Boyd Gaming Management

Management criteria checks 3/4

Boyd Gaming's CEO is Keith Smith, appointed in Apr 2005, has a tenure of 19.08 years. total yearly compensation is $11.41M, comprised of 13.6% salary and 86.4% bonuses, including company stock and options. directly owns 1.06% of the company’s shares, worth €50.76M. The average tenure of the management team and the board of directors is 6.5 years and 15 years respectively.

Key information

Keith Smith

Chief executive officer

US$11.4m

Total compensation

CEO salary percentage	13.6%
CEO tenure	19.1yrs
CEO ownership	1.1%
Management average tenure	6.5yrs
Board average tenure	15yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Keith Smith's remuneration changed compared to Boyd Gaming's earnings?
Date	Total Compensation	Salary	Company Earnings
Mar 31 2024	n/a	n/a	US$557m
Dec 31 2023	US$11m	US$2m	US$620m
Sep 30 2023	n/a	n/a	US$700m
Jun 30 2023	n/a	n/a	US$722m
Mar 31 2023	n/a	n/a	US$676m
Dec 31 2022	US$10m	US$2m	US$639m
Sep 30 2022	n/a	n/a	US$576m
Jun 30 2022	n/a	n/a	US$558m
Mar 31 2022	n/a	n/a	US$525m
Dec 31 2021	US$15m	US$1m	US$464m
Sep 30 2021	n/a	n/a	US$437m
Jun 30 2021	n/a	n/a	US$337m
Mar 31 2021	n/a	n/a	US$115m
Dec 31 2020	US$3m	US$1m	-US$135m
Sep 30 2020	n/a	n/a	-US$194m
Jun 30 2020	n/a	n/a	-US$192m
Mar 31 2020	n/a	n/a	-US$35m
Dec 31 2019	US$10m	US$1m	US$158m
Sep 30 2019	n/a	n/a	US$156m
Jun 30 2019	n/a	n/a	US$129m
Mar 31 2019	n/a	n/a	US$119m
Dec 31 2018	US$8m	US$1m	US$115m
Sep 30 2018	n/a	n/a	US$174m
Jun 30 2018	n/a	n/a	US$185m
Mar 31 2018	n/a	n/a	US$174m
Dec 31 2017	US$9m	US$1m	US$168m

Compensation vs Market: Keith's total compensation ($USD11.41M) is above average for companies of similar size in the German market ($USD3.34M).

Compensation vs Earnings: Keith's compensation has been consistent with company performance over the past year.

CEO

Keith Smith (62 yo)

19.1yrs

Tenure

US$11,410,646

Compensation

Mr. Keith E. Smith serves as Independent Director at SkyWest, Inc. since October 1, 2013. He serves as the President of Coast Casinos, Inc. Mr. Smith is Chief Executive Officer and President at Boyd Gaming...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Keith Smith	President	19.1yrs	US$11.41m	1.06% $ 50.8m
Josh Hirsberg	CFO & Treasurer	16.3yrs	US$4.22m	0.34% $ 16.1m
Theodore Bogich	Chief Operating Officer	less than a year	US$3.30m	0.032% $ 1.5m
Stephen Thompson	Chief Administrative Officer	less than a year	US$3.30m	0.041% $ 2.0m
Uri Clinton	Executive VP	3.2yrs	US$2.57m	0.00035% $ 16.8k
Marianne Johnson	Executive Chairman	33.7yrs	no data	11.96% $ 574.5m
Lori Nelson	Senior VP of Financial Operations & Reporting and Chief Accounting Officer	2.2yrs	no data	0.012% $ 567.0k
David Strow	Vice President of Corporate Communications	no data	no data	no data
Christopher Gibase	Chief Marketing Officer & Senior VP	9.8yrs	no data	no data
William Boyd	VP & Director	33.4yrs	no data	1.73% $ 83.2m
Steve Schutte	Executive Vice President of Operations	9.8yrs	no data	no data
Ward Shaw	Executive Vice President of Operations	less than a year	no data	no data

6.5yrs

Average Tenure

62.5yo

Average Age

Experienced Management: BO5's management team is seasoned and experienced (6.5 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Keith Smith	President	19.1yrs	US$11.41m	1.06% $ 50.8m
Marianne Johnson	Executive Chairman	33.7yrs	no data	11.96% $ 574.5m
William Boyd	VP & Director	31.7yrs	no data	1.73% $ 83.2m
A. Thoman	Independent Director	4.7yrs	US$335.03k	0.0075% $ 359.6k
William Boyd	Chairman Emeritus	less than a year	US$3.20m	9.02% $ 433.2m
Paul Whetsell	Independent Director	9.3yrs	US$325.03k	0.017% $ 828.7k
Peter Thomas	Independent Presiding Director	20.1yrs	US$385.03k	0.023% $ 1.1m
John Bailey	Independent Director	9.3yrs	US$325.03k	0.022% $ 1.1m
Christine Spadafor	Independent Director	15yrs	US$340.03k	0.0075% $ 358.7k

15.0yrs

Average Tenure

67yo

Average Age

Experienced Board: BO5's board of directors are seasoned and experienced ( 15 years average tenure).

