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We operate FanDuel-branded sportsbooks at 16 of our properties.
−Removed: We also offer online sports-betting under the FanDuel brand in all states that our 28 gaming entertainment properties are located, except in Mississippi and Missouri where online sports-betting has not been legalized and in Nevada where we operate our own brand, Boyd Sports.
+Added: We also offer online sports-betting under the FanDuel brand in all states that our 28 gaming entertainment properties are located, except in Mississippi where online sports-betting has not been legalized, Missouri where online sports-betting was legalized in November 2024 but has not yet taken effect as regulations are being established, and in Nevada where we operate our own brand, Boyd Sports.
In addition, we have market access agreements outside of Nevada with other third parties for online sports-betting.
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we have used our increased free cash flow to strengthen our balance sheet, invest in our properties and return capital to shareholders;
−Removed: we have the ability to expand certain existing properties and to act opportunistically to make strategic acquisitions.
−Removed: We view each of our 28 gaming entertainment properties as an operating segment.
−Removed: For financial reporting purposes, we aggregate these properties into four reportable segments:
+Added: we have the ability to expand certain existing properties, develop new properties and to act opportunistically to make strategic acquisitions.
+Added: We view each of our 28 gaming entertainment properties and our online gaming operations as an operating segment.
+Added: For financial reporting purposes, we aggregate these operations into four reportable segments:
(i) Las Vegas Locals;
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To reconcile Reportable Segments information to the consolidated information, the Company has aggregated nonreportable operating segments into a Managed & Other category.
−Removed: The Managed & Other category includes management fees earned under our management agreement with Wilton Rancheria and the operating results of Lattner Entertainment Group Illinois, LLC, our Illinois distributed gaming operator ("Lattner") with approximately 880 gaming units in approximately 160 locations across the state of Illinois as of December 31, 2023.
+Added: The Managed & Other category includes management fees earned under our management agreement with Wilton Rancheria and the operating results of Lattner Entertainment Group Illinois, LLC, our Illinois distributed gaming operator ("Lattner") with 921 gaming units in 164 locations across the state of Illinois as of December 31, 2024.
For financial information related to our segments as of and for the three years in the period ended December 31, 2024, see Note 14, Segment Information, to our consolidated financial statements presented in Part II, Item 8 .
−Removed: As of December 31, 2023, we operate 27 of our 28 wholly owned gaming entertainment properties (as our Eastside Cannery property has remained closed since March 18, 2020 due to the current levels of demand in the market) offering a total of 1,711,201 square feet of casino space, 28,917 slot machines, 617 table games and 10,405 hotel rooms.
+Added: As of December 31, 2024, we operated 27 of our 28 wholly owned gaming entertainment properties (as our Eastside Cannery property has remained closed since March 18, 2020 due to the current levels of demand in the market) offering a total of 1,764,063 square feet of casino space, 28,102 slot machines, 616 table games and 10,481 hotel rooms.
We derive the majority of our revenues from gaming at our gaming entertainment properties and Lattner, which generated approximately 66% and 70% of our revenues in 2024 and 2023, respectively.
−Removed: Online revenues from Boyd Interactive and third-party access arrangements, including reimbursements received from our third-party operators for gaming taxes and other expenses we pay under the collaborative arrangements, represent our next most significant revenue source, generating 11% and 7% of our revenues in 2023 and 2022, respectively.
+Added: Online revenues from Boyd Interactive and third-party market access arrangements, including reimbursements received from our third-party operators for gaming taxes and other expenses we pay u nder the collaborative arrangements, represent our next most significant revenue source, generating 15% and 11% of our revenues in 2024 and 2023 , respectively.
Food & beverage revenues, room revenues, management fee revenues and other revenues separately contributed 8% or less of revenues in each of 2024 and 2023 .
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●●● Property is subject to a master lease agreement with a real estate investment trust.
−Removed: We also own a travel agency and a captive insurance company that underwrites travel-related insurance, each located in Hawaii.
−Removed: Financial results for these operations are included in our Downtown Las Vegas segment, as our Downtown Las Vegas properties focus marketing efforts on gaming customers from Hawaii.
