Major gaming corporation, Boyd Gaming, has cemented its position in the digital gaming sphere by completing a $170 million purchase of Pala Interactive. This calculated maneuver, revealed earlier this year, grants Boyd Gaming control of Pala Interactive and its affiliated entities.
Boyd Gaming’s Chief Executive Officer, Keith Smith, conveyed his excitement, noting that this acquisition furnishes the technology, offerings, and knowledge base necessary to establish a lucrative regional internet gaming enterprise. He highlighted the significance of online gaming as a crucial expansion avenue for the company.
This action corresponds with Boyd Gaming’s wider plan to supplement its current land-based casinos and draw a broader clientele throughout the United States. The company views internet gaming as a logical progression of its physical operations.
The acquisition announcement follows Boyd Gaming’s robust third-quarter earnings statement, which demonstrated a 4% year-over-year revenue surge, hitting $877 million. This favorable financial showing further emphasizes Boyd Gaming’s strategic growth within the gaming sector.
In additional recent developments, Boyd Gaming teamed up with FanDuel in August, establishing FanDuel as the official sports wagering partner of Boyd’s Fremont Hotel Casino. This collaboration, combined with the Pala Interactive acquisition, underscores Boyd Gaming’s assertive strategy to secure a substantial portion of both the online and physical gambling markets.
Boyd Gaming, holding a 5% stake in FanDuel, currently manages sports wagering operations via its Boyd Sports physical and digital platforms across its ten Las Vegas casino properties.
Under this agreement, FanDuel will assume control of both physical and online sportsbook operations in eight out of the nine states where Boyd Gaming holds licenses. The anticipated completion date for this expansion is set for some point in 2024.
