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Boyd Gaming Corporation (BYD)



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Upturn Advisory Summary
04/01/2025: BYD (1-star) is currently NOT-A-BUY. Pass it for now.
Analysis of Past Performance
Type Stock | Historic Profit -4.44% | Avg. Invested days 55 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 5.42B USD | Price to earnings Ratio 10.62 | 1Y Target Price 83.08 |
Price to earnings Ratio 10.62 | 1Y Target Price 83.08 | ||
Volume (30-day avg) 952264 | Beta 1.56 | 52 Weeks Range 48.81 - 80.29 | Updated Date 04/1/2025 |
52 Weeks Range 48.81 - 80.29 | Updated Date 04/1/2025 | ||
Dividends yield (FY) 1.09% | Basic EPS (TTM) 6.19 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 14.71% | Operating Margin (TTM) 24.99% |
Management Effectiveness
Return on Assets (TTM) 9.37% | Return on Equity (TTM) 34.76% |
Valuation
Trailing PE 10.62 | Forward PE 9.28 | Enterprise Value 9046320489 | Price to Sales(TTM) 1.38 |
Enterprise Value 9046320489 | Price to Sales(TTM) 1.38 | ||
Enterprise Value to Revenue 2.3 | Enterprise Value to EBITDA 7.5 | Shares Outstanding 82512704 | Shares Floating 59108209 |
Shares Outstanding 82512704 | Shares Floating 59108209 | ||
Percent Insiders 29.63 | Percent Institutions 74.73 |
Analyst Ratings
Rating 4 | Target Price 77.93 | Buy 2 | Strong Buy 7 |
Buy 2 | Strong Buy 7 | ||
Hold 7 | Sell - | Strong Sell - | |
Strong Sell - |
Upturn AI SWOT
Boyd Gaming Corporation

Company Overview
History and Background
Boyd Gaming Corporation was founded in 1975 by Sam Boyd. It began with small casinos in Las Vegas and has grown into a major gaming and hospitality company through acquisitions and development.
Core Business Areas
- Gaming Operations: Owns and operates casinos across multiple states, offering slot machines, table games, and poker.
- Hospitality: Provides hotel accommodations, restaurants, and entertainment venues at its properties.
- Management Services: Manages gaming properties for other owners.
Leadership and Structure
Keith Smith is the President and CEO. The company has a board of directors that oversees strategic decisions. Organizational structure includes regional management teams overseeing operations at individual properties.
Top Products and Market Share
Key Offerings
- Slot Machines: Various slot machine games contribute significantly to revenue. Market share information varies by region. Competitors include IGT and Aristocrat Leisure.
- Table Games: Classic table games like blackjack, craps, and roulette. Competition includes other casino operators like MGM Resorts and Caesars Entertainment. No market share available without detailed geographic breakout.
- Hotel Rooms: Rooms across their many properties. Pricing depends on time of year and location. Major competitors are MGM resorts, Caesars Entertainment, and Wynn Resorts. No market share available without detailed geographic breakout.
Market Dynamics
Industry Overview
The gaming industry is highly competitive and influenced by economic conditions, consumer spending, and regulatory changes. Online gaming is rapidly expanding.
Positioning
Boyd Gaming focuses on regional markets and value-oriented customers. Their strategy emphasizes operational efficiency and customer loyalty programs.
Total Addressable Market (TAM)
The US gaming market is estimated to be over $100 billion annually. Boyd Gaming focuses on a portion of this market, primarily regional gaming destinations. Their position relative to the TAM is that of a strong regional player.
Upturn SWOT Analysis
Strengths
- Strong regional presence
- Focus on value-oriented customers
- Loyalty program (B Connected)
- Experienced management team
Weaknesses
- Limited international exposure
- Dependence on regional economies
- Lower brand recognition compared to national brands
- Exposure to regulatory changes
Opportunities
- Expansion into new regional markets
- Growth in online gaming
- Acquisition of smaller gaming operators
- Development of new entertainment offerings
Threats
- Economic downturns affecting consumer spending
- Increased competition from other gaming operators
- Changes in gaming regulations
- Rise of online gaming cannibalizing land-based revenue
Competitors and Market Share
Key Competitors
- MGM
- CZR
- BYD
Competitive Landscape
Boyd Gaming competes with larger national brands and regional operators. Their focus on value and customer loyalty differentiates them.
Major Acquisitions
PENN National Gaming Properties
- Year: 2018
- Acquisition Price (USD millions): 575
- Strategic Rationale: Expanded Boyd's footprint in the Midwest and East Coast.
Growth Trajectory and Initiatives
Historical Growth: Boyd Gaming has grown through acquisitions and organic expansion in regional markets.
Future Projections: Analysts project continued growth driven by regional gaming markets and potential online gaming expansion.
Recent Initiatives: Recent initiatives include property renovations, technology upgrades, and expansion of the B Connected loyalty program.
Summary
Boyd Gaming is a strong regional player in the gaming industry, characterized by its focus on value-oriented customers and operational efficiency. The company's B Connected loyalty program strengthens customer relationships. Expanding gaming regulations and economic downturns are key concerns. Strategic acquisitions and online expansion will determine future growth.
Similar Companies
- MGM
- CZR
- LVS
- ERI
Sources and Disclaimers
Data Sources:
- Company SEC Filings
- Industry Reports
- Analyst Estimates
Disclaimers:
This analysis is based on available information and is not 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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