+Added: We also own a travel agency in Hawaii.
+Added: Financial results for the travel agency are included in our Downtown Las Vegas segment, as our Downtown Las Vegas properties focus marketing efforts on gaming customers from Hawaii.
Las Vegas Locals Properties
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Our Las Vegas Locals segment competes directly with other locals casinos and gaming companies, some of which operate larger casinos and offer different promotions than ours.
+Added: The target markets for our Las Vegas Locals segment consists primarily of local residents and visitors to the Las Vegas area.
Gold Coast Hotel and Casino
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Its location offers easy access from the entire Las Vegas Valley.
−Removed: The primary target market for Gold Coast consists of local customers who actively gamble.
−Removed: Gold Coast's amenities include 712 hotel rooms and suites along with meeting facilities, multiple restaurant options and a 70-lane bowling center.
+Added: Gold Coast's amenities include 705 recently remodeled hotel rooms and suites along with meeting facilities, multiple restaurant options and a 70-lane bowling center.
The Orleans Hotel and Casino
The Orleans Hotel and Casino ("The Orleans") is located on Tropicana Avenue, a short distance from the Las Vegas Strip.
−Removed: The target markets for The Orleans are local residents and visitors to the Las Vegas area.
The Orleans provides a New Orleans French Quarter-themed environment.
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Sam's Town Hotel and Gambling Hall ("Sam's Town Las Vegas") is located on the Boulder Strip, approximately six miles east of the Las Vegas Strip, and features a contemporary western theme.
−Removed: Its informal, friendly atmosphere appeals to both local residents and out-of-town visitors alike.
Amenities at Sam's Town Las Vegas include 645 hotel rooms, a variety of restaurants and bars, 18 stadium-seating movie theaters, and a 56-lane bowling center.
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Suncoast Hotel and Casino ("Suncoast") is located in Peccole Ranch, a master-planned community adjacent to Summerlin, and is readily accessible from most major points in Las Vegas, including downtown and the Las Vegas Strip.
−Removed: The primary target market for Suncoast consists of local customers who gamble frequently.
−Removed: Suncoast features 427 hotel rooms, multiple restaurant options, banquet and meeting facilities, 16 stadium-seating movie theaters, a showroom, and a 64-lane bowling center.
+Added: Suncoast features 427 hotel rooms, multiple restaurant options, banquet and meeting facilities, 16 stadium-seating movie theaters, a 64-lane bowling center, and a newly remodeled sportsbook.
Eastside Cannery Casino and Hotel
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Aliante Casino + Hotel + Spa ("Aliante") is located in North Las Vegas adjacent to an 18-hole championship golf course and has convenient access to major freeways connecting it to points throughout Las Vegas.
−Removed: The primary target market for Aliante consists of local customers who gamble frequently.
Aliante features a full-service Scottsdale-modern, desert-inspired casino and resort, which includes 202 hotel rooms, multiple restaurant options, a 16-screen movie theater complex, showroom, spa, and a resort style pool with cabanas.
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Cannery Casino Hotel ("Cannery") is located in the northeastern part of the Las Vegas Valley and has convenient access to major freeways connecting it to points throughout Las Vegas.
−Removed: The primary target market for Cannery consists of local customers who gamble frequently.
The Cannery has a 200 -room hotel, a variety of restaurants and bars, an entertainment venue and a 16-screen movie theater.
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The principal customers of this property are Henderson residents.
+Added: We are in the process of building a new casino on the current Jokers Wild site.
+Added: The new casino will be Cadence Crossing and will replace the existing Jokers Wild casino upon opening.
+Added: Cadence Crossing will feature a 10,000 square foot casino, 450 slots and several restaurants, and is expected to open in mid-2026.
Downtown Las Vegas Properties
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Main Street Station Hotel and Casino
−Removed: Main Street Station's amenities include 406 hotel rooms and two restaurants.
+Added: Main Street Station's amenities include 406 recently remodeled hotel rooms and two restaurants.
In addition, Main Street Station features a 96-space recreational vehicle park, the only such facility in the downtown area.
