---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-26-003201"
form_type: "8-K"
ticker: "BYD"
cik: "0000906553"
company_name: "BOYD GAMING CORP"
filed_at: "2026-02-05T23:59:59+00:00"
generated_at: "2026-05-16T04:44:27.325467+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Boyd Gaming Q4 revenue rises to $1.1B; adjusted EPS $2.21 vs $1.96 YoY

## Summary
- Q4 2025 revenue $1.1B (up from $1.0B YoY); net income $140.4M ($1.79 EPS) vs $170.5M ($1.92 EPS).
- Q4 Adjusted EBITDAR $336.6M vs $379.3M; Adjusted Earnings $173.5M ($2.21 per share) vs $174.7M ($1.96).
- Full-year 2025 revenue $4.1B (record); includes $1.4B after-tax gain from FanDuel stake sale and $128.4M impairment.
- Full-year Adjusted Earnings $604.6M ($7.40 EPS) vs $611.3M ($6.55 EPS); Adjusted EBITDAR flat at $1.4B.
- Returned over $800M to shareholders via buybacks/dividends; progressing on $750M Virginia resort.

## SEC filing metadata
- accession: 0001437749-26-003201
- form_type: 8-K
- ticker: BYD
- cik: 0000906553
- company_name: BOYD GAMING CORP
- filed_at: 2026-02-05T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/906553/000143774926003201/0001437749-26-003201-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/906553/000143774926003201/bgc20260106_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-26-003201
- JSON: https://secwatch.observer/filing/0001437749-26-003201.json
- Plain text: https://secwatch.observer/filing/0001437749-26-003201.txt

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