Boyd Gaming, a leading gambling operator, has released its financial results for the fourth quarter and full year ended December 31, 2023, showing significant revenue growth. The unaudited report, released on Thursday, revealed total revenues of $954.4 million for the fourth quarter of 2023, marking a 3% increase from the same period in 2022.

Net income for the fourth quarter was reported at $92.6 million, amounting to $0.94 per share, a slight decrease from the previous year. The company also reported adjusted EBITDAR of $355.5 million and adjusted earnings of $163.8 million for the same period.

Boyd Gaming attributed the majority of its revenue in the fourth quarter to its gaming and online segments, with gaming revenue reaching $647.1 million and online revenue increasing to $124.1 million. The company highlighted the positive impact of introducing sports betting in Ohio in January 2023 on its online segment revenue.

Additionally, Boyd Gaming reported food and beverage revenue of $75.5 million, room revenue of $50.6 million, and management fees and other revenues totaling $56 million for the fourth quarter.

For the full year of 2023, Boyd Gaming reported total revenue of $3.74 billion, a significant increase from the previous year. Gaming revenue accounted for $2.61 billion of the total, while online revenue saw a substantial increase to $422.2 million.

Keith Smith, president and CEO of Boyd Gaming, expressed his satisfaction with the company’s performance in the fourth quarter, attributing it to the diversification of the company’s portfolio and efficient management. He also emphasized the achievement of property-level operating margins above 40% for both the fourth quarter and full year, and predicted further global growth for Boyd Gaming, creating long-term shareholder value.

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