Midwest & South Properties
−Removed: Our Midwest & South properties consist of four land-based casinos, six dockside riverboat casinos, three racinos and four barge-based casinos that operate in nine states predominantly in the midwest and southern United States.
+Added: Our Midwest & South properties consist of five land-based casinos, five dockside riverboat casinos, three racinos and four barge-based casinos that operate in nine states predominantly in the midwest and southern United States.
Generally, these states allow casino gaming on a limited basis through the issuance of a limited number of gaming licenses.
−Removed: Each of our Midwest & South properties primarily serve customers within a 100-mile radius and compete directly with other casino facilities operating in their respective immediate and surrounding market areas, as well as with gaming operations in surrounding jurisdictions.
+Added: Our Midwest & South properties primarily serve customers within a 100-mile radius and compete directly with other casino facilities operating in their respective immediate and surrounding market areas, as well as with gaming operations in surrounding jurisdictions.
Online sportsbooks are operated under the respective property gaming license of certain of our Midwest & South properties pursuant to collaborative arrangements with FanDuel or one of our other market access partners.
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Belterra Casino Resort
−Removed: Belterra Casino Resort ("Belterra Resort") is a dockside riverboat casino located in Florence, Indiana, approximately 50 minutes from downtown Cincinnati, Ohio, 70 minutes from Louisville, Kentucky, and 90 minutes from Lexington, Kentucky and features 662 hotel rooms, a FanDuel branded sportsbook and an 18-hole championship golf course.
−Removed: Belterra Resort is also approximately two and one-half hours from Indianapolis, Indiana.
+Added: Belterra Casino Resort ("Belterra Resort") is a dockside riverboat casino located in Florence, Indiana, approximately 50 miles from downtown Cincinnati, Ohio, 70 miles from Louisville, Kentucky, 60 miles from Lexington, Kentucky and 115 miles from Indianapolis, Indiana.
+Added: Belterra Resort features 608 hotel rooms, a FanDuel branded sportsbook and an 18-hole championship golf course.
The real estate utilized by Belterra Resort is subject to a Master Lease with Gaming and Leisure Properties, Inc.
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Blue Chip Casino Hotel Spa ("Blue Chip") is a dockside riverboat casino located in Michigan City, Indiana, which is 40 miles west of South Bend, Indiana and 60 miles east of Chicago, Illinois.
−Removed: The property competes primarily with five casinos in northern Indiana and southern Michigan and, to a lesser extent, with casinos in the Chicago area and racinos located near Indianapolis.
−Removed: The property features 486 guest rooms, a spa and fitness center, dining and nightlife venues, meeting and event space, including a land-based pavilion, and a FanDuel branded sportsbook.
+Added: The property competes primarily with six casinos in northern Indiana, southern Michigan and eastern Illinois and, to a lesser extent, with casinos in the Chicago area and racinos located near Indianapolis.
+Added: The property features 486 recently renovated guest rooms, a spa and fitness center, dining and nightlife venues, meeting and event space, including a land-based pavilion, and a FanDuel branded sportsbook.
Diamond Jo Casino
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Diamond Jo Worth is a land-based casino situated on a 32-acre site in Northwood, Iowa, which is located in north-central Iowa, near the Minnesota border and approximately 30 miles north of Mason City, Iowa.
−Removed: The casino has an event center, several dining options and a FanDuel branded sportsbook.
−Removed: A 102-room Country Inn & Suites hotel connected to the casino and a 60-room Holiday Inn Express hotel adjacent to the casino, are owned and operated by third parties.
+Added: The casino has a 102-room hotel, an event center, several dining options and a FanDuel branded sportsbook.
Kansas Star Casino
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Amelia Belle Casino
−Removed: The Amelia Belle Casino ("Amelia Belle") is located in south-central Louisiana and is a three-level riverboat with gaming, including a FanDuel branded sportsbook, located on the first two decks as well as a café on the first deck.
+Added: The Amelia Belle Casino ("Amelia Belle") is located in south-central Louisiana and is a three-level dockside riverboat with gaming, including a FanDuel branded sportsbook, located on the first two decks as well as a café on the first deck.
The property's third deck includes a banquet room.
