The Short Take:
- Total company-wide revenue at Boyd Gaming totaled $612 million for the third quarter of 2018, representing a 3.5% year-over-year increase
- Gaming revenue increased 4.2% from the same quarter in 2017, coming in at $446.7 million
- Food and Beverage was the second largest revenue segment with revenue of $86 million, but produced an annual growth rate of only 1.2%
In the third quarter of 2018, the total revenue reported by Boyd Gaming (BYD) came in at $612,196,000. This was an increase of 3.5% from the same quarter of 2017. We’ll be digging a little deeper into the company’s revenue segments to see where that growth came from.
Boyd reports its revenue in four operating segments: Gaming, Food and Beverage, Room and Other. Not surprisingly, the Gaming segment is the largest, with over $446 million in revenue during the third quarter. The Rooms segment came in second at just more than $86 million. Rounding out the segments, Food and Beverages brought in almost $48 million and the Other category totaled a bit north of $31 million.
Here’s a look at the Boyd’s four operating segments:
In terms of the overall contribution to the company’s total revenue, the Gaming segment accounts for a whopping 73.0% of the total revenue. Food and Beverage is the second largest contributor at 14.0%. Surprisingly, the company’s hotel revenue is just a bit more than half of the revenue from food and drinks; the Rooms segment only makes up 7.8% of the total revenue. Finally, the Other category came in at 5.1% of total revenue.
Here’s a breakdown of each revenue segment’s contribution to total revenue:
As we mentioned earlier, the total revenue for the entire company grew year-over-year by 3.5%. The main driver of this growth was a $17.9 million increase in the Gaming segment, or a 4.2% increase from the third quarter of 2017. The Other segment increased by 4.5%, the largest percentage increase, or $1.35 million. Food and Beverage saw over a million in additional sales from last year while the Room segment brought in an additional $384 thousand which represented a growth rate of just 0.8%.
Here’s a rundown of the year-over-year increases in the BYD revenue segments in percentage terms:
Yearning for more great stats and deep insights into the casino industry? Then bookmark us here at Ante Research and check back every day!