Boyd Gaming Corp. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Boyd Gaming Corp. filed its Q1 2024 10-Q, detailing segment revenues and share repurchase information.</b>

AI Summary

BOYD GAMING CORP (BYD) filed a Quarterly Report (10-Q) with the SEC on May 3, 2024. Boyd Gaming Corp. reported financial results for the quarter ended March 31, 2024. The company's filing includes detailed segment information for Casino, Food & Beverage, Occupancy, Online, Management Services, and Other Products & Services. Share repurchase activity for the twelve months ended December 31, 2023, 2022, and 2021 is noted, excluding settled repurchases. Financial data includes common stock, additional paid-in capital, retained earnings, and accumulated other comprehensive income as of various dates. The filing provides comparative financial data for the quarters ended March 31, 2024, and March 31, 2023.

Why It Matters

For investors and stakeholders tracking BOYD GAMING CORP, this filing contains several important signals. This filing provides investors with the latest quarterly financial performance and operational details of Boyd Gaming, crucial for assessing the company's current health and future prospects. Understanding the segment revenues and share repurchase activity offers insights into the company's strategic capital allocation and business segment performance.

Risk Assessment

Risk Level: low — BOYD GAMING CORP shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain significant new risks or negative developments beyond typical business operations.

Analyst Insight

Monitor future filings for trends in segment performance and any changes in share repurchase strategies.

Revenue Breakdown

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed Period of Report)
• 2024-05-03 — Filing Date (Filed as of Date)
• 2024-01-01 — Q1 2024 Start Date (Reporting Period)
• 2023-03-31 — Prior Year Q1 End Date (Comparative Period)

Key Players & Entities

• BOYD GAMING CORP (company) — Filer
• BYD (company) — Ticker Symbol
• NV (company) — State of Incorporation
• 7011 (company) — Standard Industrial Classification
• 880242733 (company) — IRS Number
• 001-12882 (company) — SEC File Number

FAQ

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-05-03: Filing Date — Date the 10-Q was officially filed with the SEC.

Key Financial Figures

• $0.01 — nge on which registered Common stock, $0.01 par value BYD New York Stock Exchan

Filing Documents

• bgc20240331_10q.htm (10-Q) — 1667KB
• ex_646281.htm (EX-31.1) — 13KB
• ex_646282.htm (EX-31.2) — 13KB
• ex_646283.htm (EX-32.1) — 7KB
• ex_646284.htm (EX-32.2) — 7KB
• logo1.jpg (GRAPHIC) — 12KB
• 0001437749-24-014653.txt (&nbsp;) — 8261KB
• byd-20240331.xsd (EX-101.SCH) — 62KB
• byd-20240331_cal.xml (EX-101.CAL) — 49KB
• byd-20240331_def.xml (EX-101.DEF) — 378KB
• byd-20240331_lab.xml (EX-101.LAB) — 340KB
• byd-20240331_pre.xml (EX-101.PRE) — 410KB
• bgc20240331_10q_htm.xml (XML) — 1807KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations for the three months ended March 31, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Income for the three months ended March 31, 2024 and 2023 5 Condensed Consolidated Statements of Changes in Stockholders' Equity for the three months ended March 31, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 33 Item 4.

Controls and Procedures

Controls and Procedures 34

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 35 Item 1A.

Risk Factors

Risk Factors 35 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 35 Item 5. Other Information 35 Item 6. Exhibits 36 Signature Page 37 Table of Contents

Financial Information

PART I. Financial Information

Financial Statements ( Unaudited )

Item 1. Financial Statements ( Unaudited ) BOYD GAMING CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) March 31, December 31, (In thousands, except share data) 2024 2023 ASSETS Current assets Cash and cash equivalents $ 283,545 $ 304,271 Restricted cash 4,493 3,659 Accounts receivable, net 118,896 137,892 Inventories 20,442 20,692 Prepaid expenses and other current assets 53,053 59,293 Income taxes receivable — 3,508 Total current assets 480,429 529,315 Property and equipment, net 2,573,183 2,542,512 Operating lease right-of-use assets 778,462 793,335 Other assets, net 69,572 67,779 Intangible assets, net 1,378,946 1,392,844 Goodwill, net 947,300 947,341 Total assets $ 6,227,892 $ 6,273,126 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 106,408 $ 124,668 Current maturities of long-term debt 44,325 44,275 Accrued liabilities 412,402 427,379 Income taxes payable 37,258 — Total current liabilities 600,393 596,322 Long-term debt, net of current maturities and debt issuance costs 2,823,739 2,871,223 Operating lease liabilities, net of current portion 696,929 711,387 Deferred income taxes 288,988 288,826 Other liabilities 62,887 61,266 Commitments and contingencies (Note 6) Stockholders' equity Preferred stock, $ 0.01 par value, 5,000,000 shares authorized — — Common stock, $ 0.01 par value, 200,000,000 shares authorized; 95,409,736 and 96,832,453 shares outstanding 954 968 Additional paid-in capital — — Retained earnings 1,755,168 1,744,232 Accumulated other comprehensive loss ( 1,166 ) ( 1,098 ) Total stockholders' equity 1,754,956 1,744,102 Total liabilities and stockholders' equity $ 6,227,892 $ 6,273,126 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 3 Table of Contents BOYD GAMING CORPORATION AND SUBSIDIARIES CONDENSED CON