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Note 9 - Segment Information (Tables) | 3 Months Ended
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Mar. 31, 2025
Notes Tables |
Reconciliation of Revenue from Segments to Consolidated [Table Text Block] |
|  | Three Months Ended March 31, 2025 |
|  |  |  |  |  | Food & |  |  |  |  |  |  |  |  |  |  | Management |  |  |  |  |  |  |  |  |
|  | Gaming |  |  | Beverage |  |  | Room |  |  | Online |  |  | Fee |  |  | Other |  |  | Total |
(In thousands) |  | Revenue |  |  | Revenue |  |  | Revenue |  |  | Revenue |  |  | Revenue |  |  | Revenue |  |  | Revenue |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Las Vegas Locals |  | $ | 160,740 |  |  | $ | 22,767 |  |  | $ | 23,203 |  |  | $ | — |  |  | $ | — |  |  | $ | 16,089 |  |  | $ | 222,799 |
Downtown Las Vegas |  |  | 36,590 |  |  |  | 10,878 |  |  |  | 6,873 |  |  |  | — |  |  |  | — |  |  |  | 2,946 |  |  |  | 57,287 |
Midwest & South |  |  | 430,176 |  |  |  | 40,513 |  |  |  | 17,312 |  |  |  | — |  |  |  | — |  |  |  | 16,586 |  |  |  | 504,587 |
Online |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 169,573 |  |  |  | — |  |  |  | — |  |  |  | 169,573 |
Managed & Other |  |  | 11,187 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 25,146 |  |  |  | 986 |  |  |  | 37,319 |
Total Revenues |  | $ | 638,693 |  |  | $ | 74,158 |  |  | $ | 47,388 |  |  | $ | 169,573 |  |  | $ | 25,146 |  |  | $ | 36,607 |  |  | $ | 991,565 |
|  | Three Months Ended March 31, 2024 |
|  |  |  |  |  | Food & |  |  |  |  |  |  |  |  |  |  | Management |  |  |  |  |  |  |  |  |
|  | Gaming |  |  | Beverage |  |  | Room |  |  | Online |  |  | Fee |  |  | Other |  |  | Total |
(In thousands) |  | Revenue |  |  | Revenue |  |  | Revenue |  |  | Revenue |  |  | Revenue |  |  | Revenue |  |  | Revenue |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Las Vegas Locals |  | $ | 161,456 |  |  | $ | 22,422 |  |  | $ | 25,756 |  |  | $ | — |  |  | $ | — |  |  | $ | 15,988 |  |  | $ | 225,622 |
Downtown Las Vegas |  |  | 33,721 |  |  |  | 10,415 |  |  |  | 6,568 |  |  |  | — |  |  |  | — |  |  |  | 2,827 |  |  |  | 53,531 |
Midwest & South |  |  | 428,241 |  |  |  | 39,802 |  |  |  | 16,623 |  |  |  | — |  |  |  | — |  |  |  | 16,100 |  |  |  | 500,766 |
Online |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 146,170 |  |  |  | — |  |  |  | — |  |  |  | 146,170 |
Managed & Other |  |  | 10,713 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 22,245 |  |  |  | 1,474 |  |  |  | 34,432 |
Total Revenues |  | $ | 634,131 |  |  | $ | 72,639 |  |  | $ | 48,947 |  |  | $ | 146,170 |  |  | $ | 22,245 |  |  | $ | 36,389 |  |  | $ | 960,521 |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block] |
|  | Three Months Ended |
|  | March 31, |
(In thousands) |  | 2025 |  |  | 2024 |
Adjusted EBITDAR |  |  |  |  |  |  |  |
Las Vegas Locals |  | $ | 106,547 |  |  | $ | 110,438 |
Downtown Las Vegas |  |  | 20,923 |  |  |  | 17,815 |
Midwest & South |  |  | 183,222 |  |  |  | 180,994 |
Online |  |  | 23,306 |  |  |  | 20,476 |
Managed & Other |  |  | 27,319 |  |  |  | 24,781 |
Corporate expense |  |  | (23,800 | ) |  |  | (24,018 | )
