Boyd Gaming Stays on Track with Henderson Casino Development
USA.- April 29, 2025 www.zonadeazar.com Boyd Gaming Corp. is proceeding with confidence on its new casino developments in Nevada and Virginia, even as rising tariffs and other economic pressures drive up construction costs, executives said Thursday.
Supported by what the company’s president and CEO described as “the strongest balance sheet in our history,” Boyd confirmed that the Cadence Crossing project in Henderson and the $750 million casino development in Norfolk, Virginia, remain on track. Progress is also steady on the Sky River casino expansion in Northern California.
Josh Hirsberg, executive vice president and chief financial officer, explained that the Las Vegas-based company launched its current capital investments from a “position of strength,” highlighting strategic efforts in procurement and planning.
“We’re very comfortable with our position,” Hirsberg stated during Boyd’s quarterly earnings call. “After a thorough analysis, we’re confident in the risks compared to our existing budgets. Based on what we know today, we don’t anticipate any need to revise those budgets.”
Earlier this month, Boyd officially began construction on Cadence Crossing, a 50,000-square-foot casino located on the former site of Joker’s Wild in Henderson. It represents Boyd’s first brand-new casino build in two decades.
Boyd also reported steady financial results for the first quarter of 2025, with year-over-year performance driven by growth in digital operations, downtown Las Vegas properties, and the Midwest/South regions. While the locals market saw a roughly 4% decline compared to 2024, the company attributed this to challenges at The Orleans hotel-casino, including nearby construction work and increased competition.
President and CEO Keith Smith noted that “core customer play continued to strengthen across the company during the first quarter.” He added that a surge in Hawaiian tourism helped boost performance at Boyd’s downtown Las Vegas properties.
In terms of revenue, Boyd posted $222.8 million from its Las Vegas locals casinos and $57.3 million from downtown properties, contributing to total quarterly revenue of $991.6 million across all segments, including digital.
Boyd’s adjusted EBITDA for the quarter reached $309.4 million, up from $303.3 million a year earlier. “Our first-quarter revenue and EBITDAR growth demonstrate the strength of our diversified operations, the resilience of our customer base, and the enduring appeal of our properties,” Smith concluded.
Edited by: @MaiaDigital www.zonadeazar.com