---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-25-031621"
form_type: "8-K"
ticker: "BYD"
cik: "0000906553"
company_name: "BOYD GAMING CORP"
filed_at: "2025-10-23T23:59:59+00:00"
generated_at: "2026-05-17T02:39:26.706878+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Boyd Gaming Q3 revenue $1.0B (+4% YoY), adj. EPS $1.72 vs $1.52; FanDuel sale boosts net income

## Summary
- Net income $1.4B ($17.81/sh) includes $1.4B after-tax gain from FanDuel equity sale; year-ago net income $131M ($1.43/sh).
- Adjusted EBITDAR $321.8M vs $336.6M in Q3 2024, reflecting lower market-access fees post-FanDuel transaction.
- Revenue grew 4% to $1.0B; gaming revenues increased across all three property operating segments.
- Returned $175M to shareholders during the quarter; balance sheet strongest in company history.
- Adjusted earnings per share $1.72 vs $1.52 in prior year; core customer play grew year-over-year.

## SEC filing metadata
- accession: 0001437749-25-031621
- form_type: 8-K
- ticker: BYD
- cik: 0000906553
- company_name: BOYD GAMING CORP
- filed_at: 2025-10-23T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/906553/000143774925031621/0001437749-25-031621-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/906553/000143774925031621/bgc20250808_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-25-031621
- JSON: https://secwatch.observer/filing/0001437749-25-031621.json
- Plain text: https://secwatch.observer/filing/0001437749-25-031621.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.