Exhibit 99.1 BOYD GAMING REPORTS FOURTH-QUARTER, FULL-YEAR 2025 RESULTS LAS VEGAS - FEBRUARY 5, 2026 - Boyd Gaming Corporation (NYSE: BYD) today reported financial results for the fourth quarter and full year ended December 31, 2025. Keith Smith, President and Chief Executive Officer of Boyd Gaming, said: "Our Company delivered another successful performance in 2025, as we continued to position ourselves for growth and to deliver long-term value for our shareholders. For the full year, we achieved record re ...

Core Insights - Boyd Gaming Corporation reported record revenues for the full year 2025, driven by strong performance from core customers and operational discipline [2][4] - The company achieved a net income of $1.8 billion for 2025, significantly up from $578 million in 2024, largely due to a $1.4 billion after-tax gain from the sale of its equity interest in FanDuel [4][5] - Boyd Gaming plans to continue capital investments, including a $750 million resort in Virginia, and has returned over $800 million to shareholders through share repurchases and dividends in 2025 [2][4] Financial Performance - For Q4 2025, Boyd Gaming reported revenues of $1.1 billion, up from $1.0 billion in Q4 2024, with net income of $140.4 million or $1.79 per share [3][4] - Full-year revenues for 2025 reached $4.1 billion, an increase from $3.9 billion in 2024, while total adjusted EBITDAR was $1.4 billion, consistent with the previous year [4][5] - Adjusted earnings for Q4 2025 were $173.5 million or $2.21 per share, compared to $174.7 million or $1.96 per share in Q4 2024 [3][5] Operational Review - The Las Vegas Locals segment experienced growth in gaming revenues, although there was softness in destination business [6] - The Midwest & South segment benefited from strong customer play, despite being impacted by severe winter weather in December 2025 [6] - The online segment saw growth due to the online casino gaming business and changes in revenue-sharing agreements following the FanDuel transaction [7] Shareholder Returns - Boyd Gaming paid a quarterly cash dividend of $0.18 per share on January 15, 2026, and repurchased $185 million in shares during Q4 2025 [8] - As of December 31, 2025, the company had approximately $362 million remaining under its share repurchase authorization [8] Balance Sheet - As of December 31, 2025, Boyd Gaming had cash on hand of $353.4 million and total debt of $2.1 billion [9]

Core Insights - China's electric vehicle market is experiencing significant strain, with January sales indicating weaker domestic demand and heightened competition [1] Company Analysis - BYD, recognized as the largest electric vehicle manufacturer in China, is facing challenges due to the declining sales figures and increased competition within the market [1]

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Core Insights - Boyd Gaming Corporation (BYD) is set to report its fourth-quarter 2025 results on February 5, with earnings per share (EPS) expected at $1.88, reflecting a 4.1% decline from the previous year [1][2][8] - The Zacks Consensus Estimate for revenues is approximately $1.01 billion, indicating a 3.3% decrease year-over-year [2][8] Revenue Drivers - The anticipated revenue for Boyd Gaming's fourth quarter is likely supported by a strong core customer base and improving trends among retail players, which have continued from the third quarter into October [3] - Gaming volumes are expected to benefit from steady visitation across Las Vegas Locals and Midwest & South properties, aided by disciplined marketing and efficient operations [3] Performance Challenges - Despite the underlying strength in gaming play, revenues are projected to decline year-over-year primarily due to weakness in the destination business, particularly in hotel and related non-gaming activities [5] - Management has noted softness in destination visitation, which has negatively impacted hotel occupancy and ancillary spending, with the Orleans property being a significant drag on performance [5] Margin Pressures - Earnings pressure in the quarter is attributed to margin headwinds stemming from the same destination-related weaknesses, as hotel and convention business typically yield higher margins for Boyd [6] - Ongoing renovations and construction at properties like Suncoast and the Orleans have likely created operational inefficiencies, limiting capacity and profitability, despite management's efforts to control costs [6] Earnings Prediction - The current model does not predict an earnings beat for Boyd Gaming, with an Earnings ESP of -1.57% and a Zacks Rank of 3 (Hold) [7][9]

Core Viewpoint - The market anticipates a year-over-year decline in Boyd Gaming's earnings due to lower revenues, with the actual results being crucial for stock price movement [1][2]. Earnings Expectations - Boyd Gaming is expected to report quarterly earnings of $1.88 per share, reflecting a -4.1% change year-over-year, and revenues are projected at $1.01 billion, down 3.2% from the previous year [3]. Estimate Revisions - The consensus EPS estimate has been revised 1.73% higher in the last 30 days, indicating a reassessment by analysts [4]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that the Most Accurate Estimate for Boyd is lower than the consensus estimate, resulting in an Earnings ESP of -1.57%, indicating bearish sentiment among analysts [11]. Historical Performance - Boyd has beaten consensus EPS estimates in the last four quarters, with a notable surprise of +9.55% in the last reported quarter [12][13]. Investment Considerations - Despite the potential for an earnings beat, other factors may influence stock performance, making it essential to consider the Earnings ESP and Zacks Rank before making investment decisions [14][15].

