Admin September 23, 2024
A major U.S. hotel and casino operator is expanding into the lucrative New Jersey sports betting and iGaming market.
Boyd Gaming’s interactive division has acquired Resorts Digital, the online gaming arm of the Atlantic City hotel and casino, the Associated Press reported on Monday.
The deal, finalized on Sept. 1, was originally confirmed to the AP by Resorts president Mark Giannantonio. The acquisition price wasn’t disclosed by either side.
“We are confident that this transaction will propel Resorts Digital’s proven success over the past decade to a new level through the scale of Boyd Interactive and its market-leading platform,” Giannantonio said in a statement.
Boyd Interactive now owns iGaming sites ResortsCasino.com and MoheganSunCasino.com as well as a New Jersey unused sports betting skin attached to Resorts Casino.
Business as usual
Resorts Digital will continue to work under its current sports betting and iGaming licenses in New Jersey.
Despite the acquisition, Resorts will also reportedly keep working with partners DraftKings, ESPN BET, and PokerStars.
Boyd Gaming owns 5% of FanDuel, the prominent Flutter Entertainment sports betting giant that competes heavily with DraftKings and ESPN BET.
“New Jersey has long been one of the nation’s leading iGaming states, and we look forward to further growing our presence in that state’s online gaming market in partnership with Resorts Casino in Atlantic City,” Boyd Gaming said in a statement.
Resorts Digital will continue to promote the online casino sites inside the Atlantic City property and expects its online betting sites will push customers to the land-based casino.
Commitment to online growth
Resorts World has reported over $390 million in iGaming revenue year-to-date in New Jersey, while its legal sports betting partners DraftKings and ESPN BET have hauled in a combined $181.6 million in 2024 revenue.
Boyd Gaming recently announced Q2 2024 revenue of $967.5 million, up 5.5% year-over-year, and Adjusted EBITDA of $344.2 million.
This is a huge acquisition for the Las Vegas-based company, which currently operates 28 gaming properties in states and one tribal casino in Northern California.
This latest move signifies Boyd Gaming’s commitment to growth in the online gaming sector. The company was rumored to be interested in acquiring PENN earlier this year.
Boyd aligned with MGM Resorts International in 2018 with a deal that allowed both gaming operators to expand their online sports betting and mobile casinos in shared jurisdictions.
