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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Total Revenue $ 1,004,361 $ 961,246 [1] $ 3,029,924 [1] $ 2,889,279 [1]
Operating costs and expenses        
Selling, general and administrative 104,005 102,391 321,916 315,709
Master lease rent expense 28,584 28,160 85,186 83,247
Maintenance and utilities 40,472 40,421 114,519 112,111
Depreciation and amortization 73,749 70,344 211,957 198,934
Corporate expense 30,622 27,614 95,938 88,254
Project development, preopening and writedowns 3,972 11,347 5,214 21,954
Impairment of assets 65,123 0 97,395 10,500
Other operating items, net 1,892 (906) 5,399 4,947
Total operating costs and expenses 864,597 741,261 2,447,903 2,222,803
Operating income 139,764 219,985 582,021 666,476
Other expense (income)        
Interest income (1,501) (392) (3,572) (1,241)
Interest expense, net of amounts capitalized 33,262 46,208 132,268 131,466
Loss on early extinguishments and modifications of debt 1,446 0 1,446 0
Other, net (1,735,479) 189 (1,735,420) 289
Total other (income) expense, net (1,702,272) 46,005 (1,605,278) 130,514
Income before income taxes 1,842,036 173,980 2,187,299 535,962
Income tax provision (403,200) (42,852) (487,227) (128,516)
Net income 1,438,836 131,128 1,700,072 407,446
Net loss attributable to noncontrolling interest 1,157 0 2,798 0
Net income attributable to Boyd Gaming $ 1,439,993 $ 131,128 $ 1,702,870 $ 407,446
Basic net income per common share (in dollars per share) $ 17.81 $ 1.43 $ 20.58 $ 4.3
Weighted average basic shares outstanding (in shares) 80,860 91,863 82,740 94,769
Diluted net income per common share (in dollars per share) $ 17.81 $ 1.43 $ 20.58 $ 4.3
Weighted average diluted shares outstanding (in shares) 80,875 91,893 82,756 94,807
Casino [Member]        
Total Revenue $ 657,371 $ 640,528 [1] $ 1,967,519 [1] $ 1,925,486 [1]
Operating costs and expenses        
Cost of revenue 259,660 252,213 765,337 749,966
Food and Beverage [Member]        
Total Revenue 75,570 72,728 [1] 227,895 [1] 222,361 [1]
Operating costs and expenses        
Cost of revenue 67,468 62,713 196,438 187,852
Occupancy [Member]        
Total Revenue 45,244 50,226 [1] 144,085 [1] 151,768 [1]
Operating costs and expenses        
Cost of revenue 19,486 19,674 57,975 57,728
Online [Member]        
Total Revenue 26,893 38,146 [1] 106,000 [1] 94,738 [1]
Operating costs and expenses        
Cost of revenue 17,784 11,953 50,392 30,595
Online Reimbusements [Member]        
Total Revenue 138,704 103,166 [1] 402,221 [1] 322,674 [1]
Operating costs and expenses        
Cost of revenue 138,704 103,166 402,221 322,674
Management Service [Member]        
Total Revenue 23,697 21,030 72,618 64,527
Product and Service, Other [Member]        
Total Revenue 36,882 35,422 [1] 109,586 [1] 107,725 [1]
Operating costs and expenses        
Cost of revenue $ 13,076 $ 12,171 $ 38,016 $ 38,332
[1] Revenues for the three and nine months ended September 30, 2024 have been recast to reflect the change made during the third quarter of 2025 to separate online reimbursements revenue from online revenue. Additionally, revenues for the first and second quarters of 2025 have been recast to reflect the separation of online reimbursements revenue from online revenue included in the nine months ended September 30, 2025.