Boyd Gaming Corporation

Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. and many more. Thank you. Thank you for watching. Good afternoon, and welcome to the Boyd Gaming Second Quarter 2026 Earnings Conference Call. This is David Strow, Vice President of Corporate Communications for Boyd Gaming. I will be the moderator for today's call, which we are hosting on Thursday, July 23, 2026. At this time, all lines are in listen-only mode. Following our remarks, we will conduct question-and-answer sessions. If at any time during this call you require immediate assistance, please press star then zero for the operator. Our speakers for today's call are Keith Smith, President and Chief Executive Officer, and Josh Hirsberg, Chief Financial Officer. Our comments today will include statements that are forward-looking statements within the meaning of 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. Complete reconciliation of historical non-GAAP to GAAP financial measures Please refer to our earnings press release and our form 8K, furnished to the FCC today, 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. We'll 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?

Thanks, David. Good afternoon, everyone. Our second quarter results reflect the continued benefits of our diversified business model, success of our ongoing capital investment program, and broad-based growth and play across our customer segments. On a company-wide basis, revenues increased 3% and EBITDA grew 2% for the quarter when adjusting for the impact of last year's FanDuel transaction and the tax pass-through amounts related to our market access agreements. This performance was led by strong growth across our Midwest and South segment, solid contributions from Boyd Interactive, and increased management fees from Sky River. We also maintain operating efficiencies throughout the business, delivering property operating margins 40%. Thank you for joining us.

and our local customer.