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Benzinga
Benzinga
Business
Shivani Kumaresan

Boyd Gaming Agrees To Acquire Pala Interactive For $170M

Boyd Gaming BYD Canada Keith Smith United States New Jersey
  • Boyd Gaming Corp (NYSE:BYD) subsidiary Boyd Interactive Gaming has agreed to acquire Pala Interactive LLC and its subsidiaries for $170 million.
  • Pala Interactive is an online gaming technology company that provides proprietary real money and social gaming solutions in regulated markets across the U.S. and Canada. 
  • Pala Interactive's technology includes its player account management system; casino; poker; and social casino and poker platforms.
  • Pala currently provides B2B services in eight states across the U.S. and Canada and operates B2C offerings in New Jersey and Canada.
  • "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," said CEO Keith Smith.
  • The company expects to close the transaction by the first quarter of 2023.
  • Boyd Gaming plans to fund the transaction with cash on hand and existing credit agreement. It held $344.6 million in cash and equivalents as of December 31, 2021.
  • Price Action: BYD shares closed lower by 1.99% at $67.64 on Monday.
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