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Treasure Chest Casino
−Removed: Treasure Chest Casino ("Treasure Chest") is a dockside riverboat casino that features a FanDuel branded sportsbook and is located on Lake Pontchartrain in the western suburbs of New Orleans, Louisiana.
−Removed: The portside building located adjacent to the riverboat houses two restaurants.
+Added: Treasure Chest Casino ("Treasure Chest") opened its new land-based casino facility in June 2024.
+Added: Prior to the opening of the land-based casino, the property was a dockside riverboat casino.
+Added: The casino is located near Lake Pontchartrain in the western suburbs of New Orleans, Louisiana.
Located approximately five miles from the New Orleans International Airport, Treasure Chest primarily serves residents of suburban New Orleans.
−Removed: A $100 million project is underway to construct a new land-based casino facility to replace the existing riverboat casino.
−Removed: The single-level facility will feature a 47,000-square-foot casino, several new restaurants and bars, nearly 10,000 square feet of convention and meeting space, a FanDuel branded sportsbook, and parking directly adjacent to the casino entrance.
−Removed: The project is expected to be complete by mid-year 2024.
+Added: The single-level facility features a 47,000-square-foot casino, several new restaurants and bars, nearly 10,000 square feet of convention and meeting space and a FanDuel branded sportsbook.
IP Casino Resort Spa
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Under the Stardust brand, we offer B2C online casino gaming in New Jersey, Pennsylvania and the Canadian province of Ontario.
−Removed: Beginning in January 2024, we also offer online social gaming via the Boyd Interactive platform in the United States and Ontario.
+Added: In January 2024, we began offering online social gaming via the Boyd Interactive platform in the United States and Ontario.
Our B2B customers in the United States and Canada license our platform for use in their online casino offerings.
+Added: On September 1, 2024, the Company completed the acquisition of Resorts Digital Gaming, LLC ("Resorts Digital"), growing the Boyd Interactive business.
+Added: Resorts Digital is an online casino operator based in New Jersey, operating a dual-brand strategy across Resorts Casino and Mohegan Sun.
+Added: In addition to acquiring the existing online business under both brands, the acquisition included a 20-year marketing agreement with a 10-year renewal option that provides for marketing and promotional services at Resorts Casino in Atlantic City, New Jersey.
Online Sports Betting
−Removed: Through our strategic partnership with FanDuel and other third-party market access partners, we offer online sports wagering in Illinois, Indiana, Iowa, Kansas, Lousisana, Ohio and Pennsylvania.
+Added: Through our strategic partnerships with FanDuel and other third-party market access partners, we offer online sports wagering in Illinois, Indiana, Iowa, Kansas, Louisiana, Ohio and Pennsylvania.
Management Agreement
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Sky River Casino has over 2,100 slot machines and 80 table games with 18 food and beverage options and live entertainment.
+Added: The Sky River Casino is currently expanding its amenities in two phases.
+Added: The first phase of the expansion will add 400 slots and a 1,600-space parking garage and is expected to be completed in the first quarter of 2026.
+Added: The second phase of the expansion will include a 300-room hotel, two additional food and beverage outlets, a day spa, and an entertainment and events center.
+Added: The second phase is expected to be completed in mid-2027.
Our properties generally operate in highly competitive environments.
−Removed: We compete against other gaming companies as well as other hospitality, entertainment and leisure companies.
+Added: We compete against other gaming companies as well as online gaming and other hospitality, entertainment and leisure companies.
We face significant competition in each of the jurisdictions in which we operate.
−Removed: Such competition may intensify in some of these jurisdictions if new gaming operations open in these markets or existing competitors expand their operations.
+Added: Such competition may intensify in some of these jurisdictions if new gaming operations open in these markets, including online gaming, or existing competitors expand their operations.
Our properties compete directly with other gaming properties in each state in which we operate, as well as in adjacent states.
−Removed: We also compete for customers with other casino operators in and around our markets, including Native American casinos, and other forms of gaming, such as lotteries and online gaming.
+Added: In addition, some of our properties compete with online gaming, to the extent it has been legalized, in and adjacent to the states we operate.
+Added: We also compete for customers with other casino operators in and around our markets, including Native American casinos, and other forms of gaming, such as lotteries.
