Boyd Gaming Corp. says it may reopen its two Las Vegas properties, Main Street Station and the Eastside Cannery, sometime this year.
During a second-quarter earnings call on July 27, executives said downtown visitation is trending well and Main Street will be the first to reopen, according to the Las Vegas Review-Journal.
“Main Street’s future is all about downtown business and the Hawaiian business returning, and Eastside will just depend on volumes,” Boyd President and CEO Keith Smith said on the call.
Smith said the quarter represented an “outstanding performance” by the company and its employees, with year-over-year revenue increases throughout its downtown and locals casinos in Vegas as well as at its Midwest and South regional casinos,. Companywide operating margins topped 43 percent with its Las Vegas locals casinos reaching nearly 57 percent, Boyd reported.
The company recorded $893.6 million in revenues during the second quarter, up 5.6 percent increase over the same period in 2019, the Review-Journal reported. Locals casinos generated $236.1 million in revenues compared with $220.9 million during the same period in 2019, for a 6.9 percent increase. The Midwest and South properties grew 10.9 percent to $618.7 million for the quarter. Downtown revenues grew from $21.4 million over the first quarter to $38.8 million over the second. Even so, the results fell short of 2019’s figures, by about 40 percent.
The positive numbers were attributed to streamlined operating costs, “enhanced capabilities and focus on our core customers all continue to drive strong results throughout our portfolio,” Smith said. In 2020, Boyd eliminated its entertainment division and cut its workforce. Boyd CFO Josh Hirsberg called it the “new normal.”
