Boyd Gaming witnessed a marginal revenue uptick year-over-year in the recent quarter, notwithstanding a 6% decline in revenue stemming from its gaming segment.
The firm posted total revenue of $894.5 million for the quarter, a 0.1% rise from the $893.6 million earned in the corresponding period last year.
Although gaming persisted as the company’s principal revenue generator, bringing in nearly $685 million and constituting over 75% of total revenue, this figure signifies a decrease exceeding $40 million in comparison to the second quarter of 2021.
Despite this contraction, Boyd’s President and CEO, Keith Smith, highlighted that the company’s performance remained robust, falling just short of the previous year’s unprecedented achievements. He conceded that the second quarter of 2021 set a high bar, given the exceptional factors of government stimulus initiatives and the easing of COVID-19 limitations, which had fueled exceptionally strong outcomes.
Thus, he described the firm’s latest second-quarter earnings as “robust,” stating: “We possess positive traction, with key client interaction increasing both annually and relative to the initial quarter of ’22.
“Despite inflationary strains, we enhanced our total operational profitability versus the preceding quarter.
“In general, we are optimistic about the ongoing vigor of the enterprise and assured in our approach and capacity to manage the present unpredictable financial climate.”
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