In November 2022, Boyd Gaming completed its acquisition of Pala Interactive for a total net cash consideration of $170m.
The investment covered Pala Interactive and all its subsidiaries.
“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,” Keith Smith, CEO of Boyd Gaming had said.
“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.”
Earlier, Boyd also 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, which is more than the $138m that it had achieved in the same period in 2021.
Further, Boyd had reported its EBITDAR for the quarter as finishing at $337m, compared to $340m in the previous year's quarter.
In August this year, Boyd signed a branding agreement with FanDuel. Through this, FanDuel officially branded Boyd’s Fremont Hotel Casino sportsbook.
Boyd now 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.
Overall, then, it has been a positive time for investors – rewarded via this dividend.
