- 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.
