Boyd Gaming’s Orleans Hotel and Casino has become a key indicator of the company’s financial performance as Las Vegas faces a softening tourism market. “It’s not surprising, given the softness on the Strip,” Smith told The Nevada Independent following the company’s second-quarter earnings conference call. “It ebbs and it flows. When the Strip is off, the Orleans tends to feel the impact. When the Strip is strong, the Orleans benefits.”
Despite a 6.5% drop in Las Vegas visitation in June 2025, the Orleans has built a strong local customer base that continues to buoy performance. CEO Keith Smith emphasized that while tourism at the Orleans has declined, the property is performing comparably — or better — than the broader Strip market due to its local appeal.
Boyd Gaming reported a 7% increase in second-quarter revenue, surpassing $1 billion. However, the company’s downtown Las Vegas properties saw a revenue decrease of more than 4%.
As part of a $100 million redevelopment strategy, Boyd is remodeling rooms at the Orleans and making enhancements at its Pennsylvania resort. The company also confirmed it will not reopen the Eastside Cannery, which has been closed since March 2020. Boyd acquired the land earlier this year for $45 million.
Separately, the Golden Nugget Las Vegas signed a five-year labor agreement with its engineers, including a 20% wage increase and new benefits, concluding a decade of union representation efforts.
In related industry news, Bally’s Corp. is moving forward with plans for a new resort near the $1.75 billion ballpark being developed for the Oakland Athletics on the Strip. Gaming and Leisure Properties may provide additional financial support for the project.
Former Deutsche Bank gaming analyst Carlo Santarelli has joined Gaming and Leisure Properties to lead investor relations and corporate strategy, bringing deep market insight to one of the industry’s major real estate investment trusts.
