Boyd Gaming's third-quarter revenue edged lower as weaker destination travel to Las Vegas offset growth elsewhere in the portfolio. The operator generated $990.5 million in the three months to September 30, down from $1.004 billion a year earlier, according to its official results release.
Adjusted EBITDAR declined to $319.6 million from $321.8 million. Adjusted earnings were $121.7 million, or $1.67 per share, compared with $139.1 million, or $1.72 per share, in the 2025 quarter. These are company-defined non-GAAP measures.
Chief executive Keith Smith said softer destination business was most visible at The Orleans. Downtown Las Vegas was also affected by lower Hawaiian visitation following major storms and by higher airfares. Construction work disrupted Suncoast, but Boyd said the rest of its Las Vegas Locals properties increased revenue and adjusted EBITDAR by 3%.
The regional, online and managed businesses provided some balance. After adjusting for property changes and higher taxes, Midwest and South revenue rose nearly 3%, while online adjusted EBITDAR grew at a double-digit pace. A CDC Gaming account also highlighted the travel slowdown as the main drag on the quarter.
