Boyd Interactive, a subsidiary of Las Vegas-based Boyd Gaming, has acquired Resorts Digital, the online gambling arm of Resorts casino in Atlantic City. The deal, finalized on September 1, strengthens Boyd’s presence in the iGaming market, though the purchase price was not disclosed.
Resorts Digital has consistently outperformed its physical counterpart. Over the first eight months of this year, it generated $573 million in revenue — five times more than the $109 million recorded by the brick-and-mortar Resorts casino, according to data from the New Jersey Division of Gaming Enforcement.
In terms of profitability, Resorts Digital posted a gross operating profit of $9.6 million in the first half of this year, marking a 5.6% increase year-on-year. In contrast, the physical casino’s profits fell nearly 89% to $355,000.
As part of the transaction, Boyd acquired ResortsCasino.com, MoheganSunCasino.com, and an unused sports betting skin. However, Resorts casino will retain partnerships with other major online gambling players, including DraftKings, Penn Gaming, PokerStars, and ESPNBET.
The acquisition aligns with Boyd Gaming’s long-term strategy of growing its iGaming footprint in regional markets.
“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.
Despite the change in ownership, Resorts Digital will continue to operate under Resorts casino’s sports betting and internet gambling licenses. The two entities will cross-promote, with ResortsCasino.com marketing the physical casino to its online users, and Resorts casino promoting the online platform on-site.
“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,” said Mark Giannantonio, president of Resorts.
Both companies anticipate that this long-term marketing collaboration will mutually benefit their operations.
Resorts is owned by New York real estate executive Morris Bailey and business partner Joseph Jerome. Boyd Gaming, which previously co-owned Atlantic City’s Borgata casino before selling its stake to MGM Resorts International, continues to expand its reach in the U.S. online gambling market.
Original article: https://www.yogonet.com/international/noticias/2024/09/24/79736-boyd-gaming-acquires-resorts-digital-in-latest-igaming-expansion
