Boyd Gaming Corporation (BYD)

Boyd Gaming Corporation (BYD) is a leading multi-jurisdictional gaming and hospitality company, headquartered in Las Vegas, Nevada. Led by CEO Keith Smith, Boyd Gaming’s strategic mission is to "provide a diverse range of entertainment experiences that foster guest loyalty and drive long-term value for shareholders." The company holds a dominant industry position in the "Las Vegas Locals" market and operates a vast portfolio of regional properties across the Midwest and South. Boyd’s vision is to be the "Premier Neighborhood Gaming Destination." By late 2025, BYD stock has performed strongly, driven by aggressive share buybacks and the company’s ability to maintain industry-leading operating margins near 40%.

The business operations of Boyd are organized into Las Vegas Locals, Downtown Las Vegas, and Midwest & South segments. In fiscal 2025, the company reported steady revenue growth, bolstered by its 5% equity stake in FanDuel, which provides significant exposure to the booming online sports betting market. The 2026 strategic roadmap focuses on "Property Re-investments," including major renovations at its flagship Gold Coast and Orleans properties to capture the high-growth affluent local demographic. Boyd holds a "Loyalty Moat" through its Boyd Rewards program, which successfully integrates its physical casinos with its digital offerings. With its robust free cash flow and a disciplined focus on capital allocation, Boyd continues to return substantial value to shareholders through both dividends and its multi-billion dollar buyback authorization.