Diamond Jo parent company returns to profitability in 3rd quarter

The parent company of Dubuque’s Diamond Jo Casino returned to profitability in the third quarter but still fell short of figures from the previous year.

Boyd Gaming on Monday reported total revenues of $652 million in the quarter ending Sept. 30, a decrease of 20.4% compared to the same three-month period in 2019. Through the first nine months of 2020, the company had revenues of $1.54 billion, compared to $2.49 billion during the same stretch the previous year. Many of the company’s properties have had extended closures due to the COVID-19 pandemic, which has impacted revenues even when facilities have been open.

In the third quarter, Boyd reported net income of $38.1 million, which fell 3.3% short of last year’s third-quarter results. Results from the third quarter represent a massive improvement over figures from the prior three months, during which Boyd Gaming reported net losses of more than $108 million.

The company cited sports gambling as a catalyst for growth in the most recent quarter, noting that multiple Boyd properties recently launched mobile sports betting apps through a partnership with FanDuel Group.