Boyd Gaming’s Q3 revenue decreases 1.4% to $990m, Las Vegas Locals sector falls 1.6%

Boyd Gaming has reported its financial results for the third quarter of 2026, with the operator’s total revenue having decreased 1.4% to $990m, while adjusted EBITDA fell 0.9% year-over-year to $290.6m. 

“During the quarter, our results reflected continued growth in our Midwest & South segment, increased play from southern Nevada residents and strong gains in both our Online and Managed operations,” Boyd Gaming President and CEO Keith Smith said. 

“And while quarterly results were impacted by increased softness in destination business to Las Vegas, primarily affecting our Orleans property, we are encouraged by the continued strength of the remainder of our Las Vegas Locals portfolio and the performance of our Midwest & South segment.”

Boyd Gaming’s net income for Q3 2026 decreased by 91.3% to $124.9m, although the fall is mainly due in part to the prior year figure having been affected by the operator’s sale of its remaining shares in FanDuel to Flutter Entertainment. 

While Smith appeared motivated by the operator’s Las Vegas Locals portfolio, the segment reported a revenue decrease of 1.6% during Q3 to $207.4m. The Downtown Las Vegas area generated $47.4m of revenue for Boyd Gaming, but still fell 10.9% year-over-year. 

The operator’s Midwest & South segment managed to increase revenue by 0.3% to $540.5m, while adjusted EBITDA for the region remained stagnant at $201.6m. 

Online operations accounted for nearly $154.5m of Boyd Gaming’s total Q3 revenue and decreased 6.7%, followed by managed & other revenue which drove $40.6m and grew 13.3%. 

Las Vegas Locals and Downtown Las Vegas operations were responsible for $87.4m and $12.9m of adjusted EBITDA during Q3, respectively, equating to decreases of 5.1% and 20.3%. Boyd Gaming’s online business produced $10.9m of adjusted EBITDA, having increased 15.9%.

Finally, managed & other generated $29.8m of adjusted EBITDA for the third quarter of 2026, representing an increase of 13.3%. 

Gaming accounted for just over $655m of Boyd Gaming’s Q3 revenue, but still witnessed a decrease of 0.4%. Food & beverage and room operations accounted for just over $73.7m and $43.1m of revenue, respectively, having decreased 2.4% and 4.7%. 

Boyd Gaming’s online revenue grew 23.6%, however, for a total of $33.2m – although revenue from online reimbursements decreased 12.6%. 

In personnel news for the operator, Boyd Gaming appointed Skylar Dice as the new VP & GM of Aliante Casino Hotel & Spa in Las Vegas on October 6, concluding the gaming executive’s tenure with Golden Entertainment which spanned over 11 years.

Dice previously served as SVP and GM of The Strat Hotel, Casino & Tower in Las Vegas, having begun his career with Golden Entertainment as VP and GM of Rocky Gap Casino Resort during 2015.