In some instances, particularly with Native American casinos, our competitors pay substantially lower taxes or no taxes at all.
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We have also linked the BoydPay wallet to our Boyd Rewards mobile app, creating a contactless experience that allows customers to use their smartphones to play and cash out on casino games.
−Removed: The ability to use a smartphone to play is in the early stages of rollout and will be expanded further pending regulatory approval.
Other Promotional Activities
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The federal government of the United States has also previously considered a federal tax on casino revenues and the elimination of betting on National Collegiate Athletic Association events.
−Removed: With the recent expansion of sports wagering in various state jurisdictions, and online casinos on a more limited basis, a federal government may enact legislation taxing and regulating sports wagering and online casino wagering, or alternatively may elect to prohibit such wagering.
+Added: With the recent expansion of sports wagering in various states, and online casinos on a more limited basis, a federal government may enact legislation taxing and regulating sports wagering and online casino wagering, or alternatively may elect to prohibit such wagering.
In addition, gaming companies are currently subject to significant state and local taxes and fees in addition to normal federal and state corporate income taxes, and such taxes and fees are subject to increase at any time.
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Human Capital and Labor Relations
−Removed: As of December 31, 2023, we had 16,129 Team Members, including 15,308 Team Members at our properties and 821 Team Members in our corporate function.
−Removed: We have collective bargaining agreements with three unions covering 1,107 employees.
+Added: As of December 31, 2024, we had 16,129 employees ("Team Members"), including 15,362 Team Members at our properties and 767 Team Members in our corporate function.
+Added: We have collective bargaining agreements with six unions coverin g 1,090 employees.
Our Team Members are the most important contributors to our business.
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Our benefits include healthcare and retirement benefits, holiday and paid time off, and tuition assistance.
−Removed: Additionally, in 2023, we completed our efforts to increase the hourly minimum rate to $15 per hour for all non-tipped, non-represented positions.
We believe our business is differentiated from our competitors due to our commitment to customer service and delivering a customer experience that fosters long-term loyalty.
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The program provides our leaders with the tools and training to effectively communicate and coach their team to success.
−Removed: We are committed to the diversity, equity and inclusion of our workforce.
−Removed: Currently, 51% of our workforce are women and 53% are minority Team Members.
−Removed: As a Company, we work hard to promote and increase the diversity of our workforce.
−Removed: Our goals include attracting, retaining and growing individuals that reflect the diversity of the communities where we do business, developing policies and practices that help our Team Members realize their potential, and creating goodwill with our Team Members and customers.
−Removed: We seek feedback from our Team Members through an annual Team Member Opinion Survey to measure the culture and to improve our work environment for Team Members.
−Removed: The annual survey regularly achieves over 80% participation.
−Removed: Through our most recent annual Team Member Opinion Survey, 85% of Team Members reported high levels of satisfaction in regard to being treated with respect regardless of race, ethnicity, gender, age or any other aspect of team member identity.
−Removed: In January 2023, we received a five-star rating in Newsweek magazine's annual listing of America's Greatest Workplaces for Diversity.
−Removed: We are proud that we were the only gaming company to receive a perfect rating in this listing, which was compiled through anonymous employee surveys nationwide.
The Company has adopted a Code of Business Conduct that promotes ethical behavior and encourages Team Members to talk to supervisors, managers, or other appropriate personnel when in doubt about the best course of action.
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We have formal, annual goal setting and performance review processes to drive engagement, performance and retention.
−Removed: Our commitment to Team Member engagement is evidenced by our high average tenure of 8.6 years.
+Added: Our commitment to Team Member engagement is evidenced by our average Team Member service tenure of 8.5 years.
In our most recent survey, 77% of Team Members reported high levels of job satisfaction.
Corporate Social Responsibility ("CSR")
−Removed: We believe our focus on CSR issues is consistent with our values and an integral part of our success as a Company.
−Removed: Dating back to our Company’s founding nearly 50 years ago, we strive to share our success with others, treating every stakeholder of our Company with respect and integrity, and making sure that our home communities are better places because we are a part of them.
+Added: We believe our promotion of CSR initiatives is consistent with our values and an integral part of our success as a Company.
