The top line Company-wide margins came in at 43% while the Las Vegas locals unit hit 57%. The overall figure represented a 1.6k bps expansion on Q119.<\/p>\n On the earnings call, the company reiterated its FY21 forecast of $20m in EBITDA being generated from the FanDuel sports-betting partnership (5% ownership) and its own Stardust igaming operations.<\/p>\n Peaky blinder:<\/strong> Talking about the record margin performance, Kevin Smith, president and CEO, believed it was sustainable. \u201cThis confidence stems from the fundamental driver of these results: our more efficient business model, our ability to target our core customer and the consistency of the customer base.\u201d CFO Josh Hirsberg added that Boyd was now \u201cmore comfortable with our business shifting to a high-margin business.\u201d Macquarie noted the 57% margins achieved in the Las Vegas locals unit were \u201csome of the strongest margins we have ever seen across all of gaming.\u201d However, management cautioned against simply multiplying the Q2 figures by four to get to a year-end revenue and EBITDA projection.<\/p>\n \u201cQ2 was probably a little peaky,\u201d said Hirsberg. \u201cSo it\u2019s probably not fair to take Q2 and times it by four. It would be a little aggressive.\u201d<\/em><\/p><\/blockquote>\n Off the hook: <\/strong>While Boyd is not a big convention business in Vegas, Hirsberg did have some insight into what we can expect from some of Boyd\u2019s peers in their upcoming results. \u201cOne thing we have seen that may be applicable is that the forward bookings at our hotels are beginning to match 2019 levels.\u201d Smith added that at the company\u2019s one convention hotel, the Orleans, in June \u201cthe phones were ringing a lot and we were beginning to book a lot of business.\u201d<\/p>\n Boyd Gaming Q2 The top line Revenue more than quadrupled YoY to $893.6m (up 18.6% sequentially and a 5.6% increase on Q219) with net income coming in at $113.7m compared to a loss of $108.5m in the prior year period.\u00a0Total adjusted EBITDAR hit $385.4m from $16.1m in Q220, up 23.8% sequentially. Company-wide margins came in […]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[337,324],"tags":[626,709,675,710,619,639],"class_list":["post-1774","post","type-post","status-publish","format-standard","hentry","category-analyst-notes","category-news","tag-bally","tag-boyd","tag-inspired","tag-melco-resorts","tag-playtech","tag-xlmedia"],"_links":{"self":[{"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/posts\/1774","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/comments?post=1774"}],"version-history":[{"count":2,"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/posts\/1774\/revisions"}],"predecessor-version":[{"id":1777,"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/posts\/1774\/revisions\/1777"}],"wp:attachment":[{"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/media?parent=1774"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/categories?post=1774"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/tags?post=1774"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n<\/strong>Revenue more than quadrupled YoY to $893.6m (up 18.6% sequentially and a 5.6% increase on Q219) with net income coming in at $113.7m compared to a loss of $108.5m in the prior year period.\u00a0Total adjusted EBITDAR hit $385.4m from $16.1m in Q220, up 23.8% sequentially.<\/p>\nCheck out these additional articles on Earnings + More:<\/h3>\n
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