Boyd Gaming’s Q3 2025 performance was entirely dominated by the July 31, 2025 sale of its 5% equity interest in FanDuel, which generated \(1.758 billion in cash proceeds and resulted in a \)1.748 billion pre-tax gain.
Financial Performance Summary: GAAP Net Income surged to \(1.44 billion for the quarter (versus \)131.1 million in Q3 2024), primarily due to this non-operating gain, which masked operational pressures. Core gaming revenues grew 2.6%, while Total Revenues increased 4.5% (to $1.004 billion), largely due to a pass-through online reimbursement revenue item. Conversely, Operating In
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