+Added: Dating back to our Company’s founding, we strive to share our success with others, treating every stakeholder of our Company with respect and integrity, and making sure that our home communities are better places because we are a part of them.
We strive to help protect the environment and meaningfully reduce our consumption of natural resources across our nationwide operations.
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We believe our long-term success is intertwined with healthy and vibrant communities.
−Removed: We look to invest in our communities, contributing millions of dollars each year to non-profit organizations across the United States.
+Added: We look to invest in our communities, providing donations each year to non-profit organizations across the United States.
When crises like pandemics or natural disasters strike our communities, we look for ways to support our neighbors and team members in need.
−Removed: We strive to be an employer of choice, and create a workplace environment that embraces diversity and inclusion, where Team Members of every background have the ability to realize their full potential and build a rewarding career with us.
−Removed: We have established the Boyd Gaming Diversity Council, as well as 17 property-level diversity committees across seven states.
−Removed: These committees are tasked with promoting diversity and inclusion across our workplaces nationwide, as well as the successful execution of our Company’s diversity goals.
−Removed: Our commitment to being an employer of choice has been recognized by Newsweek magazine, which awarded Boyd Gaming a perfect five-star rating in America’s Greatest Workplaces for Diversity in 2023.
−Removed: Boyd was also recognized by Newsweek as one of America's Greatest Workplaces for Women in 2023, as well as one of America’s Best Large Employers by Forbes magazine for 2023.
−Removed: Our commitment to diversity and inclusion extends beyond our workforce to our communities as we prioritize leveraging our supply chain to create opportunities for diverse and underrepresented businesses in our communities.
+Added: We strive to be an employer of choice and create a workplace environment that embraces all Team Members.
+Added: Our commitment to being an employer of choice has been recognized by US News & World Report, which named Boyd Gaming one of "America's Best Companies to Work For" in 2024.
+Added: Additionally, our Company's CSR initiatives were recognized by Newsweek magazine, which named us one of "America's Most Responsible Companies" in 2024.
We are committed to promoting responsible gaming throughout our operations and our marketing efforts, and to helping provide assistance to those who need help.
−Removed: We provide financial support to problem gambling and responsible gaming organizations across the country, require all employees to participate in annual responsible gaming awareness training and post prominent signage throughout our properties providing problem gambling helpline information.
−Removed: Additionally, we circulate communications throughout the year to Team Members regarding key responsible gaming practices.
+Added: We provide support to problem gambling and responsible gaming organizations across the country, require all employees to participate in annual responsible gaming awareness training and post prominent signage throughout our properties providing problem gambling helpline information.
We also ensure all advertising and marketing includes information on problem gambling and additional information is available to our customers at our properties.
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Corporate Information
−Removed: Boyd Gaming was incorporated in Nevada in June 1988.
−Removed: Our principal executive offices are located at 6465 South Rainbow Boulevard, Las Vegas, NV 89118, and our main telephone number is (702) 792-7200.
+Added: Boyd Gaming was founded in 1975 and incorporated in Nevada in June 1988.
+Added: Our principal executive offices are located at 6465 South Rainbow Boulevard, Las Vegas, Nevada 89118, and our main telephone number is (702) 792-7200.
Our website is www.boydgaming.com .
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You also may read and copy reports and other information filed by us at the office of the New York Stock Exchange, Inc., 20 Broad Street, New York, New York 10005.
−Removed: A copy of this Annual Report on Form 10-K will be provided to a stockholder, with exhibits, without charge upon written request to Boyd Gaming Corporation, 6465 South Rainbow Boulevard, Las Vegas, NV 89118, (702) 792-7200, Attn:
+Added: A copy of this Annual Report on Form 10-K will be provided to a stockholder, with exhibits, without charge upon written request to Boyd Gaming Corporation, 6465 South Rainbow Boulevard, Las Vegas, Nevada 89118, (702) 792-7200, Attn:
David Strow, Vice President, Corporate Communications.
