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BYD 
Boyd Gaming Corporation (BYD)
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Stock price based on last close (see disclosures)
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Upturn Advisory Summary
11/05/2025: BYD (3-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Moderate Performance
These Stocks/ETFs, based on Upturn Advisory, typically align with the market average, offering steady but unremarkable returns.
Number of Analysts
15 Analysts rated it
Moderately tracked stock, growing coverage, gaining market and investor attention.
1 Year Target Price $92.77
1 Year Target Price $92.77
| 7 | Strong Buy |
| 2 | Buy |
| 6 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 18.13% | Avg. Invested days 80 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  3.0 | Stock Returns Performance  2.0 |
| Profits based on simulation | Last Close 11/05/2025 |
Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 6.35B USD | Price to earnings Ratio 3.62 | 1Y Target Price 92.77 |
Price to earnings Ratio 3.62 | 1Y Target Price 92.77 | ||
Volume (30-day avg) 15 | Beta 1.25 | 52 Weeks Range 58.67 - 88.49 | Updated Date 11/7/2025 |
52 Weeks Range 58.67 - 88.49 | Updated Date 11/7/2025 | ||
Dividends yield (FY) 0.89% | Basic EPS (TTM) 22.47 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Earnings Date
Report Date 2025-10-23 | When After Market | Estimate 1.58 | Actual 1.72 |
Profitability
Profit Margin 46.02% | Operating Margin (TTM) 20.59% |
Management Effectiveness
Return on Assets (TTM) 9.21% | Return on Equity (TTM) 87.02% |
Valuation
Trailing PE 3.62 | Forward PE 10.42 | Enterprise Value 10915385503 | Price to Sales(TTM) 1.56 |
Enterprise Value 10915385503 | Price to Sales(TTM) 1.56 | ||
Enterprise Value to Revenue 2.71 | Enterprise Value to EBITDA 9 | Shares Outstanding 78122443 | Shares Floating 54188851 |
Shares Outstanding 78122443 | Shares Floating 54188851 | ||
Percent Insiders 31 | Percent Institutions 75.24 |
Upturn AI SWOT
Boyd Gaming Corporation
Company Overview
History and Background
Boyd Gaming Corporation was founded in 1975 by Sam Boyd. It has grown from a single bingo parlor to a major casino entertainment company with properties across the United States. Key milestones include acquisitions of other casinos and expansion into new markets.
Core Business Areas
- Gaming Operations: Includes casino gaming (slots, table games, poker) at various properties. Generates revenue through wagers and commissions.
- Hotel Operations: Encompasses hotel rooms, suites, and related amenities within casino resorts. Revenue comes from room rentals and related services.
- Food and Beverage: Covers restaurants, bars, and catering services within casino resorts. Generates revenue through sales of food and beverages.
- Retail and Entertainment: Includes retail shops, entertainment venues, and other attractions within casino resorts. Revenue comes from sales and ticket revenue.
- Managed Services: Boyd Gaming manages casinos for other groups.
Leadership and Structure
Keith Smith is the President and CEO. The company has a board of directors and operates with a traditional corporate structure, segmented by function (finance, marketing, operations, etc.) and geography.
Top Products and Market Share
Key Offerings
- Slot Machines: Slot machines are a major revenue driver. Competitors include IGT, Aristocrat Leisure, and Scientific Games. Market share for individual properties is geographically specific, but Boyd operates a large amount of slot machines across it's enterprise.
- Table Games: Table games (blackjack, craps, roulette) contribute significantly to revenue. Competitors include Las Vegas Sands, MGM Resorts International, and Caesars Entertainment. Market share for individual properties is geographically specific, but Boyd's brand is well known for it's table games as well.
- Hotel Rooms: Boyd Gaming offers hotel accommodations at its casino resorts. Competitors are many, including large hotel chains. Revenue varies depending on location and occupancy rates. Rooms are part of a bundled experience that attracts customers to their casinos.
- Online Gaming: Boyd has a presence in online gaming, including partnerships with FanDuel. Key competitors include DraftKings, BetMGM, Caesars Sportsbook.
Market Dynamics
Industry Overview
The gaming industry is highly competitive and subject to economic cycles and regulatory changes. It is in the process of adapting to the rise of online gaming. Regional casinos are gaining traction and doing well.
Positioning
Boyd Gaming is a well-established regional casino operator. Its competitive advantages include a diversified portfolio of properties, a loyal customer base (B Connected loyalty program), and a focus on operational efficiency.
Total Addressable Market (TAM)
The TAM for the US gaming market is estimated to be over $100 billion annually. Boyd Gaming's position is strong within its regional markets and is increasing in the online gaming space. Their footprint is not as large as MGM or Caesars.
Upturn SWOT Analysis
Strengths
- Strong regional presence
- Loyalty program (B Connected)
- Experienced management team
- Diversified portfolio of properties
Weaknesses
- Limited international presence
- Dependence on regional economies
- Smaller scale compared to industry giants (MGM, Caesars)
- Some properties are aging.
Opportunities
- Expansion into new markets (online and physical)
- Acquisitions of smaller casinos
- Development of new gaming technologies
- Further expansion of online gaming/sports betting
- Further develop its loyalty program.
Threats
- Increased competition
- Economic downturns
- Regulatory changes (tax increases, new gaming laws)
- Changing consumer preferences (shifts towards online/mobile gaming)
- Cannibalization from online gaming
Competitors and Market Share
Key Competitors
- MGM Resorts International (MGM)
- Caesars Entertainment (CZR)
- Penn Entertainment (PENN)
Competitive Landscape
Boyd Gaming is smaller than MGM and Caesars but has a strong regional presence. It competes effectively by focusing on customer service, loyalty programs, and operational efficiency.
Major Acquisitions
PENN National Gaming - Ameristar Casinos
- Year: 2018
- Acquisition Price (USD millions): 575
- Strategic Rationale: Expanding Boyd's Midwest presence and diversifying its portfolio with established regional casinos.
Growth Trajectory and Initiatives
Historical Growth: Boyd Gaming's historical growth has been driven by acquisitions, new property development, and organic growth within existing properties.
Future Projections: Future growth projections are based on analyst estimates, which would need to be sourced from financial analysis platforms. These projections depend on overall economic conditions and specific company initiatives.
Recent Initiatives: Recent initiatives include expansion of online gaming platforms, property renovations, and strategic acquisitions.
Summary
Boyd Gaming is a solid regional casino operator with a good loyalty program and experienced management. While smaller than industry giants like MGM and Caesars, it boasts a diversified portfolio of properties and is growing its online presence. The company faces threats from increased competition and economic downturns but has opportunities for further expansion through acquisitions and new market entries.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Company filings (SEC)
- Analyst reports
- Industry publications
- Market research reports
Disclaimers:
This analysis is based on available information and general industry knowledge and should not be considered financial advice. Market share data is approximate and may vary by source. Actual performance may differ from projections.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Boyd Gaming Corporation
Exchange NYSE | Headquaters Las Vegas, NV, United States | ||
IPO Launch date 1993-10-15 | President, CEO & Director Mr. Keith E. Smith | ||
Sector Consumer Cyclical | Industry Resorts & Casinos | Full time employees 16129 | Website https://www.boydgaming.com |
Full time employees 16129 | Website https://www.boydgaming.com | ||
Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in the United States and Canada. It operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments. The company owns and operates casinos; Boyd Interactive, an online casino gaming business; and a travel agency. The company was formerly known as The Boyd Group and changed its name to Boyd Gaming Corporation in April 1993. Boyd Gaming Corporation was founded in 1975 and is headquartered in Las Vegas, Nevada.
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