Boyd Gaming generated nearly $1 billion in revenue in the first quarter of 2026, up year-over-year, but the numbers fell in the Las Vegas local market.
“If you look at the locals’ business, it was down year-over-year by about $6.5 million,” Josh Hirsberg, chief financial officer of the Las Vegas-based company, said Thursday during the company’s first-quarter earnings call with investors.
Hirsberg said he would attribute about $5 million of the shortfall to the softer destination business in Southern Nevada and about $1.5 million to a disruption caused by construction at Suncoast.
“Results in our Las Vegas locals segment reflect continued softness in destination business, with the biggest impact on Orleans,” Boyd president and CEO Keith Smith said on the call.
Smith also attributed some of the softness to Suncoast’s ongoing property-wide renovation project.
“While Suncoast’s management team has done a fantastic job mitigating construction disruptions thus far, our renovation work moved to the most popular part of the casino floor during the quarter,” he said. “We expect this disruption to continue until we complete our renovation project late in the third quarter.”
Boyd, which has 27 casinos in 11 states, is actively investing in its Southern Nevada properties, including the recent March 25 opening of its first development in more than 20 years at the Cadence Crossing casino in Henderson.
“Although it is still early days, this property has received an enthusiastic response from our guests,” said Smith.
The project at Suncoast includes a complete makeover of the casino floor, enhanced food and beverage offerings, and updated meeting and public spaces.
Smith said a hotel room renovation in Orleans is nearing completion later this year, and the company plans to begin a similar project at the Suncoast this summer. He added that in 2027, Boyd plans to begin a modernization project at Orleans similar to the current project at Suncoast.
“In addition, we opened several new restaurant concepts on the Gold Coast in the first quarter, with additional restaurant concepts now in development in Fremont, Aliante and Sam’s Town,” Smith said. “We remain confident in the underlying strength of the Las Vegas economy.”
Smith noted that Southern Nevada’s population reached 2.4 million last year, a 16 percent increase over the past decade and a growth rate more than double the national average. He added that per capita income in the area has grown more than five percent on an average annual basis and total personal income in the region has nearly doubled, while the cost of living in Southern Nevada remains below the national average.
“Overall, the long-term fundamentals of the Southern Nevada economy remain strong,” he said.
Boyd Gaming reported revenue for the first quarter of 2026 of $997.4 million, up from $991.6 million in the first quarter of 2025.
The company reported net income of $105.5 million, or $1.37 per share, for the first quarter of 2026, compared to $111.4 million, or $1.31 per share, in the first quarter of 2025.
Boyd shares, traded on the New York Stock Exchange, closed at $89.15, up 3.5 percent, before first-quarter earnings were released.
Contact reporter Todd Dewey at tdewey@ theplayerlounge.com. Follow @tdewey33 on X.
