LAS VEGAS, July 30 -- In the second quarter, Boyd Gaming's customers in the Midwest came to gamble. Its customers in Las Vegas did not.

That geographic divergence, with regional gamblers staying local while destination visitors pulled back, defined the company's April-to-June period and set the terms of a results announcement that was both better and worse than the one Wall Street expected. Adjusted earnings per share of $1.93 beat the consensus estimate of $1.89 by two percent. Revenue of $1.034 billion, flat against a year earlier, landed where analysts projected. Net income fell to $131.2 million from $151.5 million, and property-level adjusted EBITDAR in the Las Vegas Locals segment dropped $6.3 million as the company absorbed weaken...