BYD Facts

BYD Overview

April 2017 - NYSE: BYD

At A Glance (as of 5/5/2017)


Price (5/5/2017)


52-Week Range

$16.77 - $24.65

Three-Month Avg. Daily Volume


Shares Outstanding

115.9 million

Dividend (Yield)

0.05 (0.89%)

Ex-Dividend Date

June 15, 2017



Boyd Gaming Corporation is one of the most experienced and well-respected companies in the gaming industry, with 24 casino entertainment properties in seven states.  Founded in 1975 by Executive Chairman Bill Boyd, our Company has a long and successful track record in both major and regional gaming markets.  Our portfolio spans the nation, from the gaming mecca Las Vegas to markets across the Midwest and South, including operations near Chicago, New Orleans, Biloxi, Memphis, Shreveport, Louisiana, and Wichita, Kansas.


With 24 properties in 14 distinct markets, Boyd Gaming is one of the largest, most geographically diversified companies in the gaming industry.

 Our strategy is centered on catering to targeted customer groups by offering them high-quality entertainment experiences, at an attractive value, in environments that emphasize comfort and memorable customer service.

Our Las Vegas Locals and Midwest & South properties cater primarily to local residents living within close proximity to our properties, though tourists do account for a significant amount of business at several of our locally-oriented properties, including the Gold Coast and The Orleans, both located just west of the Las Vegas Strip. Our three Downtown Las Vegas properties – California, Fremont and Main Street Station – cater to a loyal customer base from Hawaii.


Since our founding more than 40 years ago, Boyd Gaming has made tremendous progress as a Company.  Our consistent focus on innovation and growth has helped us become one of the largest and most successful companies in the domestic gaming industry.

To ensure a future that is as bright as our past, Boyd Gaming is diligently executing a multi-faceted, balanced strategy to continue increasing long-term value for our shareholders.

We are strengthening our operations. We have implemented an operating structure that positions us for future success. With substantial operating leverage in our business, we are achieving significant flow-through as revenue grows.

We are investing in future growth. We are seeing encouraging results from our multi-year, $100 million campaign to enhance and elevate our hotel rooms, bars and restaurants, as we seek to ensure our properties remain relevant and compelling to customers of every generation. 

And we are making targeted investments to expand our portfolio.  With our recent acquisitions of Aliante Hotel Casino and Spa and Cannery Casino Hotel in North Las Vegas, as well as Eastside Cannery Casino and Hotel on Boulder Strip, we are expanding our footprint in the Las Vegas Valley, one of the fastest-growing gaming markets in the United States.

We are improving our financial position. We continue to use free cash flow to pay down debt and strengthen our balance sheet, and are solidly on track to achieve our long-term leverage target of 4 to 5 times EBITDA in 2018. 

And we are returning capital to shareholders.  In May, our Board of Directors authorized the reinstatement of our cash dividend program, declaring an initial quarterly cash dividend payment of $0.05 per share (payable July 15, 2017, to shareholders of record as of June 15, 2017.)  At the same time, our Board reaffirmed our existing share repurchase program, with $92 million still remaining as of May.

We are making good progress. And we will remain squarely focused on our most important goal – building long-term value for our shareholders.

Statements which are not historical facts are “forward-looking” statements and “safe harbor statements” under the Private Securities Litigation Reform Act of 1995 that involve risks and/or uncertainties, including risks and/or uncertainties as described in the Company’s public filings with the Securities and Exchange Commission.

Josh Hirsberg
Executive Vice President and Chief Financial Officer

David Strow
Vice President of Corporate Communications




  2016* 2015*
Net Revenue $2,183,976 $2,199,432
Adjusted EBITDA (1) $535,330 $527,391
Adjusted Earnings (2) $104,582 $49,370
Adjusted EPS (2) $0.91 $0.43

*Amounts shown in thousands of dollars.

(1) Adjusted EBITDA reflects EBITDA adjusted for deferred rent, share-based compensation expense, project development, preopening and write-down expenses, impairments of assets, loss on early extinguishments and modifications of debt and other operating items, net.

(2) Adjusted Earnings is net income (or loss) before project development, preopening and write-down expenses, impairments of assets, other items, net, gain or loss on early extinguishments and modifications of debt, other non-recurring adjustments, net, and income from discontinued operations, net of tax.



Aliante Casino Hotel and Spa

Cannery Casino Hotel

Eastside Cannery Casino and Hotel

Gold Coast Hotel and Casino

The Orleans Hotel and Casino

Sam’s Town Las Vegas

Suncoast Hotel and Casino

Eldorado Casino

Jokers Wild Casino


California Hotel and Casino

Fremont Hotel and Casino

Main Street Station Casino Brewery and Hotel


Amelia Belle Casino, Louisiana

Blue Chip Casino Hotel and Spa, Indiana

Delta Downs Racetrack Casino and Hotel, Louisiana

Diamond Jo Dubuque, Iowa

Diamond Jo Worth, Iowa

Evangeline Downs, Louisiana

IP Casino Resort Spa, Mississippi

Kansas Star Casino, Hotel and Event Center, Kansas

Par-A-Dice Hotel Casino, Illinois

Sam’s Town Shreveport, Louisiana

Sam’s Town Tunica, Mississippi

Treasure Chest Casino, Louisiana