Boyd Gaming targets further success after 2015 growth

Keith Smith, president and chief executive of Boyd Gaming has said the company will use year-on-year revenue growth in 2015 as a catalyst to achieve further success in the coming year.

Pro Forma net revenue last year amounted to $2.2 billion (€2 billion), an increase of 2.7% on the $2.1 billion posted in the previous year.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) was up 15.4% to $629.5 million, compared to $545.3 million last year, while reported net income improved from a net loss of $53 million last year to a plus of $47.2 million in the past 12 months.

Boyd Gaming also noted that adjusted earnings for the year increased from just $1.3 million in 2014 to $89.7 million, which corresponded to $0.79 per share.

The full-year results come after a positive showing during the fourth quarter, with revenue in the three-month period up 2.1% year-on-year to $531.6 million and adjusted EBITDA increasing by more than 13% to $154.2 million.

“Our operating teams continued to drive profitable revenue growth, identify additional efficiencies in our business, and successfully leverage new amenities, all of which contributed to our fifth consecutive quarter of revenue and double-digit adjusted EBITDA growth,” Smith said.

“We were particularly encouraged by the performance of our Las Vegas Locals business, as a strengthening economy and effective marketing programmes resulted in the segment's strongest fourth-quarter results since 2007.

“After a strong performance in 2015, we are well-positioned for continued growth and success this year.”

Related article: Boyd maintains ‘positive momentum’ in Q3