Online casino

Boyd Gaming sees online casino and sports betting as key to 2022 growth

Las Vegas stalwart Boyd Gaming is doubling down on iGaming and sports betting aspirations in the new year.

CEO and Chairman Keith Smith and Executive Vice President and Chief Financial Officer Josh Hirsberg outlined a vision for the company during a fourth quarter earnings call on Thursday. Boyd Gaming owns Las Vegas casinos like The Orleans, Gold Coast and Sam’s Town, as well as operations in Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio and Pennsylvania.

Smith said the company, through its strategic partnership and 5% stake in the FanDuel Group, recently launched online and retail sports betting operations in Louisiana.

The company also aims to launch mobile and retail sports betting operations, through its FanDuel, Ohio partnership – once the marketplace goes live later this year.

“We believe our online business has tremendous growth potential,” Smith told investors. “Our partnership with FanDuel continues to grow. Over the past two months, we’ve opened FanDuel-branded sportsbooks at each of our five Louisiana properties. And we launched sports betting in Louisiana last week.

“Online and retail sports betting are increasingly important parts of our business.”

Smith said he expects the company’s real-money online casino properties to perfectly complement their land-based casinos, engaging their customer base in new ways and opening up additional revenue streams over the course of the year. to come.

2021 Delivers Record Revenues

In total, Boyd Gaming posted $879.9 million in revenue in the fourth quarter alone, which is a jump of 38.4% from the same period a year ago.

For the full year, Boyd Gaming reported revenue of $3.4 billion, up $1.2 billion from 2020, with net income of $463.8 million. dollars, compared to $134.7 million in 2020.

On Thursday’s call, Smith told investors the company expects 2022 to follow many of the same trends as the calendar year just ended.

Smith cited the company’s net income of $0.96 per share in the fourth quarter, compared to $0.73 in the fourth quarter of 2020, as proof that the future of Boyd Gaming is bright for investors and employees.

“As iGaming continues to expand into new markets across the country, we believe the upside could become even greater in the years to come,” Smith said. “So looking back on 2021, we’ve delivered exceptional results for our shareholders by every measure, and with continued growth opportunities still to come, we’re optimistic for 2022.”

Smith’s confidence for 2022 centered on the company’s ability to leverage its FanDuel partnership in new markets, combined with diminishing impacts from the COVID-19 pandemic.

“As we move forward, we will remain focused on maintaining our strong operational performance, remaining disciplined in our execution and growing our business organically, investing in our existing portfolio and growing our online presence. “Smith said.