SBC News Vegas portfolio gains see Boyd Gaming confident of hitting 2017 targets

Vegas portfolio gains see Boyd Gaming confident of hitting 2017 targets

New York-listed US Casino group Boyd Gaming Plc (Boyd) is confident of hitting its 2017 full-year corporate targets and expectations, following its best ‘quarter results’ in nearly ten years.

Updating investors of Q2 2017 results (period ending 30 June), Boyd reported a 10% uplift in group new revenues to $599 million (Q2 2016: $544 million).

Driven by enterprise growth across its ‘Las Vegas Local’ and ‘Las Vegas Downtown’ assets, Boyd governance would disclose a period adjusted EBITDA of $151 million up 9% on corresponding 2016’s $137 million.

Closing its Q2 2017 performance, Boyd Gaming governance was able to declare combined group adjusted earnings of $18.1 million. Moving forward the company states that it is confident of hitting its corporate guidance of $580-605 million EBITDA range.

A pleased Keith Smith, President and Chief Executive Officer of Boyd Gaming, commented on corporate Q2 2017 performance:

“Strong performances continued throughout our operations during the second quarter, reinforcing our confidence in the long-term direction of our Company.  Our Las Vegas Locals business achieved its best second-quarter results in nearly 10 years, driven by ongoing improvements to our operations and a strong regional economy. “

“ Our three newly acquired Nevada properties delivered another great quarter as well, as we continued to successfully execute on growth and synergy opportunities.  And despite softness in a few Louisiana markets, Adjusted EBITDA grew at a majority of our regional properties, including strong results throughout the upper Midwest.”

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