Boyd Gaming to Acquire Pala Interactive

Boyd Gaming Logo
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

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.

Playtech Announces Simultaneous Live Casino Launch in Michigan and New Jersey

Computer Code Wallpaper, Laptop Displaying Poker Cards

Playtech PLC said on Friday that it has rolled out Live Casino facilities in Michigan and New Jersey. The simultaneous launch comes after the Isle of Man-based company received its approvals from both the Michigan Gaming Control Board and the New Jersey Division of Gaming Enforcement.

The dual launch represents Playtech’s first foray in the United States iGaming market. Playtech is considered as the largest live studio gaming operator in Europe and Asia. It comes less than one week after Elys Game Technology reached an agreement with Playtech to have the latter offer its iGaming products in Italy under the Newgioco brand.

Dual Roll-out

Playtech’s dual roll out was done in collaboration with Parx Interactive in Michigan and Bet365 in New Jersey.

In the Wolverine State, Playtech’s partnership with Parx is under the “Play Gun Lake” brand as Parx is the gaming partner of the Gun Lake Band of Pottawatomi Indians. The games originate from a Southfield, Michigan Studio just outside of Detroit.

Meanwhile, Playtech is the provider of live casino games for longtime partner Bet365 in New Jersey. Bet365 operates as one of the skins for the Hard Rock Hotel and Casino. The studio for the Garden State games is located in Atlantic City.

Landmark Moment for Playtech’s Expansion in the United States

According to Playtech Live Casino CEO Edo Haitin, the concurrent rollout is a landmark moment for the company’s expansion in the United States, as it is something that even Playtech had never done before. Haitin added that Playtech’s vision and drive for growth has been well-received by the local communities.

The CEO also added that he believes that his company will be attractive to U.S. users because of its ability to develop specialized gameplay experiences tailor-made for American bettors. Playtech said it will offer its Quantum Roulette Arcade in both states, modifying the game for the U.S. market. Meanwhile, Playtech said it will offer its “All Bets Blackjack” in Michigan. The game’s scalable platform will allow an unlimited number of players to play in the same game.

Although sports betting has taken off in the United States, iGaming has not been as popular and isn’t available in as many states as sports wagering. Besides Michigan and New Jersey, the only other states to offer legalized online casinos are Connecticut, Delaware, Pennsylvania, and West Virginia.

Gov. Ned Lamont and Mohegan Tribe Agree to Expand Gaming in Connecticut

Two Laptops Showing Sports in Front of a Pile of Money
The state of Connecticut has reached an agreement with the Mohegan Tribe, the owners of the Mohegan Sun Casino in Ucansville, Connecticut, to expand gaming in the state, including online gaming and sports betting. The deal however, was made without the state’s other tribal nation.

In a written statement, Governor Lamont said:

“This agreement represents months of hard work and dedication to getting a deal that’s best for the residents of Connecticut and moves our state forward when it comes to the future of gaming. We are incredibly fortunate to have such a devoted partner in these efforts like the Mohegan Tribe, as they have been open to negotiation, honest discussion, and a positive path forward that is beneficial for both their tribe and the State of Connecticut.”

The governor’s office says that the deal is worth “tens of millions” of additional revenue to the state. Lamont is banking that iGaming and Connecticut sports betting will be legalized this year. He already included $47M in revenue from the two into his budget starting in fiscal 2022.

Details of Connecticut Sports Betting Agreement

Under the deal, a 20% tax rate will be levied on new online gaming while a 13.5% tax rate will be imposed on Connecticut sports betting. The agreement is good for 10 years and has a five-year expansion option.

As part of the deal, the Connecticut Lottery will be allowed to operate 15 retail sports betting shops, including new ones in Hartford and Bridgeport. The Lottery can also sub-license some of the operations to Sportech but Sportech will not get operations or an online skin of its own.

Eastern Connecticut Lawmakers Upset

Meanwhile, the members of the Eastern Connecticut said that the “cannot accept” any gambling expansion agreement reached by Gov. Ned Lamont and the Mohegan Tribe if it does not include the Mashantucket Pequot Tribal Nation. The bipartisan group sent a letter to the Governor urging him and the state’s two federally recognized tribes to complete an agreement by Sunday.

Rodney Butler, the chair of the Mashantucket Pequots said on Tuesday that it was “disrespectful” for the Governor to announce a gambling agreement with only one tribe when the Mashantucket Pequots have been actively participating in the discussions for months and in good faith. Butler however said that his group is open to continuing the discussions but has a financial issue with the deal.