A prominent gaming corporation, Boyd Gaming, has recently concluded the purchase of Pala Interactive for a substantial sum of $1.7 billion. This agreement, which had been under discussion for some time, encompasses all of Pala Interactive’s subsidiary companies.
Boyd Gaming’s chief executive, Keith Smith, views internet gaming as a significant avenue for the company’s expansion. He contends that incorporating Pala Interactive’s technological capabilities, offerings, and knowledge will enable Boyd to establish a lucrative digital footprint across various geographical areas. Smith highlighted the significance of assimilating Pala’s workforce and capitalizing on their online proficiency to enhance Boyd’s existing brick-and-mortar casinos, ultimately broadening their clientele base throughout the country.
This announcement follows closely on the heels of Boyd’s recently disclosed third-quarter financial performance, which demonstrated a 4% rise in annual revenue, reaching $877 million compared to $843 million in the corresponding period of the preceding year. Their net earnings for the quarter also witnessed a robust surge to $157 million, exceeding the prior year’s $138 million.
Boyd also declared an EBITDAR of $337 million for the quarter, reflecting a slight decrease from $340 million in the previous year. Earnings per share amounted to $1.46, marking a substantial increase from $1.21 per share reported in the third quarter of 2021.
In separate developments, Boyd Gaming formed a partnership with FanDuel in August, designating FanDuel as the exclusive sports wagering partner for Boyd’s Fremont Hotel Casino.
Boyd Gaming, currently holding a 5% stake in FanDuel, plans to broaden its collaboration with the prominent sports wagering company. Boyd Sports, the gaming arm of the corporation, presently manages operations within Boyd’s ten Las Vegas casino resorts.
This amplified agreement will introduce FanDuel to eight of the nine states where Boyd possesses licensing, facilitating both physical and digital sports betting. The complete implementation of this expansion is projected to conclude at some point during 2024.
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