Adjusted EBITDAR |  |  | 337,517 |  |  |  | 330,486 |
Other operating costs and expenses |  |  |  |  |  |  |  |
Deferred rent |  |  | 147 |  |  |  | 161 |
Master lease rent expense |  |  | 28,160 |  |  |  | 27,235 |
Depreciation and amortization |  |  | 68,223 |  |  |  | 62,913 |
Share-based compensation expense |  |  | 7,605 |  |  |  | 6,860 |
Project development, preopening and writedowns |  |  | (1,522 | ) |  |  | 3,021 |
Impairment of assets |  |  | 32,272 |  |  |  | 10,500 |
Other operating items, net |  |  | 2,745 |  |  |  | 411 |
Total other operating costs and expenses |  |  | 137,630 |  |  |  | 111,101 |
Operating income |  |  | 199,887 |  |  |  | 219,385 |
Other expense (income) |  |  |  |  |  |  |  |
Interest income |  |  | (808 | ) |  |  | (446 | )
Interest expense, net of amounts capitalized |  |  | 48,437 |  |  |  | 42,309 |
Other, net |  |  | 107 |  |  |  | 50 |
Total other expense, net |  |  | 47,736 |  |  |  | 41,913 |
Income before income taxes |  |  | 152,151 |  |  |  | 177,472 |
Income tax provision |  |  | (41,269 | ) |  |  | (40,999 | )
Net income |  |  | 110,882 |  |  |  | 136,473 |
Net income attributable to noncontrolling interest |  |  | 537 |  |  |  | — |
Net income attributable to Boyd Gaming |  | $ | 111,419 |  |  | $ | 136,473 |
Reconciliation of Revenue and Expenses from Segments to Consolidated [Table Text Block] |
|  | Las Vegas |  |  | Downtown |  |  | Midwest & |  |  |  |  |  |  | Managed & |  |  |  |  |
(In thousands) |  | Locals |  |  | Las Vegas |  |  | South |  |  | Online |  |  | Other |  |  | Total |
Three Months Ended March 31, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 222,799 |  |  | $ | 57,287 |  |  | $ | 504,587 |  |  | $ | 169,573 |  |  | $ | 37,319 |  |  | $ | 991,565 |
Other segment expenses (1) |  |  | 116,252 |  |  |  | 36,364 |  |  |  | 321,365 |  |  |  | 146,267 |  |  |  | 10,000 |  |  |  | 630,248 |
Corporate expense |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 23,800 |
Adjusted EBITDAR |  | $ | 106,547 |  |  | $ | 20,923 |  |  | $ | 183,222 |  |  | $ | 23,306 |  |  | $ | 27,319 |  |  | $ | 337,517 |
Three Months Ended March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 225,622 |  |  | $ | 53,531 |  |  | $ | 500,766 |  |  | $ | 146,170 |  |  | $ | 34,432 |  |  | $ | 960,521 |
Other segment expenses (1) |  |  | 115,184 |  |  |  | 35,716 |  |  |  | 319,772 |  |  |  | 125,694 |  |  |  | 9,651 |  |  |  | 606,017 |
Corporate expense |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 24,018 |
Adjusted EBITDAR |  | $ | 110,438 |  |  | $ | 17,815 |  |  | $ | 180,994 |  |  | $ | 20,476 |  |  | $ | 24,781 |  |  | $ | 330,486 |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] |
|  | March 31, |  |  | December 31, |
(In thousands) |  | 2025 |  |  | 2024 |
Assets |  |  |  |  |  |  |  |
Las Vegas Locals |  | $ | 1,603,655 |  |  | $ | 1,623,935 |
Downtown Las Vegas |  |  | 286,545 |  |  |  | 292,765 |
Midwest & South |  |  | 3,843,836 |  |  |  | 3,855,386 |
Online |  |  | 178,814 |  |  |  | 185,567 |
Managed & Other |  |  | 115,890 |  |  |  | 115,839 |
Corporate |  |  | 440,270 |  |  |  | 318,323 |
Total Assets |  | $ | 6,469,010 |  |  | $ | 6,391,815 |

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