Revenue Audit Clerk

What Boyd Gaming (BYD) said on its Q3 earnings call. Boyd Gaming (NYSE:BYD) said its third-quarter performance reflected continued strength among core customers, growth in its Midwest and South operations, and double-digit gains from its online business, though reported company-wide revenue and EBITDA each declined about 1% amid property sales, closures and softer destination travel to Las Vegas. President and Chief Executive Officer Keith Smith said reported results were affected by the prior closure of Sam's Town Tunica, the August sale of Sam's Town Shreveport, higher property taxes at Kansas Star and lower tax pass-through amounts. Excluding those items, Smith said revenue increased 2% and EBITDA rose 1% from the prior-year period. Midwest and South segment posts growth. In the Midwest and South segment, adjusted revenue rose nearly 3%, gaming revenue increased more than 2%, and EBITDA grew nearly $5 million, or about 2.5%, Smith said. The company attributed the results to continued play from core and retail customers, including growth in unrated play. Adjusted operating margins in the segment were 38%, consistent with third-quarter levels in recent years. Smith said Boyd has continued to invest across the portfolio through gaming-floor enhancements, new food and beverage offerings, hotel-room renovations and growth projects. Chief Financial Officer Josh Hirsberg said the company expects the Midwest and South business to maintain growth levels similar to those seen in 2026 as it enters 2027, based on customer trends and the performance of its investments. Las Vegas locals growth offset by destination softness. Boyd said its Las Vegas Locals segment was affected by softer destination business, particularly at The Orleans, as well as renovation-related disruption at Suncoast. Excluding those two properties, revenue and EBITDA in the Las Vegas Locals portfolio each grew 3%, while gaming revenue rose 3.5%. Hirsberg said margins excluding The Orleans and Suncoast were 47% in the third quarter, matching the same period in each of the prior two years. Management said it remains comfortable with the potential for roughly 50% margins in the segment as Suncoast work is completed and hotel rooms return to service. Smith said destination weakness intensified during the third quarter, particularly in August, though September improved from August. Management does not expect destination trends in the fourth quarter to remain as weak as they were during the third quarter, but it did not project a return to flat or positive destination-business growth. The company completed renovations of Suncoast's public spaces by the end of the quarter and began remodeling its hotel rooms late in the period. The hotel project is expected to finish in the first quarter of 2027. Boyd also plans a broader renovation at The Orleans, with initial work beginning in early 2027 in areas not accessible to the public. Smith described the upgrade as a needed long-term refresh for a property that is approximately 30 years old. Boyd expects hotel rooms at The Orleans to return during the fourth quarter, while Suncoast rooms will remain out of service during portions of the fourth quarter and first quarter of 2027. Hirsberg said Suncoast should begin making a more meaningful contribution in late first quarter and the second quarter. Online and managed businesses continue to expand. Smith said Boyd Interactive again delivered double-digit revenue and EBITDA growth. The third quarter was the first comparable year-over-year period following the prior-year FanDuel transaction, providing what management called a clearer comparison of online performance. Hirsberg said prior guidance for Boyd's online and Managed & Other businesses remains in place, though he directed investors toward the high end of the ranges previously provided. The Managed & Other business benefited from higher management fees at Sky River Casino in Northern California. Sky River recently added 400 slot machines and a 1,600-space multilevel parking structure. Work is continuing on a further expansion that will include a 300-room hotel, three food and beverage outlets, a spa and an entertainment and event center. Boyd expects the project to be completed in 2028. Management also said it supports properly regulated and taxed iGaming legalization, including potentially in Virginia. Smith said the company views online gaming as complementary to its broader business rather than harmful to its land-based operations. Capital spending, development pipeline and shareholder returns. Boyd invested $159 million in capital expenditures during the third quarter, bringing year-to-date spending to $456 million. Hirsberg said the company now expects approximately $650 million of capital expenditures for the full year, including: * $250 million of maintenance capital; * $75 million of incremental hotel capital tied to The Orleans hotel remodel; * $50 million of growth capital, primarily for Cadence and planning for the Par-A-Dice project; and * $275 million for the Virginia casino resort development. The company's Norfolk, Virginia, resort remains on time and on budget for a November 2027 opening, according to Smith. The project is expected to include a 65,000-square-foot casino, 200-room hotel, eight food and beverage outlets, live entertainment and an outdoor amenity deck. Boyd also expects to begin construction on its redesigned Par-A-Dice Casino project in Illinois late next year. Separately, it is designing a plan to move Amelia Belle in Louisiana to a land-based facility, with construction targeted for late 2027 pending regulatory approvals. During the third quarter, Boyd returned about $180 million to shareholders, including $164 million in share repurchases and $15 million in dividends. The company repurchased 2 million shares and ended the quarter with 71.2 million shares outstanding, down 9.4% from a year earlier. Management said it intends to target approximately $150 million in quarterly share repurchases, supplemented by dividends, and expects to return more than $680 million to shareholders this year. Boyd ended the quarter with traditional leverage of 2.2 times and lease-adjusted leverage of 2.7 times. The company said it expects to refinance its next debt maturity, due in December 2027, later this year or in the first half of 2027. About Boyd Gaming (NYSE:BYD). Boyd Gaming Corporation is a gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates casinos, hotels, restaurants, entertainment venues and related amenities under brands including Sam's Town, The Orleans, Gold Coast, Suncoast and Fremont. Boyd Gaming serves customers across several U.S. states, with a significant presence in Nevada as well as properties in the Midwest and South. Its portfolio includes destination resorts, regional casinos and racetracks offering slot machines, table games, poker, sports betting and other gaming experiences. The company also operates online gaming and sports-wagering businesses in selected markets, including through partnerships and digital platforms.

