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OnlineCasinoMergers & AcquisitionsIndustry

Boyd Gaming acquires Pala Interactive

Boyd Gaming has completed its acquisition of Pala Interactive for a total net cash consideration of $170m.  

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The acquisition covers Pala Interactive and all its subsidiaries, and, although it had been previously announced, the deal has now gone through.  

Boyd Gaming CEO Keith Smith said: “Online casino gaming is an attractive growth opportunity for our Company, and the acquisition of Pala Interactive provides us with the technology, products and expertise to create a profitable regional online casino business.  

“We look forward to working with the Pala Interactive team in executing our online casino gaming strategy, which will complement our existing land-based operations and further expand our nationwide customer base.” 

Recently, Boyd announced its Q3 results, which showed an annual revenue increase of 4%.  

The company’s revenue grew from $843m for Q3 2021 to $877m for Q3 2022.  

Meanwhile, Boyd’s quarterly net income reached $157m – bettering the $138m it achieved in the same period last year. 

Boyd further reported its EBITDAR for the quarter as finishing at $337m, compared to $340m in the previous year's quarter.  

Meanwhile, results show that the company’s share price for Q3 sat at $1.46 per share – up from $1.21 following 2021’s Q3 report. 

Elsewhere, in August, Boyd signed a branding agreement with FanDuel, through which FanDuel officially branded Boyd’s Fremont Hotel Casino sportsbook. 

Boyd owns 5% of FanDuel and operates sports betting at its 10 Las Vegas casino locations through its retail and mobile sports wagering division, Boyd Sports. 

The two companies have an existing agreement, with FanDuel set to operate retail and mobile sports betting in Boyd casinos, in eight of the company’s nine licensed states by early next year. 

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