Boyd Gaming reports big first quarter

Gamblers play video poker in a Las Vegas casino
Las Vegas casino floor Photo credit Ethan Miller/Getty Images

Las Vegas, NV (KXNT) - Boyd Gaming Corporation reported financial results for the first quarter ended March 31, 2021 on Tuesday.

Boyd reported first-quarter 2021 revenues of $753.3 million, up from $680.5 million in the first quarter of 2020, a quarter that ended with all properties ordered closed due to the coronavirus pandemic.

Boyd reported net income of $102.2 million, or $0.90 per share, for the first quarter of 2021, compared to a net loss of $147.6 million, or $1.30 per share, for the year-ago period.

Keith Smith, President and Chief Executive Officer of Boyd Gaming, said: "This was an exceptional quarter for our Company, as we achieved the strongest EBITDAR (Earnings before interest, taxes, depreciation, and amortization) and margin performances in our history.  As economic conditions improve and COVID vaccinations continue to roll out, we are seeing increased visitation and growing spend-per-visit across every customer segment… Our strong performance in the first quarter reflects our more focused operating strategy, and the dedication and hard work of every Boyd Gaming team member."

Results for the first quarter of 2020 were impacted by state-mandated closures of all of the Company's properties nationwide during the last several weeks of March 2020.