Boyd Gaming reported higher year-over-year third-quarter revenue and earnings during a call Thursday with Wall Street analysts.

Third-quarter revenue of $961.2 million was up from $903.2 million in the third quarter of 2023. Total adjusted EBITDAR was $336.6 million in the third quarter, increasing from $320.8 million in the previous third quarter. Adjusted Earnings for the third quarter were $139.3 million, or $1.52 per share, compared to $137.3 million, or $1.36 per share.

The company reported net income of $131.1 million, or $1.43 per share, for the third quarter compared to $135.2 million, or $1.34 per share, for the year-ago period.

“Our company continued to produce solid results in the third quarter, as underlying customer trends remained stable,” said Keith Smith, president and CEO. “During the quarter, we realized the benefits of our recent investments in our downtown Las Vegas and Midwest and South segments. These investments produced strong returns, driving revenue and adjusted EBITDAR gains in both segments.”

Boyd also benefited from excellent performance in both their online and managed businesses, demonstrating what Smith called the “value of their diversified business model.”

“We strengthened our growth pipeline, securing an opportunity to develop a casino resort in Norfolk, Virginia, while continuing work on property enhancements nationwide,” Smith said. “And we continued our commitment to returning capital to shareholders, repurchasing more than $200 million in shares during the quarter. In all, we are pleased with the ongoing performance of our business and remain focused on enhancing shareholder value.”

Results in the Las Vegas locals segment were impacted by continued competitive pressures at the Orleans and Gold Coast, while the balance of the company’s Las Vegas locals properties performed in line with the broader same-store market, Smith said.

The company’s downtown Las Vegas segment delivered another quarter of strong results, driven by recent property investments and growing Hawaiian visitation, Smith said. The Midwest and South segment results benefited from a record third-quarter performance at Treasure Chest Casino in Louisiana following the opening of its new land-based facility in June, as well as stable same-store performance across the remaining properties in the segment.

The company’s online segment produced strong revenue and adjusted EBITDAR growth during the third quarter, reflecting increased contributions and one-time benefits from the company’s market-access agreements nationwide. Managed and other’s performance reflected continued strength at Sky River Casino in northern California, Smith said.

Boyd Gaming paid a quarterly cash dividend of $0.17 per share on October 15.

As of September 30, the company had approximately $343 million remaining under the current share-repurchase authorization.