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Boyd Gaming Corp (BYD) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

Boyd Gaming Corp

CIK: 906553 Ticker: BYD

Exhibit 99.1

 

 

 

boydgaminglogo.jpg

 

 

 

Financial Contact:

 

Media Contact:

 

Josh Hirsberg

 

David Strow

 

(702) 792-7234

 

(702) 792-7386

 

joshhirsberg@boydgaming.com

 

davidstrow@boydgaming.com

 

BOYD GAMING REPORTS FOURTH-QUARTER, FULL-YEAR 2021 RESULTS

Company Sets Fourth-Quarter, Full-Year Records for Revenues, Adjusted EBITDAR

and Net Income

 

Board Reinstates Quarterly Dividend, Increases Payout to $0.15 Per Share

 

LAS VEGAS - FEBRUARY 3, 2022 -

Boyd Gaming Corporation (NYSE: BYD) today reported financial results for the fourth quarter and full year ended December 31, 2021.

 

Keith Smith, President and Chief Executive Officer of Boyd Gaming, said: “Our Company finished 2021 with record quarterly performances across every segment of our operations.  For the fourth straight quarter, we set new records for Companywide EBITDAR and operating margins. And on a full-year basis, we surpassed our previous EBITDAR record by more than 50%, as we achieved Companywide operating margins of more than 40%. As we begin 2022, we remain focused on executing our proven operating strategy, as well as driving incremental growth through strategic reinvestments in our portfolio and the continued expansion of our online business."

 

Smith continued: "Given the ongoing strength of our business, we are expanding our program to return capital to our shareholders by reinstating our quarterly dividend.  In conjunction with our current share repurchase program, this action reflects our commitment to a balanced approach to creating long-term shareholder value.”

 

Boyd Gaming reported fourth-quarter 2021 revenues of $879.8 million, up 38.4% from $635.9 million in the fourth quarter of 2020. The Company reported net income of $109.8 million, or $0.96 per share, for the fourth quarter of 2021, compared to $83.3 million, or $0.73 per share, for the year-ago period.

 

 

1

The following information was filed by Boyd Gaming Corp (BYD) on Thursday, February 3, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Definitive Proxy Statement (Form DEF 14A)
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Boyd Gaming Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

