About Par-A-Dice Gaming Corporation
Boyd Gaming operates about 30 wholly owned casino properties in Nevada and some ten other US states. Most of its properties are resorts or hotels that feature pools, full casinos, restaurants, shops, and on-site entertainment options for guests. The company also has a partnership with digital gaming company FanDuel Group through which it uses FanDuel's technology for its own online and mobile gambling and sports betting services. In addition to its casinos, Boyd owns and operates a travel agency and a travel insurance company in Hawaii. The company was founded in 1975.
Boyd Gaming has three reportable segments: Midwest & South, Las Vegas Locals, and Downtown Las Vegas.
The company's largest segment, Midwest & South, accounts for about two-thirds of its revenue. It comprises four land casinos, six dockside riverboat casinos, three racinos (combination race tracks and casinos), and four barge casinos that operate in nine Midwestern and southern US states. Those states generally restrict casino gambling by issuing limited numbers of gaming licenses.
The Las Vegas Locals segment has nine casinos that address Las Vegas metropolitan residents. The division's largest casinos by gaming space are The Orleans Hotel and Casino, Aliante Casino + Hotel + Spa, and Sam's Town Hotel and Gambling Hall. Las Vegas Locals provides about a quarter of Boyd's revenue.
The Downtown Las Vegas segment represents around 10% of the company's revenue and includes three properties: California Hotel and Casino; Fremont Hotel and Casino; and Main Street Station Casino, Brewery and Hotel. The segment primarily serves a niche demographic of Hawaiian gamblers via Boyd's Vacations Hawaii travel agency which operates up to four chartered flights from Honolulu to Las Vegas each week.
The company derives about three-fourths of its revenue from gaming. Food and beverages supply about 15%; hotel room fees and other revenue each bring in about 10%.
Headquartered in Las Vegas, Boyd Gaming has operations in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company garners around 35% of its revenue from its properties in the Las Vegas metropolitan area.
Sales and Marketing
Boyd Gaming loyalty rewards programs to attract and retain customers. The company's B Connected loyalty program provides customers cards that allow them to earn points that can be used to play slot, video poker, and table games. The program also includes tiered member benefits such as cruises, vacations, and gifts like jewelry and electronics.
Advertising costs were $44.7 million, $33.7 million and $29.9 million for the years ended December 31, 2019, 2018 and 2017, respectively.
Except for 2016, Boyd Gaming has grown its revenue each year since 2015; in that time, it has added about 50% to its top line.
The company's revenue increased 21% to $3.3 billion in 2019 due primarily to the acquisitions of Lattner on June 1, 2018, Valley Forge on September 17, 2018 and Ameristar Kansas City, Ameristar St. Charles, Belterra Resort and Belterra Park on October 15, 2018.
Boyd's net income expanded 27% to $157 million. The $42.6 million change is primarily due to the increase in income from continuing operations, net of tax, of $42.9 million.
The company fell $2.8 million to its cash in 2019 to finish the year with $270.4 million. Operations provided $549.0 million. It used $320.3 million through its financing activities—mostly senior note issuances. Acquisitions drove investment spend of $2.3 million.
Boyd Gaming's strategy centers on expanding its property and gaming unit portfolio through acquisitions in its Midwest & South segment (which represents its largest revenue stream) and renovating its more dated casinos. The company also recently entered the online gambling market.
In 2018 Boyd acquired the Belterra Casino Resort in Indiana, the Ameristar Casino Hotel Kansas City and the Ameristar Casino Resort Spa St. Charles in Missouri, the Belterra Park casino in Ohio, and the Valley Forge Casino Resort in Pennsylvania. That year the company also acquired Lattner Entertainment Group Illinois, a distributed gaming operator in Illinois. Lattner has almost 1,000 gaming units in about 220 locations.
Boyd partnered with FanDuel Group in 2018 to use the online sports betting company's technology for its own Boyd-branded online and mobile gambling and sports betting services.
Boyd Gaming patriarch Sam Boyd may have caught the gambling bug early in life: his grandfather reportedly played poker with the outlaw Jesse James. After a stint working on gambling ships during the 1930s, Boyd arrived in Las Vegas in 1941 with less than $100 in his pockets and started running a penny roulette wheel. After years of saving half of what he made, Boyd invested $10,000 for an interest in the Sahara Hotel in 1952. He and his son William purchased the Eldorado Club in Henderson, Nevada, ten years later. Together, they founded Boyd Gaming in 1974 and opened the California Hotel in downtown Vegas the following year. In 1979 they opened Sam's Town on Las Vegas' Boulder Strip.
21 Blackjack Blvd
East Peoria, IL 61611-2010
Phone: 1 (309) 698-7711
Employer Type: Privately Owned
Senior Buyer: Becky Hoffman
Employees (This Location): 133
Employees (All Locations): 900
East Peoria, IL
East Peoria, IL