Boyd Gaming Management

Management criteria checks 3/4

Key information

Recent management updates

Boyd Gaming Corporation, Annual General Meeting, May 09, 2024

President recently sold €5.9m worth of stock

Executive Chairman recently sold €6.0m worth of stock

Boyd Gaming Corporation Announces Executive Changes

Executive Chairman recently sold €6.1m worth of stock

Executive Vice President of Operations recently sold €1.0m worth of stock

Recent updates

First quarter 2024 earnings released: EPS: US$1.40 (vs US$1.93 in 1Q 2023)

Boyd Gaming Corporation to Report Q1, 2024 Results on Apr 25, 2024

Boyd Gaming Corporation, Annual General Meeting, May 09, 2024

Upcoming dividend of US$0.17 per share

President recently sold €5.9m worth of stock

Fourth quarter dividend of US$0.17 announced

Boyd Gaming Corporation Announces Quarterly Dividend, Payable on April 15, 2024

Boyd Gaming Corporation Announces Quarterly Dividend, Payable on April 15, 2024

Executive Chairman recently sold €6.0m worth of stock

Full year 2023 earnings released: EPS: US$6.12 (vs US$5.87 in FY 2022)

Boyd Gaming Corporation to Report Q4, 2023 Results on Feb 08, 2024

Boyd Gaming Corporation Announces Executive Changes

Upcoming dividend of US$0.16 per share at 1.0% yield

Boyd Gaming Corporation Announces Quarterly Dividend, Payable on January 15, 2024

Third quarter 2023 earnings released: EPS: US$1.34 (vs US$1.46 in 3Q 2022)

Boyd Gaming Corporation to Report Q3, 2023 Results on Oct 24, 2023

Upcoming dividend of US$0.16 per share at 1.0% yield

Boyd Gaming Corporation Announces Quarterly Dividend, Payable on October 15, 2023

New major risk - Revenue and earnings growth

Executive Chairman recently sold €6.1m worth of stock

Executive Vice President of Operations recently sold €1.0m worth of stock

Second quarter 2023 earnings released: EPS: US$1.89 (vs US$1.33 in 2Q 2022)

Now 20% undervalued

Boyd Gaming Corporation to Report Q2, 2023 Results on Jul 27, 2023

Upcoming dividend of US$0.16 per share at 0.9% yield

Boyd Gaming Corporation (NYSE:BYD) announces an Equity Buyback for $500 million worth of its shares.

First quarter 2023 earnings released: EPS: US$1.93 (vs US$1.45 in 1Q 2022)

Upcoming dividend of US$0.16 per share at 0.9% yield

President recently sold €6.1m worth of stock

Boyd Gaming Corporation Appoints Lori M. Nelson as Principal Accounting Officer

Boyd Gaming Increases Quarterly Dividend, Payable April 15, 2023

Co-Executive Chair of the Board recently sold €3.0m worth of stock

Full year 2022 earnings released: EPS: US$5.87 (vs US$4.07 in FY 2021)

Boyd Gaming Corporation to Report Fiscal Year 2022 Results on Feb 02, 2023

Executive Vice President of Operations recently sold €467k worth of stock

Boyd Gaming Corporation Declares Quarterly Cash Dividend, Payable on January 15, 2023

VP & Director recently sold €5.7m worth of stock

Insufficient new directors

Co-Executive Chair of the Board recently sold €5.9m worth of stock

Third quarter 2022 earnings released: EPS: US$1.46 (vs US$1.21 in 3Q 2021)

Boyd Gaming Corporation to Report Q3, 2022 Results on Oct 25, 2022

Upcoming dividend of US$0.15 per share

Boyd Gaming Corporation Declares Quarterly Cash Dividend, Payable October 15, 2022

Second quarter 2022 earnings released: EPS: US$1.33 (vs US$1.00 in 2Q 2021)

Boyd Gaming Corporation to Report Q2, 2022 Results on Jul 26, 2022

Upcoming dividend of US$0.15 per share

VP & Director recently sold €3.9m worth of stock

Boyd Gaming Corporation Declares Quarterly Cash Dividend, Payable July 15, 2022

Co-Executive Chair of the Board recently sold €5.2m worth of stock

VP & Director recently sold €1.0m worth of stock

Executive Vice President of Operations recently sold €1.1m worth of stock

First quarter 2022 earnings released: EPS: US$1.45 (vs US$0.90 in 1Q 2021)

Insufficient new directors

Boyd Gaming Corporation to Report Q1, 2022 Results on Apr 26, 2022

Independent Director recently sold €71k worth of stock

Upcoming dividend of US$0.15 per share

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Investor sentiment improved over the past week

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Insufficient new directors

VP & Director recently sold €875k worth of stock

Third quarter 2021 earnings released: EPS US$1.21 (vs US$0.34 in 3Q 2020)

VP & Director recently sold €721k worth of stock

Second quarter 2021 earnings released: EPS US$1.00 (vs US$0.96 loss in 2Q 2020)

Independent Director Robert Boughner has left the company

Boyd Gaming Corporation(NYSE:BYD) dropped from Russell 2000 Dynamic Index

VP & Director recently sold €1.7m worth of stock

First quarter 2021 earnings released: EPS US$0.90 (vs US$1.30 loss in 1Q 2020)

Executive VP recently sold €2.0m worth of stock