Boyd Gaming Corp. Safe is moving forward with new casino buildings in Nevada and Virginia, although the projects cost more to complete due to customs increases or other external financial factors, said the company’s managers on Thursday.
Buoyed by what the company’s president and the CEO described as “the strongest balance sheet in our history,” Boyd said that the Cadence Crossing Casino project in Henderson and its $ 750 million casino projects in Norfolk, VA., Both are in schedule, as well as the Sky River Casino Expansion project in Northern Calcifor.
Josh Hirsberg, CEO and CFO of Boyd Gaming, said that the Las Vegas-based company contacted its current capital projects from a “strength”, with reference to strategic planning in terms of purchasing and development.
“We feel very comfortable with where we sit,” Hirsberg said Thursday during Boyd’s quarterly result. “At the end of the day, when we got through (), quite frankly, we felt very comfortable with the risk in relation to our existing budgets. We do not know (with) what we know today that one of our budgets would need to change.”
Boyd broke Mark earlier this month at Cadence Crossing, a 50,000 square meter casino was built at the site of the former Jokers wild casino in Henderson. It is Boyd’s first new casino development in 20 years.
The company announced comparable financial results from year to year for the first quarter of 2025, driven by growth in its digital, central Las Vegas and Midwest/South market segment. Boyd’s local population market decreased about 4 percent compared to 2024, but the company attributed to it to challenges such as Orleans Hotel casino, mainly road construction and nearby competition.
Keith Smith, Boyds President and CEO, said “playing from our core customers continued to grow on a business basis during the first quarter.” Smith said that the company’s central Las Vegas casinos were helped by an increase in Hawaiian visit during the quarter.
Boyd reported $ 222.8 million in revenue from Las Vegas locals and $ 57.3 million from its central properties. In all markets, including digital, Boyd reported $ 991.6 million in quarterly revenue.
Boyd’s first quarterly adjusted EBITDA (revenue before interest, taxes, depreciation and amortization) was $ 309.4 million, up from $ 303.3 million last year.
“Our revenues and Ebitds (revenue before interest, taxes, depreciation, amortization and restructuring) growth during the first quarter reflected the strength of our diversified operations, the elasticity of our customer base and the appeal of our properties,” said Smith.
Contact David Danzis at ddanzis@ theplayerlounge.com or 702-383-0378. Follow @AC2vegas-danzis.bsky.social or @AC2vegas_danzis on X.
