Las Vegas resurgence helps Boyd Gaming post fifth straight quarter of growth

Casino operator Boyd Gaming posted its fifth consecutive quarter of revenue growth thanks to continued strong performance at its Atlantic City casino and a healthy rebound in its Las Vegas locals business.

For the three months ending Dec. 31, Boyd’s overall revenue increased 2.1% to $542.7m while adjusted earnings rose 13.1% to $154.2m. The company reported a net loss for the quarter of $6.9m, a significant improvement over the $32.4m loss Boyd reported in Q4 2014.

Revenue in Boyd’s Las Vegas Locals segment rose 4.8% to $158.8m, while adjusted earnings rose 10.7% to $44m. The results are the best the segment has reported since the pre-recession heyday of 2007 and the company says it expects continued progress in 2016, with both gaming and non-gaming revenue enjoying broad-based growth.

Revenue was similarly sunny in the Downtown Law Vegas segment, which improved 4.8% to $62.5m on significant increases in visitation by the segment’s loyal Hawaiian clientele. Revenue at Boyd’s Midwest and South ($201m) and Peninsula ($120.5m) segments were basically flat year-on-year.