BYD

Boyd Gaming Corporation is a diversified gaming company operating casinos, hotels, and entertainment venues primarily in Nevada and regional markets across the United States. The company operates properties in Las Vegas (including downtown properties and Sam's Town), regional markets in the Midwest and South, and an online gaming business (BetMGM joint venture with MGM Resorts). Boyd Gaming provides casino gaming, hotel accommodations, dining, entertainment, and convention facilities. Founded in 1975 by Sam Boyd and headquartered in Las Vegas, Boyd Gaming has grown through development and acquisitions to become a leading regional casino operator. The company benefits from a diversified geographic footprint, strong local market positions, and efficient operations. Boyd's properties serve local and regional customers rather than depending primarily on destination tourism. The company has successfully integrated online gaming through its BetMGM partnership, providing exposure to sports betting and iGaming growth. Boyd Gaming generates strong cash flows and returns capital to shareholders through dividends and buybacks. The company faces competition from regional casinos, tribal gaming, and online competitors, along with economic sensitivity affecting consumer discretionary spending.