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The following factors, along with the Risk Factors included in Part I, Item 1A of this Form 10-K, could affect future results and cause those results to differ materially from those expressed in the forward-looking statements:
−Removed: the general effect and expectation of the national and global economy on our business, including but not limited to interest rates and inflationary pressures, as well as the economies where each of our properties are located;
−Removed: the factors that contribute to our ongoing success and our ability to be successful in the future;
+Added: the general effect and expectation of the national and global economy on our business, including but not limited to interest rates and inflationary pressures, as well as the economies where our properties are located;
our business model, areas of focus and strategy for driving business results;
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impacts caused by public health emergencies and man-made or natural disasters we may encounter;
−Removed: competition, including expansion of gaming into additional markets including online gaming, the impact of competition on our operations, our ability to respond to such competition, and our expectations regarding continued competition in the markets in which we compete;
−Removed: our expectation regarding the trends that will affect the gaming industry over the next few years and the impact of these trends on growth of the gaming industry, future development opportunities and merger and acquisition activity in general;
−Removed: our intention to pursue expansion opportunities, including acquisitions, that are a good fit for our business, deliver a solid return for stockholders, and are available at the right price;
+Added: competition, including expansion of gaming into additional markets including online gaming, our ability to respond to such competition, and our expectations regarding continued competition in the markets in which we compete;
+Added: our expectations regarding the expansion of sports betting and online wagering;
+Added: our expectations regarding future trends affecting the gaming industry and the impact of these trends on growth in our industry, future development opportunities, and merger and acquisition activity in general;
our compliance with government regulations, including our ability to receive and maintain necessary approvals for our projects;
−Removed: that our credit agreement and our cash flows from operating activities will be sufficient to meet our respective projected operating and maintenance capital expenditures for the next twelve months;
+Added: the sufficiency of our cash flows from operating activities and financing sources to meet our projected operating and maintenance capital expenditures for the next twelve months;
indebtedness, including our ability to refinance or pay amounts outstanding under our credit agreement and our unsecured notes, when they become due and our compliance with related covenants, and our expectation that we will need to refinance all or a portion of our respective indebtedness at or before maturity;
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our estimates and expectations regarding anticipated taxes, tax credits or tax refunds;
−Removed: our expectations regarding the expansion of sports betting and online wagering;
our asset impairment analyses and our intangible asset and goodwill impairment tests;
the likelihood of interruptions to our rights in the land we lease under long-term leases for certain of our hotels and casinos.
−Removed: that estimates and assumptions made in the preparation of financial statements in conformity with U.S.
−Removed: Generally Accepted Accounting Principles ("GAAP") may differ from actual results;
−Removed: our estimates as to the effect of any changes in our Consolidated EBITDA on our ability to remain in compliance with certain covenants in the credit agreement.
All forward-looking statements should be evaluated with the understanding of their inherent uncertainty.
−Removed: All forward-looking statements in this Form 10-K (including any document incorporated by reference) are made only as of the date of the document in which they are contained, based on information available to us as of the date of that document, and we caution you not to place undue reliance on forward-looking statements in light of the risks and uncertainties associated with them.
+Added: All forward-looking statements in this Form 10-K (including any document incorporated by reference) are made only as of the date of the document in which they are contained, based on information available to us as of the date of that document, and we caution you not to place undue reliance on forward-looking statements in light of their associated risks and uncertainties.
Forward-looking statements are necessarily estimates reflecting the best judgment of our senior management and involve a number of risks and uncertainties, some of which may be beyond our control, which could cause actual results to differ materially from those suggested by the forward-looking statements.
If any of those risks and uncertainties were to materialize, actual results could differ materially from those discussed in any such forward-looking statement.
−Removed: Among the factors that could cause actual results to differ materially from those discussed in forward-looking statements are those discussed under the heading "Risk Factors" in this Annual Report on Form 10-K and in our other current and periodic reports filed from time to time with the SEC.
+Added: Among the factors that could cause actual results to differ materially from those discussed in forward-looking statements are those discussed under the heading "Risk Factors" in this Annual Report on Form 10-K and in our other current and periodic reports filed with the SEC from time to time.
In addition, historical, current, and forward-looking CSR-related statements may be based on standards for measuring progress that are still developing and internal controls and processes that continue to evolve.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.