Boyd Gaming Q2 revenue flat YoY as operating income falls 17% on higher costs, lost FanDuel fees

Filed July 30, 2026 · Period ending June 30, 2026 · Compared to 10-Q Jul 30, 2025 · ~2 min read

Key Changes

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  Operating income fell $41.7M (17%) in Q2 2026 vs. Q2 2025, driven by $21.1M higher depreciation (new properties and renovations), $12.6M higher preopening/writedown costs, and $13.9M lost market-access revenue following the FanDuel equity sale.

  MD&A: Operating Income verify on EDGAR →
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  FanDuel equity sale closed Q3 2025 for $1.755B; proceeds retired $1,680.9M under Prior Credit Facility. Market-access revenue fell $13.9M in Q2 2026 as terminated agreements were replaced with lower-rate contracts, compressing Online segment margin to 34.0% from 58.7%.

  MD&A: FanDuel Sale & Online Margin verify on EDGAR →
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  Las Vegas Locals revenue fell 1.4% in Q2 2026 (Adjusted EBITDAR down 5.6%) on continued destination-business softness (began Q3 2025) and construction disruption at Suncoast, where casino modernization moved to the most popular floor area.

  MD&A: Las Vegas Locals verify on EDGAR →