Boyd closes acquisition of Pala Interactive for $170M
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Casino and gaming operator Boyd Gaming announced Wednesday it has closed on its previously confirmed acquisition of Pala Interactiveand its subsidiaries for a total net cash consideration of $170 million.
Keith Smith, President and Chief Executive Officer of Boyd Gaming, 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," he added.
California-based Pala Interactive is expected to build on Boyd's iGaming strategy and drive growth within the segment. The definitive agreement was carried out through Boyd's wholly-owned subsidiary Boyd Interactive Gaming.
Back when the acquisition was announced, Boyd describes Pala Interactive as “an innovative online gaming technology company” providing proprietary real money and social gaming solutions on both a business-to-business (B2B) and business-to-consumer (B2C) basis in regulated markets across both the United States and Canada.
Pala Interactive’s technology includes its player account management system, casino, and social casino and poker platforms. The business complements its iGaming platform with a full suite of managed services, and currently provides B2B services in eight states across the US as well as Canada, and operates B2C offerings in New Jersey and Canada.
Boyd recently shared its financial results for the third quarter of this year, delivering revenues of $877.3 million, a slight increase from $843.1 million in the same quarter last year. The company further reporteda net income of $157 million – or $1.46 per share, up when compared to $138.2 million for the year-ago period.
Shortly before that, the Sky River Casino in Elk Grove, Sacramento, which opened its doors earlier this year and which Boyd manages on behalf of the Wilton Rancheria Tribe, launched cashless options combining Konami Gamingand Everi Holdings' technology.
Using Everi's digital CashClub Wallet with Konami’s SYNKROS casino management system, the newly constructed destination is taking its first steps in California. Guests can access digital, mobile, traditional, and contactless payment options across the destination’s 2,000 slot machines, 80 table games, and 12 dining experiences.
