Boyd Gaming Corporation reported second-quarter 2025 revenues of $1.0 billion, an increase from $967.5 million in the second quarter of 2024. The company's net income for the quarter was $150.4 million, or $1.84 per share, compared to $139.8 million, or $1.47 per share, in the prior-year period.
Adjusted Earnings for the second quarter of 2025 were $154.2 million, or $1.87 per share, surpassing the $150.0 million, or $1.58 per share, reported in the same period in 2024. Total Adjusted EBITDAR increased to $357.9 million from $344.2 million year-over-year, reflecting broad-based growth across operating segments.
The Las Vegas Locals segment achieved its strongest quarterly growth in over two years with margins near 50%, while the Midwest & South segment continued its revenue and EBITDAR growth. The company repurchased $105 million in shares during the quarter, and on July 17, 2025, the Board authorized an additional $500 million for share repurchases, bringing the total remaining authorization to approximately $707 million as of June 30, 2025.
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