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Boyd Gaming Corporation (BYD)



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Upturn Advisory Summary
07/10/2025: BYD (3-star) is a STRONG-BUY. BUY since 42 days. Profits (19.08%). Updated daily EoD!
1 Year Target Price $80.62
1 Year Target Price $80.62
7 | Strong Buy |
2 | Buy |
6 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 22.61% | Avg. Invested days 67 | Today’s Advisory Strong Buy |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 6.48B USD | Price to earnings Ratio 13.06 | 1Y Target Price 80.62 |
Price to earnings Ratio 13.06 | 1Y Target Price 80.62 | ||
Volume (30-day avg) 15 | Beta 1.27 | 52 Weeks Range 52.22 - 87.76 | Updated Date 07/11/2025 |
52 Weeks Range 52.22 - 87.76 | Updated Date 07/11/2025 | ||
Dividends yield (FY) 0.92% | Basic EPS (TTM) 6.1 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 13.96% | Operating Margin (TTM) 23.41% |
Management Effectiveness
Return on Assets (TTM) 9.37% | Return on Equity (TTM) 35.55% |
Valuation
Trailing PE 13.06 | Forward PE 12.27 | Enterprise Value 10855092939 | Price to Sales(TTM) 1.64 |
Enterprise Value 10855092939 | Price to Sales(TTM) 1.64 | ||
Enterprise Value to Revenue 2.74 | Enterprise Value to EBITDA 9.11 | Shares Outstanding 81403104 | Shares Floating 57009019 |
Shares Outstanding 81403104 | Shares Floating 57009019 | ||
Percent Insiders 30.05 | Percent Institutions 75.29 |
Upturn AI SWOT
Boyd Gaming Corporation

Company Overview
History and Background
Boyd Gaming Corporation was founded in 1975 by Sam Boyd. Initially a small operator in Las Vegas, it grew through acquisitions and development to become a major national casino and entertainment company.
Core Business Areas
- Gaming Operations: Operates casinos with slot machines, table games, and poker rooms. This includes land-based casinos and online platforms in certain states.
- Hotel Operations: Provides hotel accommodations, often integrated within casino resorts, offering lodging and related services.
- Food and Beverage: Operates restaurants, bars, and other food and beverage outlets within casino resorts.
- Entertainment: Offers various entertainment options, including live performances, events, and other attractions at its properties.
Leadership and Structure
Keith Smith is the President and CEO. The company has a typical corporate structure with a board of directors and various executive leadership positions overseeing different departments and operations.
Top Products and Market Share
Key Offerings
- Slot Machines: Slot machines are a primary revenue driver. Market share data is proprietary and varies by location. Competitors include IGT, Aristocrat, and Scientific Games.
- Table Games: Table games like blackjack and roulette contribute significantly to revenue. Market share data is proprietary and varies by location. Competitors include MGM Resorts, Caesars Entertainment, and Penn Entertainment.
- Hotel Rooms: Hotel rooms at Boyd Gaming properties generate revenue. Competitors depend on the location.
- Online Gaming: Boyd Interactive is an online casino gaming division with varying revenue contributions. Competitors include DraftKings, FanDuel, and BetMGM.
Market Dynamics
Industry Overview
The casino and gaming industry is a mature and highly competitive market, subject to economic cycles, regulatory changes, and evolving consumer preferences, including a shift towards online gaming.
Positioning
Boyd Gaming operates primarily in the regional casino market, focusing on providing value and a consistent experience. Its competitive advantages include its established brand, loyal customer base, and geographically diverse portfolio.
Total Addressable Market (TAM)
The estimated global gambling market is worth hundreds of billions of USD. Boyd Gaming focuses on US regional markets, targeting a smaller portion of the overall TAM. The company's TAM depends on the performance of the Las Vegas local market, regional casinos, and the growth of online casinos.
Upturn SWOT Analysis
Strengths
- Established brand recognition
- Diverse geographic footprint
- Strong regional casino presence
- Loyal customer base
- Solid financial performance
- Experienced management team
Weaknesses
- Dependence on regional economies
- Exposure to regulatory risks
- Limited international presence
- High capital expenditure requirements
- Vulnerability to economic downturns
Opportunities
- Expansion into new markets
- Growth in online gaming
- Strategic acquisitions
- Development of new amenities
- Increased focus on customer loyalty programs
- Partnerships with other entertainment providers
Threats
- Increased competition
- Economic recession
- Changes in gaming regulations
- Shifting consumer preferences
- Impact of COVID-19 variants
- Cybersecurity threats
Competitors and Market Share
Key Competitors
- CZR
- PENN
- MGM
Competitive Landscape
Boyd Gaming competes primarily in the regional casino market, offering a value-oriented experience. It differentiates itself through its diverse geographic footprint and strong customer loyalty programs.
Major Acquisitions
Pala Interactive
- Year: 2022
- Acquisition Price (USD millions): 170
- Strategic Rationale: To accelerate its entry into online gaming and technology development.
Growth Trajectory and Initiatives
Historical Growth: Boyd Gaming has grown steadily through acquisitions and organic growth, particularly in the regional casino market.
Future Projections: Analysts project moderate revenue growth driven by online gaming expansion and continued strength in regional markets. Expected earnings growth is in the single digits.
Recent Initiatives: Recent initiatives include expansion of online gaming platforms, upgrades to existing properties, and strategic acquisitions to expand market share.
Summary
Boyd Gaming is a solid regional casino operator with a growing online presence. The company benefits from a diversified portfolio and strong customer loyalty, but faces competition and regulatory risks. Their strategic acquisitions and focus on online gaming are promising for future growth. Investors should monitor macroeconomic factors and regulatory changes impacting the industry.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company SEC Filings
- Analyst Reports
- Industry News
Disclaimers:
This analysis is for informational purposes only and does not constitute financial advice. Market conditions and company performance are subject to change.
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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