Q2 2024 Boyd Gaming Corp Earnings Call Transcript
Key Points
- Boyd Gaming Corp (BYD) delivered a solid performance in the second quarter, with nationwide operations performing in line with expectations.
- The Las Vegas Locals segment saw sequential improvement and market share growth compared to the first quarter.
- The downtown Las Vegas segment delivered strong growth, with visitation recovering from a temporary decline in the first quarter.
- The Midwest and South segment produced steady results, with modest revenue growth and strong performance from the new Treasure Chest casino.
- The online segment achieved healthy revenue and EBITDA growth, with increased expectations for the full year due to the strong partnership with FanDuel.
- The Orleans and Gold Coast properties in the Las Vegas Locals segment continue to face competitive pressures.
- April was particularly soft for the Midwest and South segment, with business levels recovering only in May and June.
- The promotional environment around the Gold Coast and Orleans remains aggressive, impacting performance.
- The fourth quarter will face tough comparisons due to a record fourth quarter downtown last year.
- Operating expenses, including wage growth and property taxes, increased significantly in Q3 of the previous year, affecting year-over-year comparisons.
(Operator instructions) No. Ladies and gentlemen, this is the operator for today's conference is scheduled to begin momentarily. Until that time, your lines will remain on music hold. Thank you for your patience. Our book. Thank you. No, no, no, no, no. No, no, no, no, no. No, no, no, thanks. Thanks. No. Good afternoon and welcome to the Boyd Gaming Second Quarter 2024 earnings conference call.
By name is David Strauss, Vice President of Corporate Communications for Boyd Gaming. I will be the moderator for today's call, which we are hosting on. First, this time all lines are in listen only mode. Following our remarks, we will conduct a question and answer session. If at anytime during this call you require immediate assistance, please press star, then zero for the operator for our speakers.
For today's call are Keith Smith, President and Chief Executive Officer, Josh Hirsberg. Executive Vice comments will include statements that are forward looking statements within the Private
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