Boyd Gaming has struck a definitive agreement to acquire Pala Interactive and its subsidiaries for a consideration of $170 million to be paid in cash.
The transaction is expected to close by the first quarter of 2023 subject to the customary closing procedures and pending regulatory approvals. The transaction will be consummated through its Boyd Interactive Gaming subsidiary with Morrison and Forester LLP serving as Boyd’s legal adviser for the transaction.
Said Keith Smith, President and Chief Executive Officer of Boyd Gaming:
“The acquisition of Pala Interactive marks the next phase in the ongoing execution of our iGaming strategy, providing us full control over the technology, development and customer experience. By integrating online casinos with our existing land-based operations, we will be able to further leverage and monetize our expansive customer database and the amenities of our nationwide portfolio of properties, driving growth in both our land-based and iGaming operations.”
B2B and B2C Provider
Founded in 2013, Pala Interactive is an innovative online gaming tech company which provides real-money and social gaming solutions on both business-to-business (B2B) and business-to-customer (B2C) basis in regulated markets across the United States and Canada.
It’s technology includes a player management system, casino, poker, integrated sports, social casino and poker platforms, and managed services. It currently provided B2B services to eight different markets in the United States and Canada plus B2C products in New Jersey and Canada.
Boyd Gaming currently operates 28 gaming entertainment properties across 10 different states in the U.S. It is also a strategic partner and 5% equity owner of the leading sports betting company FanDuel Group. It was named as Nevada’s Best Employers in 2020 and 2021.
According to the company, the acquisition of Pala Interactive is the next phase in the ongoing execution of its igaming strategy by getting full control of its technology. Given its nationwide presence, it also makes sense that Boyd Gaming pursued a direct approach in its igaming operations.