Upgrades and renovations at Boyd Gaming Corp. Properties helped run the company to a record year financially in 2024, managers said on Thursday.
Boyds President and CEO Keith Smith told investors under the company’s revenue for the fourth quarter that Boyd Properties will hold their own against new competitors, thanks to updates that continue to attract customers.
“An example of this is Suncoast, where we opened a new sports book, high limite room and Premium Steakhouse 2024,” Smith said. “All of these new amenities have been well received by our customers, which helps to drive solid results from Suncoast in recent quarters. Next to get to Suncoast is a complete renovation of the casino floor, a new food hall and an extension of the property’s meeting space. We revealed the first episode of the Suncoast Casino renovation earlier today (Thursday) and are about to complete all real estate improvements in early 2026. “
Smith said that Las Vegas-based Boyd’s central properties continue to flourish with continued support from Hawaiian customers, one of the company’s most stable customer lines.
CFO Josh Hirsberg said that upgrades of the hotel rooms are coming next to the company’s Orleans property and the previously announced transformation of Jokers Wild in Henderson to Cadence Crossing, on the right track for completion in mid-2026.
“The nearby master planned society in Cadence is one of the fastest growing districts in Las Vegas Valley and this development will position us to take advantage of growth,” Hirsberg said. “Cadence Crossing will start as a smaller property with 450 seats and several restaurants. But as the cadence community continues to grow towards its full expansion of 12,000 homes, Cadence Crossing will grow with it with plans for a hotel, more casino space and additional amenities.
“Our initiative to upgrade our hotel rooms is planned to be complete in mid -2026,” he said. “When it comes to our recurring real estate growth investments, we expect to invest about $ 100 million each year.”
Smith previously pointed out to investors that Las Vegas Valley’s constant growth helps the company maintain its increasing profit track. He quoted local employment growth over several sectors for more than 45 months in a row, average weekly wages increased by 6 percent during the fourth quarter, surpassed the national growth rate, the increase in Södra Nevada’s population exceeded 2.3 million inhabitants and 13 percent more home construction permit in 2024 in the previous year. He also listed visits for Las Vegas up 2 percent from the previous year and record airport traffic exceeds 58 million as a reason why Boyd stays healthy.
Smith said that Boyd’s attention to keeping its properties updated is what led to record performance as the company observes its 50th anniversary of the business.
During the fourth quarter, which ended on December 31, Boyd exceeded $ 1 billion in quarterly revenue for the first time, on his way to full -year revenue of $ 3.93 billion, an increase of 5.1 percent in 2023.
For the quarter, the company reported a net profit of $ 170.5 million, $ 1.92 per share, on a $ 1.04 billion income. During the same quarter a year earlier, it reported a net profit of $ 92.6 million, $ 94 cents per share, on revenue of $ 954.4 million.
Boyd shares, traded on the New York Stock Exchange, climbed on Thursday 2.7 percent, $ 2.08, to close $ 78.57 per share in volume more than twice the daily average.
Contact Richard N. Velotta at rvelotta@ theplayerlounge.com or 702-477-3893. Follow @rickvelotta at X.
