Boyd Gaming Corp. is moving forward with its casino construction projects in Nevada and Virginia, including the Cadence Crossing casino in Henderson, despite increased costs due to tariffs and economic factors. The company cites a strong balance sheet and strategic planning as reasons for its confidence.
The Cadence Crossing project, Boyd's first new casino development in 20 years, and a $750 million casino in Norfolk, Virginia, are both on schedule, as is the Sky River casino expansion in California. Executives express confidence that current budgets will not need adjustments.
Boyd Gaming reported strong first-quarter 2025 financial results, with growth in digital, downtown Las Vegas, and Midwest/South market segments. While the locals market saw a slight decline, attributed to challenges at The Orleans, overall company-wide play from core customers grew. Revenue reached $991.6 million, with $222.8 million from Las Vegas locals casinos and $57.3 million from downtown properties. Adjusted EBITDA reached $309.4 million.
The company attributes its positive results to a diversified business, resilient customer base, and appealing properties. Growth is driven by factors such as increased Hawaiian visitation to downtown Las Vegas casinos.