Boyd Gaming Corporation reported first-quarter 2025 revenues of $991.6 million, an increase from $960.5 million in the first quarter of 2024. The company's net income for the quarter was $111.4 million, or $1.31 per share, compared to $136.5 million, or $1.40 per share, in the prior-year period.
Adjusted Earnings for the first quarter of 2025 were $137.7 million, or $1.62 per share, surpassing the $147.3 million, or $1.51 per share, reported in the same period in 2024. Total Adjusted EBITDAR increased to $337.5 million from $330.5 million year-over-year, demonstrating growth despite severe weather impacts in the Midwest & South segment.
The Online segment delivered strong revenue and Adjusted EBITDAR growth, while the Downtown Las Vegas and Midwest & South segments also reported gains. The company maintained property operating margins of 40% and repurchased $328 million in shares during the quarter, reinforcing its commitment to shareholder value.
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