Core Insights - The article highlights the expertise of a seasoned equity analyst specializing in the U.S. restaurant industry, covering various segments from quick-service to fine dining [1] - The analyst employs advanced financial modeling and sector-specific KPIs to identify hidden value in public equities, particularly focusing on micro and small-cap companies often overlooked by mainstream analysts [1] Industry Focus - The research firm, Goulart's Restaurant Stocks, is dedicated to thematic research and valuation efforts within the restaurant sector, indicating a strong emphasis on understanding market dynamics and consumer trends [1] - The analyst also covers related sectors such as consumer discretionary, food & beverage, and casinos & gaming, showcasing a broad understanding of interconnected industries [1] Academic and Professional Background - The analyst possesses an MBA in Controllership and Accounting Forensics, along with a Bachelor's in Business Administration, which provides a solid academic foundation for investment analysis [1] - Specialized training in valuation, financial modeling, and restaurant operations enhances the analyst's ability to conduct thorough research and provide valuable insights [1]

Core Insights - The article emphasizes the expertise of a seasoned equity analyst who specializes in the U.S. restaurant industry, covering various segments from quick-service to fine dining [1] - The analyst employs advanced financial modeling and sector-specific KPIs to identify hidden value in public equities, particularly focusing on micro and small-cap companies often overlooked by mainstream analysts [1] Industry Focus - The research firm, Goulart's Restaurant Stocks, is dedicated to the U.S. restaurant sector, which includes quick-service, fast casual, fine dining, and niche concepts [1] - The analyst also covers related sectors such as consumer discretionary, food & beverage, and casinos & gaming, indicating a broad understanding of the consumer market [1] Research Methodology - The analyst utilizes advanced financial modeling and strategic insights to conduct thematic research and valuation efforts [1] - A focus on sector-specific KPIs allows for a more nuanced understanding of the restaurant industry's dynamics and potential investment opportunities [1] Background and Expertise - The analyst has a strong academic foundation with an MBA in Controllership and Accounting Forensics, along with a Bachelor's in Business Administration [1] - Specialized training in valuation, financial modeling, and restaurant operations enhances the analyst's ability to provide in-depth insights into the industry [1]

Core Insights - The sin stock market consists of companies in sectors considered unethical or socially undesirable, including alcohol, tobacco, gambling, weapons, and cannabis [1] - Sin stocks are often excluded by institutional and ESG-focused investors, leading to lower valuations and higher dividend yields, which can present opportunities for return-focused investors [2] Investment Characteristics - Sin stocks generate stable cash flows due to consistent demand, making them attractive for investors seeking defensive exposure [3] - These companies often trade at lower valuation multiples compared to the broader market, while strong cash generation allows for above-average dividend yields [4] - Sin stock companies can pass on cost increases through price hikes due to high barriers to entry, protecting margins and supporting long-term profitability [5] - Sin stocks exhibit low correlation with economic cycles, providing useful portfolio diversification [6] Investor Mindset - Investors in sin stocks prioritize risk-adjusted returns, income stability, and diversification, weighing ethical concerns against financial objectives [7] Sector Trends - Alcohol companies like Diageo benefit from premiumization and steady global demand, while tobacco firms like Philip Morris are transitioning to reduced-risk products [9] - Gambling stocks are experiencing growth from online betting and digital gaming legalization, while weapons stocks are influenced by geopolitical tensions [10] Company Highlights - Boyd Gaming's appeal lies in its diversified gaming portfolio and disciplined capital allocation, with a focus on operational efficiency and customer loyalty [12] - Universal Corporation reported 3% revenue growth and an 18% increase in operating income in the first half of fiscal 2026, supported by strong demand dynamics [14] - Constellation Brands maintains a dominant position in the U.S. high-end beer market, with strategies that emphasize pricing discipline and cost-saving initiatives [16]

Group 1: Company Overview - Boyd Gaming (BYD) is part of the Consumer Discretionary group, which includes 261 companies and ranks 11 in the Zacks Sector Rank [2] - Boyd Gaming currently holds a Zacks Rank of 2 (Buy), indicating a favorable outlook based on earnings estimates and revisions [3] Group 2: Performance Analysis - Year-to-date, Boyd Gaming has returned approximately 2.6%, outperforming the Consumer Discretionary sector's average return of 1.3% [4] - In comparison to its industry, Boyd Gaming is slightly underperforming, as the Gaming industry has gained an average of 5.1% year-to-date [5] Group 3: Comparative Analysis - Another stock in the Consumer Discretionary sector, Central Garden (CENT), has a year-to-date return of 2.9% and also holds a Zacks Rank of 2 (Buy) [4][5] - Central Garden belongs to the Consumer Products - Discretionary industry, which has moved -2.1% year-to-date, indicating a contrasting performance compared to Boyd Gaming's sector [6]