LAS VEGAS–(BUSINESS WIRE)–Boyd Gaming Corporation (NYSE: BYD) as we speak introduced that its wholly-owned subsidiary, Boyd Interactive Gaming Inc., has entered right into a definitive settlement to purchase Pala Interactive LLC and its subsidiaries for complete money consideration of $170 million.
Pala Interactive is an modern on-line gaming know-how firm that gives proprietary actual cash and social gaming options on each a business-to-business (B2B) and business-to-consumer (B2C) foundation in regulated markets throughout the United States and Canada. Pala Interactive’s know-how consists of its participant account administration system; on line casino; poker; and social on line casino and poker platforms. Pala enhances its on-line gaming platform with a full suite of managed companies. Pala at the moment gives B2B companies in eight states throughout the United States in addition to Canada, and operates B2C choices in New Jersey and Canada.
Keith Smith, President and Chief Executive Officer of Boyd Gaming, stated: “The acquisition of Pala Interactive marks the subsequent section within the ongoing execution of our iGaming technique, offering us full management over the know-how, growth and buyer expertise. By integrating on-line casinos with our current land-based operations, we might be in a position to additional leverage and monetize our expansive buyer database and the facilities of our nationwide portfolio of properties, driving progress in each our land-based and that iGaming operations.”
Smith continued: “Given our nationwide geographic distribution, vital database and established loyalty program, it is smart for us to pursue a direct strategy with our iGaming operations. By participating straight with our visitors and being able to personalize the client expertise, we’re assured in our means to create an economical and worthwhile regional iGaming enterprise. While the acquisition of Pala Interactive helps our iGaming technique, we stay totally dedicated to our sports-betting partnership with FanDuel, which has allowed us to take part within the nationwide growth of sports-betting. We look ahead to welcoming the Pala Interactive staff to our Company and constructing a extremely profitable on-line gaming enterprise within the years forward.”
The transaction is predicted to shut by the primary quarter of 2023, topic to customary closing circumstances and the receipt of all required regulatory approvals. The transaction might be financed with a mixture of money readily available and the Company’s current credit score settlement.
Morrison & Foerster LLP served as authorized advisor to Boyd Gaming for the transaction, whereas Moelis & Company LLC served as unique monetary advisor to the Company.
The Company is offering a presentation additional detailing the transaction at: https://investors.boydgaming.com.
About Boyd Gaming
Founded in 1975, Boyd Gaming Corporation (NYSE: BYD) is a number one geographically diversified operator of 28 gaming leisure properties in 10 states. The Company can also be a strategic associate and 5% fairness proprietor of FanDuel Group, the nation’s main sports-betting and that iGaming operator. With one of the crucial skilled management groups within the on line casino trade, Boyd Gaming prides itself on providing its visitors an excellent leisure expertise, delivered with unwavering consideration to customer support. Through a long-standing firm philosophy known as Caring the Boyd Way, Boyd Gaming is dedicated to advancing Environmental, Social and Corporate Governance (ESG) initiatives that positively impression the Company’s stakeholders and communities. Our dedication to being an employer of selection has been acknowledged by Forbes journal, which named Boyd Gaming the highest-ranked gaming firm in America’s Best Employers for Diversity in 2021, and Nevada’s Best Employers in 2020 and 2021. For extra Company data and press releases, go to https://investors.boydgaming.com.
About Pala Interactive
Founded in 2013, Pala Interactive LLC anticipated the expansion of on-line gaming alternatives within the United States and now gives its proprietary Online Gaming Platform for actual cash and social gaming.
The Pala Interactive Online Gaming Platform consists of proprietary know-how which incorporates participant account administration system, on-line on line casino and poker merchandise complemented by our built-in sports activities platform, related advertising and marketing device integrations and non-obligatory buyer and advertising and marketing help companies.
Forward-looking Statements
This press launch comprises, or might comprise, forward-looking statements throughout the that means of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements comprise phrases corresponding to “might,” “will,” “may,” “count on,” “imagine,” “anticipate,” “might,” “would,” “estimate,” “proceed,” “pursue,” or the destructive thereof or comparable terminology, and embody (with out limitation) statements concerning the transactions contemplated by the Merger Agreement, Boyd’s expectations concerning the timing of closing, the potential advantages to be achieved from the acquisition of the Pala Interactive enterprise, together with the potential long-term progress of Pala Interactive, expectations concerning timing for Pala Interactive to be money stream constructive and accretive to Boyd Gaming’s earnings, integration of on-line casinos with Boyd Gaming’s current land-based operations, execution of Boyd Gaming’s digital gaming technique, means to leverage and monetize Boyd Gaming’s buyer database and facilities of its nationwide portfolio of properties, and any statements or assumptions underlying any of the foregoing. These forward-looking statements are primarily based upon the present beliefs and expectations of administration and contain sure dangers and uncertainties, together with (with out limitation) the chance that the transactions contemplated by the definitive settlement is not going to shut on the anticipated phrases (or in any respect), or that Boyd is unable to efficiently combine the acquired property or that the properties might be money stream constructive or accretive to Boyd’s earnings as anticipated; litigation, antitrust issues or the satisfaction or waiver of any of the closing circumstances that might delay or stop the closing; and adjustments to the monetary circumstances of the events, or the credit score markets, or the financial circumstances within the areas wherein they function. Additional components are mentioned in “Risk Factors” in Boyd’s Annual Report on Form 10-Ok for the 12 months ended December 31, 2021, and in Boyd’s different present and periodic studies filed from time to time with the Securities and Exchange Commission. All forward-looking statements on this press launch are made as of the date hereof, primarily based on data accessible to Boyd as of the date hereof, and Boyd assumes no obligation to replace any forward-looking assertion.
https://www.businesswire.com/news/home/20220328005748/en/Boyd-Gaming-to-Acquire-Pala-Interactive
