Boyd Gaming Q3 revenue rises to $1.0 billion; FanDuel gain lifts net income
Boyd Gaming reported third-quarter 2025 revenue of $1.0 billion, up from $961.2 million a year earlier. Net income of $1.4 billion, or $17.81 per share, was driven by a $1.4 billion after-tax gain on the sale of its FanDuel stake, while adjusted earnings were $139.1 million, or $1.72 per share, compared with $1.52 per share a year earlier. Adjusted EBITDAR fell to $321.8 million from $336.6 million, and the company returned $175 million to shareholders during the quarter.
Key points
- Revenue was $1.0 billion for the third quarter of 2025, compared with $961.2 million in the third quarter of 2024.
- Net income was $1.4 billion, or $17.81 per share, including a $1.4 billion after-tax gain from the FanDuel sale and $65.1 million in pretax impairment charges.
- Adjusted earnings were $1.72 per share, compared with $1.52 per share a year earlier; Adjusted EBITDAR was $321.8 million versus $336.6 million.
- Boyd repurchased $160 million of stock in the quarter, had about $547 million left on its authorization, and paid a $0.18 quarterly dividend on October 15, 2025.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:05 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 23, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.