Boyd Gaming has announced that it has been able to carry its growth momentum from 2015 into the opening quarter of this year, with company recording year-on-year growth across its key finances.
Net revenue for the three months to March 31, 2016, came in at $552.4 million (€484.2 million), which represents a slight increase on the $550.6 million posted in the corresponding period last year.
Adjusted earnings before interest, tax, deprecation and amortisation (EBITDA) also grew 7.5% year-on-year from $149.2 million to $160.4 million, with Boyd also revealing that operating income expanded from $83.6 million to $101.1 million.
However, net income was slightly down from $35.1 million to $33.2 million, with basic and diluted income per common share falling from $0.31 to $0.29.
Keith Smith, president and chief executive of Boyd, said: “Our company continues to perform at a high level and deliver strong results, as the positive trends we saw in 2015 carried into the first quarter of 2016.
“Thanks to a strengthening southern Nevada economy, growth accelerated throughout our Las Vegas Locals business, which achieved its best year-over-year revenue comparisons in more than a decade.
“Recent investments across our portfolio delivered strong returns, driving increases in both visitation and revenues.
“And we used our substantial free cash flow to further deleverage our balance sheet, paying down nearly $125 million in debt during the quarter.
“In all, this was another great quarter for our company as we continued to successfully execute our strategy, and we remain optimistic about our long-term growth potential.”
Related article: Boyd Gaming targets further success after 2015 growth