Midwest & South was Boyd Gaming’s largest segment in fiscal 2025, bringing in $2.12B of $4.09B (52%).
| Segment | FY 2010 | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Midwest & South | $2.08B | $2.04B | $2.06B | $2.12B | ||||||||||||
| Las Vegas Locals | $930.73M | $928.12M | $894.51M | $889.96M | ||||||||||||
| Borgata (1) | — | — | — | — | ||||||||||||
| Borgata | — | — | — | — | ||||||||||||
| Atlantic City | — | — | — | — | ||||||||||||
| Online | $253.90M | $422.21M | $606.23M | $708.32M | ||||||||||||
| Peninsula | — | — | — | — | ||||||||||||
| Downtown Las Vegas | $215.33M | $222.41M | $230.09M | $228.74M | ||||||||||||
| Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment | — | $123.81M | $135.95M | $148.38M | ||||||||||||
| Managed & Other | $79.35M | — | — | — | ||||||||||||
| Other | — | — | — | — | ||||||||||||
| Total | $3.56B | $3.74B | $3.93B | $4.09B |
Boyd Gaming brought in $4.09B from its five segments in fiscal 2025, the year ended December 31, 2025. That was up 4.1% from $3.93B in fiscal 2024. Midwest & South was the largest at $2.12B (51.7%), ahead of Las Vegas Locals at $889.96M (21.7%) and Online at $708.32M (17.3%). The other two segments brought in $377.12M combined.
Compared with fiscal 2024, Online grew fastest, up 16.8% to $708.32M, while Downtown Las Vegas fell the most, down 0.6% to $228.74M.
Boyd Gaming began breaking out Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment in fiscal 2023, when it brought in $123.81M. Boyd Gaming stopped reporting Managed & Other as a separate segment after fiscal 2022, when it brought in $79.35M.
Casino was Boyd Gaming’s largest product and service line in fiscal 2025, bringing in $2.64B of $4.09B (64%).
| Product and Service | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Casino | $2.67B | $2.61B | $2.58B | $2.64B | |||||
| Online Reimbusements | — | $328.01M | $450.47M | $576.16M | |||||
| Food & Beverage | $275.98M | $288.42M | $303.52M | $310.25M | |||||
| Occupancy | $189.07M | $199.12M | $204.61M | $191.29M | |||||
| Online | $253.90M | $94.20M | $155.76M | $132.17M | |||||
| Product & Service, Other | $134.79M | $138.54M | $143.50M | $145.12M | |||||
| Management Fee | $26.91M | $76.92M | $88.41M | $98.87M | |||||
| Total | $3.56B | $3.74B | $3.93B | $4.09B |
Boyd Gaming brought in $4.09B from its seven product and service lines in fiscal 2025, the year ended December 31, 2025. That was up 4.1% from $3.93B in fiscal 2024. Casino was the largest at $2.64B (64.5%), ahead of Online Reimbusements at $576.16M (14.1%) and Food & Beverage at $310.25M (7.6%). The other four lines brought in $567.44M combined.
Compared with fiscal 2024, Online Reimbusements grew fastest, up 27.9% to $576.16M, while Online fell the most, down 15.1% to $132.17M.
Boyd Gaming began breaking out Online Reimbusements in fiscal 2023, when it brought in $328.01M.
As Previously Reported was Boyd Gaming’s largest revenue line in fiscal 2016, bringing in $2.18B of $2.20B (99%).
| Adjustments for New Accounting Pronouncements | FY 2016 |
|---|---|
| As Previously Reported | $2.18B |
| Adjustments | $15.28M |
| Total | $2.20B |
Boyd Gaming brought in $2.20B from its two revenue lines in fiscal 2016, the year ended December 31, 2016. As Previously Reported was the largest at $2.18B (99.3%), ahead of Adjustments at $15.28M (0.7%).
Boyd Gaming (BYD) reports its revenue by segment, by product and service and by adjustments for new accounting pronouncements. In fiscal 2025, Midwest & South was its largest segment, bringing in $2.12B (51.7% of the total), followed by Las Vegas Locals at $889.96M (21.7%).
Midwest & South was Boyd Gaming's largest segment in fiscal 2025, bringing in $2.12B, or 51.7% of the $4.09B total across its five segments.
Casino was Boyd Gaming's largest product and service line in fiscal 2025, bringing in $2.64B, or 64.5% of the $4.09B total across its seven product and service lines.
As Previously Reported was Boyd Gaming's largest revenue line in fiscal 2016, bringing in $2.18B, or 99.3% of the $2.20B total across its two revenue lines.
Among Boyd Gaming's segments that make up at least 2% of revenue, Online grew fastest in fiscal 2025, up 16.8% from $606.23M to $708.32M.
Every figure comes from Boyd Gaming's annual financial filings, as reported. Each line keeps the name Boyd Gaming gives it, and years follow its fiscal calendar.
Boyd Gaming's revenue by segment goes back to fiscal 2010, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.