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.
The Michigan Gaming Control Board announced on Monday that it has approved another online gambling operator in the Wolverine state.
Four Winds Casino received the green light to commence online gambling activities through its platform provider Pala Interactive LLC. The new online Michigan sports betting and online gaming operator was permitted to go live as of noon on Monday.
Said MGCB Executive Director Richard Kalm in a statement:
“We welcome the addition of Four Winds Casinos and Pala Interactive to Michigan’s growing online gaming and sports wagering market. Their participation will generate revenue to support education, economic development and the Pokagon Band’s tribal community.”
Four Winds Casino Brand
The Four Winds Casino and Pala Interactive LLC partnership is the 11th online operator to offer Michigan sports betting and online gaming. The Four Winds Casino brand is operated by the Pokagon Band of Potawatomi Indians. It currently has three properties in the western portion of the state near Lake Michigan, namely Dowagiac, Hartford, and New Buffalo.
Although the Four Winds and Pala partnership missed out on the Super Bowl, it will have three weeks to prepare for the next biggest sporting spectacle in the United States in the NCAA Basketball tournament. The University of Michigan Wolverines are one of the top basketball teams in college basketball and their success could spark March Madness bets in the state.
First State to Open Three Verticals Simultaneously
Michigan sports betting was legalized on December 20, 2019 after Bills S4916 and H4311 were passed and signed by Governor Gretchen Whitmer. Physical sportsbooks became operational after the Michigan sports betting bills were signed. However, it was only last January 22, 2021 when online sports betting commenced in the Wolverine state.
The Michigan Gaming Control Board has been tasked to administer and regulate Michigan sports betting and online gaming. So far, it has approved a total of 15 mobile gaming licenses. Online poker and online gaming also launched on January 22nd, marking the first time that a U.S. state chose to open the doors on the three verticals simultaneously.