Boyd Gaming benefits from diversified model, posts strong Q3 results

• Boyd Gaming posted its third quarter financial results, covering the three months ended September 30, 2026
• The company posted $990.5m in total revenue, slightly below the Q3 2025 result
• Keith Smith, Boyd Gaming's President and CEO, speaks about the latest figures

Boyd Gaming Corporation, the American gaming and hospitality company headquartered in Paradise, Nevada, continues to benefit from its diversified business model, despite recording a dipin third quarter revenue.

This week, the company released its unaudited financial results, uncovering details regarding its performance during the quarter ended September 30, 2026.

Revenue in Q3 decreased marginally

In total, Boyd Gaming posted $990.5m in revenue in Q3 2026, a figure that signals a year-over-year decrease of less than 2%, when compared to the $1.0bn reported during the same period in 2025.

A breakdown of the total shows that gaming revenue was on par-year-over year at $655m, considering that in Q3 2025, gaming revenue was $657.4m.

Similarly, food and beverage, as well as room revenues reported by Boyd Gaming in Q3 this year were on par year-over-year at $73.7m and $43.1m.

Notably, for the quarter ended September 30, 2026, the company recorded an uptick in online revenues, which soared year-over-year by more than 23% to $33.2m.

Online reimbursements reported by Boyd Gaming decreased year-over-year in Q3 to $121.2m, while the company also posted $27.6m in management fee revenues.

"As part of its ongoing share repurchase program, the Company repurchased $164m in shares of its common stock during the third quarter of 2026. The Company had $387m remaining under its current share repurchase authorization as of September 30, 2026," a press release by Boyd Gaming reveals.

As of the end of last month, the company reported a total debt of $2.7bn and $297.2m cash on hand.

Boyd Gaming continues to benefit from its diversified business model

Keith Smith, Boyd Gaming's President and CEO, discussed the latest financial results.

"Our third-quarter performance continued to highlight the benefits of our diversified business model, the ongoing strength of our core customer and the appeal of our property investments nationwide," he explained.

Moreover, Smith pointed out: "During the quarter, our results reflected continued growth in our Midwest and South segment, increased play from southern Nevada residents, and strong gains in both our Online and Managed operations."

Last but not least, the executive acknowledged that the company maintained a balanced approach to capital allocation in Q3 while continuing to invest in its portfolio and returning close to $180m to shareholders.

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