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As organizers of the world-renowned SiGMA summits, we provide a platform for industry leaders to connect and discuss the latest trends and technologies in the gambling world. Join us and be part of the future of online gambling.

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So why wait? Join forces with SiGMA Play today and take advantage of our platform to reach new heights of success. Let us assist you in attracting more players and growing your business in the highly competitive gaming industry.

OUR EVENTS

UPCOMING EVENTS

SiGMA is the global gateway to the online Gaming world. Trusted by most gaming companies worldwide, we host the industry at six annual conferences and exhibitions in both established markets and the most exciting emerging jurisdictions. With industry thought leaders and C-suite speakers, our conferences provide up-to-date insight on the latest iGaming trends, whilst our buzzing expo and evening socials provide not-to-be-missed networking opportunities.

MANILA

03-05 JUN 2024

MANILA

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BUDAPEST

02-04 SEP 2024

BUDAPEST

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MALTA

11-14 NOV 2024

MALTA

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DUBAI

23 – 25 FEB 2025

DUBAI

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CAPE TOWN

10-12 MAR 2025

CAPE TOWN

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SÃO PAULO

22-24 APR 2025

SÃO PAULO

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Latest News & Headlines

The Latest Industry News

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Boyd Gaming’s online surge cushions land based downturn in Q1 2024

Boyd Gaming Corporation’s Q1 2024 report reveals a slight dip in overall revenue, with a 0.4 percent decrease from Q1 2023, amounting to $960.5 nillion. This decline is attributed to a 4.5 However, the company’s online segment showed a promising 19 percent growth, bringing in $146.2 nillion and partially offsetting the land-based losses.

The company cites severe weather conditions in the South and Midwest, coupled with heightened competition in the Las Vegas locals market, as contributing factors to the land-based revenue decline. EBITDAR (Earnings Before Interest, Taxes, Depreciation, Amortization, and Restructuring or Rent Costs) also saw a 10 percent year-on-year decrease, falling to $330.5 million in Q1 2024. Furthermore, net income experienced a significant 31.7 percent drop, settling at $136.4 million.

He credits the company’s disciplined operating and marketing strategies for maintaining strong operating margins. Smith also highlights the company’s robust cash flows and balance sheet, which enable ongoing capital returns to shareholders through share repurchases and quarterly dividend programs.

Disciplined approach to M&A

Boyd Gaming has established a significant presence in the US online gaming market through a strategic partnership with FanDuel, the leading US sportsbook by market share. The company holds a 5 percent equity stake in the platform and expects the online segment to generate $60-65 million in EBITDAR for the year.

Boyd’s Interactive business, a subsidiary offering both B2B and B2C iGaming services, strengthened its capabilities in 2022 following the $170 million acquisition of Pala Interactive from the Pala Band of Mission Indians.

Analysts at JMP Securities noted negative trends across several areas of the Las Vegas market in Q2, including a decline in downtown visitation and spending in the locals market. While they anticipate that tough comparables will ease in mid-2024, they also acknowledge that competitive pressure is impacting results.

Despite these challenges, the company remains committed to investment, with CFO Josh Hirsberg emphasizing a disciplined approach to M&A. Hirsberg also reaffirmed the company’s commitment to business investment as a prudent use of capital.

JMP highlighted that Boyd’s growth budget doubled to $200 million in 2024, which could potentially spur growth in 2025. This follows three consecutive years of EBITDAR declines. Despite these challenges, JMP reiterated its Market Perform rating for the stock following the Q1 2024 results.

As of the report, Boyd Gaming Corporation (BYD) is trading at $53.18, marking a 15.44 percent decrease.
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