American regional gambling giant Boyd Gaming Corporation announced that its new casino "Cadence Crossing" located in Henderson, Nevada, will open in late March 2026. This will be the company's first new casino in over twenty years, replacing the existing Jokers Wild Casino. The 50,000 square foot complex will include a 10,000 square foot casino floor, adding 450 slot machines and several dining venues to the local area. This move comes as Boyd Gaming announced its record $4.09 billion revenue for 2025, despite a decline in net income in the fourth quarter, CEO Keith Smith expresses strong confidence in the future, particularly in online operations and significant national investments.
New Casino Details: A Localized Strategy Betting on Community Growth
The location and design of Cadence Crossing Casino deeply reflect Boyd Gaming's strategy of deep local market cultivation. Its target audience directly points to the rapidly developing Cadence community—which sold over 1200 homes in 2025, making it one of the fastest-growing planned communities in the US.
Project Scale: Total facility area 50,000 square feet, of which the casino area is 10,000 square feet.
Core Facilities: Plans to equip 450 slot machines, along with several yet-to-be-announced dining spots.
Long-term Planning: Future plans include expanding the hotel section, in sync with community development.
Smith believes that strong local market demand is the driving factor for the success of this project. Although specific investment amounts have not been disclosed, this project is part of Boyd Gaming's national $100 million capital improvement plan. As PASA's official website pointed out in its analysis of the US gambling market, tying to large planned communities has become an important mode for regional operators to secure a stable customer base.
Financial Performance and Challenges: Revenue Creation Under Short-term Pressure
While announcing the new project, Boyd Gaming also released its Q4 and annual performance for 2025:
Annual Highlights: Total revenue reached a record $4.09 billion in 2025.
Quarterly Pressure: Q4 net income was $138.8 million, down from $170.5 million in the same period last year; earnings per share also slightly dropped from $1.92 to $1.79.
The CEO attributed the quarterly decline to severe winter weather and the closure of Sam's Town Tunica Casino in November 2025 among other external factors. He specifically noted that despite the overall weakness in the tourism industry, the company's gaming revenue in the Nevada local market still achieved growth, demonstrating the resilience of its core business.
Future Growth Engines: Online Operations and National Expansion
Looking ahead, Boyd Gaming's strategy is clear and ambitious, with growth points not limited to physical casinos:
Online Business (Boyd Interactive): Highly anticipated, expected to be a significant contributor to revenue in 2026. Especially its involvement in the Sky River Casino expansion project in Northern California, expected to generate $110 million to $114 million in EBITDAR next year.
National Physical Expansion:
Illinois: Plans to invest $160 million to relocate the Par-A-Dice Casino to a permanent mooring barge on the Illinois River to enhance its appeal, with construction expected to start in 2027.
Virginia: In collaboration with the Pamunkey Indian Tribe, investing $750 million to build the Norfolk waterfront casino resort, planning 200 rooms, 8 restaurants, and 1500 slot machines, expected to open by the end of 2027.
Smith is optimistic about 2026, believing that the company's operations in Nevada and the Midwest will benefit from the continued consumer spending brought about by tax legislation passed in 2025. Boyd Gaming is building a diverse and sustainable growth path through a combination of "deep local cultivation of physical locations + expansion of online operations + strategic national investments".
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