Boyd Gaming reports uptick in online casino
US casino operator Boyd Gaming has reported stronger online casino earnings during the third quarter of 2026, despite softer trading across parts of its Las Vegas business.
The company generated total quarterly revenue of US$990.5 million, down approximately 1.4% from US$1 billion in the corresponding period last year.
However, Boyd Gaming’s online gambling operations continued to improve, with direct online gaming revenue increasing from US$26.9 million to US$33.2 million, with this representing annual growth of approximately 23.6%.
“During the quarter, our results reflected continued growth in our Midwest & South segment, increased play from southern Nevada residents, and strong gains in both our Online and Managed operations,” Boyd Gaming President and CEO Keith Smith said.
The company’s wider online division, which also includes reimbursement revenue, recorded adjusted EBITDAR of US$10.9 million, up from US$9.4 million a year earlier.
Total online segment revenue nevertheless declined from US$165.6 million to US$154.5 million, reflecting lower reimbursement revenue.
Boyd attributed the improvement in online earnings to continued strength in its online casino business.
Meanwhile, its Las Vegas operations faced weaker demand from destination visitors, particularly at the Orleans casino.
Downtown Las Vegas results were also affected by reduced visitor numbers from Hawaii, which the company linked to severe weather and higher airfares.
Trading among local Nevada customers remained comparatively resilient, with the majority of Boyd’s Las Vegas Locals properties recording revenue growth.
Smith said the company was encouraged by the performance of its regional casino operations and online business despite weaker tourism-related trading.
“And while quarterly results were impacted by increased softness in destination business to Las Vegas, primarily affecting our Orleans property, we are encouraged by the continued strength of the remainder of our Las Vegas Locals portfolio and the performance of our Midwest & South segment,” he said.
Boyd reported net income of US$124.9 million for the quarter, compared with US$1.44 billion a year earlier.
However, the 2025 figure included a substantial one-off gain from the sale of Boyd’s equity interest in FanDuel, making the headline profit comparison misleading without that context.
Adjusted EBITDAR across the group declined slightly to US$319.6 million from US$321.8 million.
Boyd Gaming is one of the largest gambling operators in the United States, with a portfolio of land-based casinos and a growing presence in the country’s regulated online gambling market.
