Boyd Gaming Corporation (NYSE:BYD) Q3 2023 Earnings Conference Call October 24, 2023 5:00 PM ET
Company Participants
David Strow – Vice President-Corporate Communications
Keith Smith – President and Chief Executive Officer
Josh Hirsberg – Executive Vice President and Chief Financial Officer
Conference Call Participants
Joe Greff – JPMorgan
Steve Wieczynski – Stifel
Barry Jonas – Truist Securities
Carlo Santarelli – Deutsche Bank
David Katz – Jefferies
Shaun Kelley – Bank of America
Brandt Montour – Barclays
John DeCree – CBRE
Dan Politzer – Wells Fargo
Stephen Grambling – Morgan Stanley
Chad Beynon – Macquarie
David Strow
Good afternoon and welcome to the Boyd Gaming Third Quarter 2023 Conference Call. My name is David Strow, Vice President of Corporate Communications for Boyd Gaming. I will be the moderator for today's call, which is being recorded on Tuesday October 24, 2023. At this time all lines are in a listen-only mode. Following our remarks, we will conduct a question-and-answer session. [Operator Instructions] Our speakers for today's call are Keith Smith, President and Chief Executive Officer; and Josh Hirsberg, Executive Vice President and Chief Financial Officer.
Our comments today will include statements that are forward-looking statements within the Private Securities Litigation Reform Act. All forward-looking statements in our comments are as of today's date, and we undertake no obligation to update or revise the forward-looking statements. Actual results may differ materially from those projected in any forward-looking statement. There are certain risks and uncertainties, including those disclosed in our filings with the SEC that may impact our results. During our call today, we will make reference to non-GAAP financial measures.
For a complete reconciliation of historical non-GAAP to GAAP financial measures, please refer to our earnings press release and our Form 8-K furnished to the SEC today and both of which are available at investors.boydgaming.com. We do not provide a reconciliation of forward-looking non-GAAP financial measures due to our inability to project special charges and certain expenses. Today's call is being webcast live at boydgaming.com and will be available for replay in the Investor Relations section of our website shortly after the completion of this call.
So with that, I would now like to turn the call over to Keith Smith. Keith?
Keith Smith
Thanks, David, and good afternoon, everyone. Our results for the third quarter reflect the value of our strategic focus on our core customers, the benefits of our growth initiatives, and our diversified business model. For the quarter, company-wide revenues grew 3% to $903 million. During the quarter, we continue to see growth in play from our core customers, increasing 1%. This is on top of last year's strong growth of 5% from this segment. This increase in play from our core customer segment was offset by a 4% year-over-year decline in retail play during the quarter. Importantly, total play from our retail customer segment has remained at consistent levels since late last year, reflecting a stable retail consumer.