New Jersey April Gaming Revenue Reaches $600 Million
The New Jersey Division of Gaming Enforcement announced April gaming revenue results. Total gaming revenue for casinos, racetracks, and their partners was $600.8M for April reflecting 12% growth when compared to $536.6M reported for April 2025. Year-to-date total gaming revenue was $2.3B through April, reflecting 8.6% growth when compared to $2.12B reported for the prior year-to-date period. Total gross revenue taxes were $86.1M for April and $332.1M for year-to-date through April. Casino win for the nine casino hotels was $235.6M for April, reflecting an increase of 11.7% when compared to $211M reported for April 2025. Internet gaming win for the casinos and their partners was $263.1M for April, reflecting growth of 11.9% when compared to $235.2M reported for April 2025. Sports wagering gross revenue for the casinos, racetracks, and their partners was $102.1M for April, reflecting an increase of 12.8% when compared to $90.5M reported for April 2025. Publicly traded companies in the space include Boyd Gaming (BYD), Caesars (CZR), Churchill Downs (CHDN), DraftKings (DKNG), Flutter Entertainment (FLUT), Gan Limited (GAN), Genius Sports (GENI), Las Vegas Sands (LVS), MGM Resorts (MGM), Penn Entertainment (PENN), Rush Street Interactive (RSI), Sportradar (SRAD) and Wynn Resorts (WYNN).
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- Political Warnings Intensify: Bipartisan lawmakers in the U.S. caution the White House against using the auto market as a bargaining chip with China, especially after Trump's remarks about welcoming Chinese automakers, which could politically jeopardize the 2026 midterm elections.
- Job Risks Highlighted: The potential entry of Chinese automakers into the U.S. market poses a threat to manufacturing jobs in auto-heavy states like Michigan and Ohio, with lawmakers emphasizing the severe impact on local communities, reflecting the tension between national security and economic interests.
- Legislative Action Accelerates: Representatives from Michigan have introduced a bill to restrict Chinese-made connected vehicles and software, citing national security and data privacy concerns, indicating a strong vigilance against Chinese automotive technology.
- Market Competition Pressure: U.S. consumers face rising car prices, with the average new car costing $49,461, while China offers over 200 electric models priced below $25,000, raising concerns among lawmakers about the competitive impact of Chinese brands' low-price strategies in the U.S. market.
- Long-Term Revenue Growth Disappoints: Boyd Gaming's annual sales growth rate of 12.7% over the past five years is acceptable in absolute terms but falls short of the consumer discretionary sector's standards, indicating potential long-term performance issues that could undermine investor confidence.
- Mediocre Free Cash Flow Margin: With an average free cash flow margin of 9.5% over the past two years, below industry expectations, Boyd Gaming has limited capacity to return capital to shareholders, raising concerns about its future growth prospects among investors.
- Declining Return on Invested Capital: The significant decline in Boyd Gaming's return on invested capital (ROIC) over recent years, coupled with its already low returns, suggests that the company faces few profitable growth opportunities, which may negatively impact its stock price.
- Reasonable Valuation but High Risk: Although Boyd Gaming trades at a forward P/E of 11.5 (or $85.25 per share), its shaky fundamentals present considerable downside risk, prompting a recommendation for investors to consider other stocks with greater potential.
- Accelerated AI Adoption: China's AI penetration rate is expected to exceed 70% in key industries by next year, enhancing domestic competitiveness and potentially reshaping the global tech landscape.
- Research Strengthening: Zhejiang University and Shanghai Jiao Tong University have surpassed Harvard in scientific performance rankings, indicating rapid advancements in China's research capabilities that will support further AI development.
- Public Attitude Discrepancy: With 50% of Americans wary of AI, compared to a lower acceptance rate in China, this difference may influence the willingness and strategies for cooperation in AI between the two countries.
- Risk of US-China AI Arms Race: Experts warn that if the two nations enter an AI arms race, it would be detrimental not only to them but also to the world, highlighting the importance of international collaboration.
- Quarterly Cash Dividend: Boyd Gaming Corporation's Board of Directors has declared a cash dividend of $0.20 per share, payable on July 15, 2026, aimed at rewarding shareholders and enhancing investor confidence.
- Shareholder Record Date: The dividend will be paid to shareholders of record as of June 15, 2026, ensuring timely returns for investors and further solidifying the company's relationship with its shareholders.
- Company Background: Founded in 1975, Boyd Gaming operates 27 gaming entertainment properties across 11 states, showcasing its extensive footprint and influence in the U.S. gaming market.
- Loyalty Program Advantage: The Boyd Rewards program is recognized as the nation's favorite casino loyalty program, enhancing customer retention and providing the company with ongoing revenue growth potential.

Stock Sale Announcement: Officer Mariann Boyd Johnson plans to sell 62,914 shares of Boyd Gaming's common stock on May 5, with an estimated market value of around $5.28 million.
Reduction in Shareholding: Since May 1, 2026, Mariann Boyd Johnson has reduced her shareholding in Boyd Gaming by 37,086 shares, valued at approximately $3.16 million.
- Sales Decline Continues: BYD delivered 314,100 new energy vehicles in April, reflecting a 15.7% year-over-year decline despite a 6.2% month-over-month increase, indicating pressure on market share amid intensifying domestic competition.
- Record Export Figures: The company achieved an all-time high of 135,098 units in exports for April, representing over a 70% increase compared to the previous year, underscoring its growing reliance on overseas markets as domestic competition intensifies.
- Significant Profit Drop: BYD reported a nearly 55.4% year-over-year decline in profits for the first quarter, with operating revenue falling 11.8% to 150 billion yuan ($22 billion), highlighting the profitability challenges faced in a competitive landscape.
- International Market Expansion: With plans to export over one million units in 2026, BYD accounted for 70% of EV sales in Mexico and 75% in Argentina in 2025, showcasing its strong growth potential in international markets.










