Orleans. CEO Keith Smith said results still reflected Midwest & South growth, increased play from southern Nevada residents and gains in Online and Managed operations.

Midwest & South results were affected by the November 2025 closure of Sam’s Town Tunica, the August 2026 sale of Sam’s Town Shreveport and higher Kansas Star property taxes. Adjusting for those items, revenue rose nearly 3% and Adjusted EBITDAR about 2.5%. Las Vegas Locals faced Suncoast construction disruption, but remaining properties posted 3% revenue and Adjusted EBITDAR growth, with gaming revenue up 3.5%.

Downtown Las Vegas was hurt by softer destination business, lower Hawaiian visitation after major storms and higher airfares. Online posted double-digit Adjusted EBITDAR growth, and Managed & Other rose on higher Sky River management fees after expansion. Boyd returned nearly $180 million to shareholders through repurchases and dividends in the quarter.