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Inside Boyd Gaming Corp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parentheticals)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Stockholders' Equity
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Operations
Note 1 - Summary Of Significant Accounting Policies
Note 1 - Summary Of Significant Accounting Policies (Details Textual)
Note 1 - Summary Of Significant Accounting Policies (Tables)
Note 1 - Summary Of Significant Accounting Policies - Allowance For Doubtful Accounts (Details)
Note 1 - Summary Of Significant Accounting Policies - Investment Maturity (Details)
Note 1 - Summary Of Significant Accounting Policies - Property, Plant And Equipment, Useful Life (Details)
Note 1 - Summary Of Significant Accounting Policies - Reconciliation Of Cash, Cash Equivalents And Restricted Cash (Details)
Note 1 - Summary Of Significant Accounting Policies - Schedule Of Promotional Allowances (Details)
Note 1 - Summary Of Significant Accounting Policies - Self-Insurance Reserves (Details)
Note 10 - Stockholders' Equity And Stock Incentive Plans
Note 10 - Stockholders' Equity And Stock Incentive Plans (Details Textual)
Note 10 - Stockholders' Equity And Stock Incentive Plans (Tables)
Note 10 - Stockholders' Equity And Stock Incentive Plans - Career Share Activity (Details)
Note 10 - Stockholders' Equity And Stock Incentive Plans - Classification Of Total Costs (Details)
Note 10 - Stockholders' Equity And Stock Incentive Plans - Dividends (Details)
Note 10 - Stockholders' Equity And Stock Incentive Plans - Psu Activity (Details)
Note 10 - Stockholders' Equity And Stock Incentive Plans - Rsu Activity (Details)
Note 10 - Stockholders' Equity And Stock Incentive Plans - Share Repurchases (Details)
Note 10 - Stockholders' Equity And Stock Incentive Plans - Share-Based Compensation (Details)
Note 10 - Stockholders' Equity And Stock Incentive Plans - Stock Option Activity (Details)
Note 10 - Stockholders' Equity And Stock Incentive Plans - Stock Options Outstanding Exercisable (Details)
Note 11 - Fair Value Measurements
Note 11 - Fair Value Measurements (Details Textual)
Note 11 - Fair Value Measurements (Tables)
Note 11 - Fair Value Measurements - Changes In Fair Value Of Level 3 Assets And Liabilities (Details)
Note 11 - Fair Value Measurements - Fair Value Of Financial Instruments (Details)
Note 11 - Fair Value Measurements - Long-Term Debt (Details)
Note 11 - Fair Value Measurements - Minimum Assessment Agreements (Details)
Note 12 - Employee Benefit Plans
Note 12 - Employee Benefit Plans (Details Textual)
Note 13 - Segment Information
Note 13 - Segment Information (Details Textual)
Note 13 - Segment Information (Tables)
Note 13 - Segment Information - Assets By Reportable Segment (Details)
Note 13 - Segment Information - Reconciliation Of Capital Expenditures (Details)
Note 13 - Segment Information - Reconciliation Of Total Reportable Segment Adjusted Ebitdar To Operating Income (Details)
Note 13 - Segment Information - Revenues For Reportable Segments (Details)
Note 14 - Related Party Transactions
Note 14 - Related Party Transactions (Details Textual)
Note 15 - Subsequent Events
Note 2 - Property And Equipment, Net
Note 2 - Property And Equipment, Net (Details Textual)
Note 2 - Property And Equipment, Net (Tables)
Note 2 - Property And Equipment, Net - Schedule Of Property And Equipment (Details)
Note 3 - Intangible Assets
Note 3 - Intangible Assets (Details Textual)
Note 3 - Intangible Assets (Tables)
Note 3 - Intangible Assets - Changes In Intangible Assets (Details)
Note 3 - Intangible Assets - Future Amortization (Details)
Note 3 - Intangible Assets - Schedule Of Intangible Assets (Details)
Note 4 - Goodwill
Note 4 - Goodwill (Details Textual)
Note 4 - Goodwill (Tables)
Note 4 - Goodwill - Goodwill (Details)
Note 4 - Goodwill - Goodwill Activity (Details)
Note 5 - Accrued Liabilities
Note 5 - Accrued Liabilities (Tables)
Note 5 - Accrued Liabilities - Schedule Of Accrued Liabilities (Details)
Note 6 - Long-Term Debt
Note 6 - Long-Term Debt (Details Textual)
Note 6 - Long-Term Debt (Tables)
Note 6 - Long-Term Debt - Early Extinguishment Of Debt (Details)
Note 6 - Long-Term Debt - Maturities Of Long-Term Debt (Details)
Note 6 - Long-Term Debt - Maximum Total Leverage Ratio (Details)
Note 6 - Long-Term Debt - Outstanding Principal Amounts (Details)
Note 6 - Long-Term Debt - Schedule Of Long-Term Debt (Details)
Note 7 - Income Taxes
Note 7 - Income Taxes (Details Textual)
Note 7 - Income Taxes (Tables)
Note 7 - Income Taxes - Deferred Tax Assets (Details)
Note 7 - Income Taxes - Provision (Benefit) For Income Taxes (Details)
Note 7 - Income Taxes - Reconciliation Of Effective Tax Rate (Details)
Note 7 - Income Taxes - Unrecognized Tax Benefits (Details)
Note 8 - Commitments And Contingencies
Note 8 - Commitments And Contingencies (Details Textual)
Note 9 - Leases
Note 9 - Leases (Details Textual)
Note 9 - Leases (Tables)
Note 9 - Leases - Future Minimum Rental Income (Details)
Note 9 - Leases - Lease Cost (Details)
Note 9 - Leases - Maturity Of Lease Liabilities (Details)
Note 9 - Leases - Supplemental Balance Sheet Information (Details)
Note 9 - Leases - Supplemental Cash Flow Information (Details)
Significant Accounting Policies (Policies)
Ticker: BYD
CIK: 906553
Form Type: 10-K Annual Report
Accession Number: 0001437749-22-004655
Submitted to the SEC: Mon Feb 28 2022 5:01:03 PM EST
Accepted by the SEC: Mon Feb 28 2022
Period: Friday, December 31, 2021
Industry: Hotels And Motels

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