Boyd promotes new SVP operations. Rick Goldstein in taking on a new executive role within the company. October 20, 2026 Appointments Rick Goldstein, the senior vice president and general manager at Boyd Gaming, has been promoted to senior vice president of operations. The company took to LinkedIn to announce the new appointment and to congratulate Goldstein on his new role. He has been with the gaming operator since 2016, joining as assistant general manager of Kansas Star Casino. In that time, he had held several posts, including becoming vice president and general manager of the Suncoast in 2023. Taking on new roles. In his new position, Goldstein will be given oversight of the operations of Aliante and Cannery and continue to serve as General Manager of the Suncoast. Earlier this month, Boyd Gaming announced the promotion of Cassie Stratford to senior vice president and general counsel, as well as the appointment of Skylar Dice as the senior vice president and general manager of The STRAT Hotel, Casino and Tower.

Virginia casinos earn $97.6M in September revenues. Revenues nearly flat from August * Virginia's five operating casinos generated $97.5M+ in adjusted gaming revenue in September * Caesars Virginia led with about $36.15M in AGR * Virginia collected about $20.66M in taxes September gaming revenues at Virginia's three permanent casinos and its temporary casinos in Petersburg and Norfolk totaled $97.58 million, according to Virginia Lottery data released Friday. Virginia's newest permanent casino, Caesars Virginia in Danville, opened in December 2024 and reported the largest adjusted gaming revenue (wagers minus winnings) for September - about $36.15 million. Of that, nearly $25 million came from its 1,542 slots, and the remaining $11.15 million came from its 88 table games. Rivers Casino Portsmouth, which opened as Virginia's first permanent casino in January 2023, generated about $18.52 million from its 1,428 slots and about $7.37 million from its 90 table games for a total AGR of approximately $25.89 million in September. Last month, the Hard Rock Hotel & Casino Bristol reported $21.65 million in AGR, with about $17.72 million of that coming from its 1,324 slots and about $3.93 million coming from its 73 table games. The Bristol casino's temporary facility opened in July 2022, making it the first operating casino in Virginia. The permanent Hard Rock Bristol opened in November 2024. The temporary Petersburg casino reported more than $13.05 million in AGR in September, with about $9.5 million coming from 926 slots and about $3.55 million coming from 32 table games. The temporary casino opened Jan. 22. Baltimore-based The Cordish Cos. and Virginia Beach developer Bruce Smith Enterprise broke ground in March 2025 on the $1.4 billion Live! Casino & Hotel Virginia, slated to open in late 2027. The developers held a topping-out ceremony for the hotel in early October. Norfolk's temporary Interim Gaming Hall, which opened Nov. 7, 2025, reported AGR of $839,593 during September. All of that came from its 132 slots, as the temporary casino doesn't have table games. A permanent $750 million Norfolk casino resort being developed by Boyd Gaming and the Pamunkey Indian Tribe is anticipated to open in late 2027. Virginia casino revenue remained virtually unchanged from August to September, increasing by just 0.027%. Virginia law assesses a graduated tax on a casino's adjusted gaming revenue. For the month of September, tax revenue totaled roughly $20.66 million. Under Virginia law, 6% of a casino operator's AGR goes to its host locality until the operator passes $200 million in AGR for the year, at which point the host locality's tax rate rises to 7%. If an operator passes $400 million in AGR in the calendar year, that rises to 8%. For September, Danville received 7% of Caesars Virginia's AGR, amounting to $2.53 million, and Portsmouth received 7% of Rivers Casino's AGR, netting about $1.81 million in taxes. All other localities received 6% of the respective casino's AGR. For the Bristol casino, the locality tax collected on its adjusted gaming revenue - coming to about $1.3 million last month - goes to the Regional Improvement Commission, which the General Assembly established to distribute Bristol casino tax funds throughout Southwest Virginia. Norfolk received $50,375.60 from the temporary casino, while Petersburg received $783,251.03 from its temporary casino. The Interim Gaming Hall will give roughly $8,396 (1% of the monthly total) to the Virginia Indigenous People's Trust Fund, due to its ties to the Pamunkey Indian Tribe. The Problem Gambling Treatment and Support Fund receives 0.8% of total taxes - $165,330 last month. The Family and Children's Trust Fund, which funds family violence prevention and treatment programs, receives 0.2% of the monthly total, which was $41,332 in September. The remaining $13.98 million in taxes goes to the state's Gaming Proceeds Fund.