Boyd Gaming Enjoys a Successful 2021, Hits $3.4B in Revenue

Boyd Gaming Enjoys a Successful 2021, Hits $3.4B in Revenue

Despite the difficulties brought by the global pandemic, the leading casino operator, Boyd Gaming, announced that it has seen growth during 2021.

In 2021 Boyd Gaming Surpassed Its Pre-pandemic Revenue Results

Earlier this week, Boyd Gaming released its fourth-quarter and full-year results for 2021. Overall, the company’s revenue hit $3.4 billion during 2021. This marks a significant increase when compared to the pandemic-impacted 2020 when revenue halted at $2.2 billion. Moreover, the company has even surpassed its pre-pandemic results from 2019, when its revenue hit $3.3 billion.

For the full year of 2021, Boyd Gaming has seen a net income of $463.8 million. This marks a significant increase when compared to the full year 2020 results when the company has seen a net loss of $134.7 million. The total adjusted EBITDAR in 2021 was $1.4 billion. This marks yet another increase when compared to the $609.9 million for the full year 2020. According to the latest report, Boyd Gaming’s adjusted earnings for the full year 2021 hit $584.2 million, representing a significant improvement when compared to the adjusted loss of $17.5 million during 2020.

The Company’s Q4 2021 Results Look Good

It comes as no surprise that Boyd Gaming enjoyed a successful fourth quarter in 2021. The company revealed that its Q4 2021 revenues hit $879.8 million. This marks a staggering 34% increase when compared to the $635.9 million in revenue reported for Q4 2020. Additionally, in Q4, 2021, Boyd Gaming’s net income hit $109.8 million. That result marks another increase when compared to the $83.3 million in net income for the same period in 2020.

For the fourth quarter of 2021, the total adjusted EBITDAR hit $347.3 million, representing a 65% increase when compared to the $210.5 million for the same period a year ago. Adjusted earnings in Q4, 2021 hit $154.3 million, marking once again a significant increase when compared to the $51.9 million during Q4, 2020.

Boyd Gaming Plans to Keep the Positive Momentum in 2022

Boyd Gaming’s CEO and president, Keith Smith, outlined that the company has seen record quarterly performances across all of its operations at the end of the year. He said that Q4 2021 marks the fourth successful quarter for the company with operating margins and EBITDAR records.

“Given the ongoing strength of our business, we are expanding our program to return capital to our shareholders by reinstating our quarterly dividend.”

Keith Smith, president and CEO at Boyd Gaming

Smith added that the full-year results look great, considering that Boyd surpassed its previous EBITDAR record by more than 50%. This was further complemented by increasing companywide operating margins of more than 40%. In conclusion, Smith confirmed that in 2022, the company will continue to follow its operating strategy and focus on growth through strategic investments and global expansion.