Boyd Gaming reported revenue of $990.5 million for the third quarter ended September 30, slightly below the $1 billion it recorded in the same period of 2025.
Net income came to $124.9 million, or $1.71 per share. A year earlier, the company posted $1.4 billion, or $17.81 per share. That figure was lifted by a $1.4 billion after-tax gain on the sale of Boyd’s equity stake in FanDuel. The 2025 quarter also carried $65.1m in pretax impairment charges on long-lived assets, and neither item recurred this year.
Adjusted EBITDAR also saw a decrease, reaching $319.6 million from $321.8 million.
What held back the quarter was weaker destination business in Las Vegas, mostly at the Orleans. The operator grew in its Midwest and South segment and saw more play from southern Nevada residents. Its Online and Managed businesses also recorded a strong increase.
Boyd returned close to $180 million to shareholders during the quarter through share buybacks and dividends, and CEO Kevin Smith said the company is well positioned to continue creating long-term value for our shareholders.
