In a recent acquisition in the world of online gambling, Boyd Interactive, a division of Boyd Gaming based in Las Vegas, has acquired Resorts Digital, which is the online gambling arm of Atlantic City’s Resorts casino. The exact purchase price for this transaction has not been disclosed.
Mark Giannantonio, the president of Resorts, announced on Monday that the deal was finalized on September 1st. Despite both companies keeping the purchase price under wraps, it is clear that Resorts Digital has been outperforming the physical Resorts casino for years. In fact, over the first eight months of this year, Resorts Digital has raked in five times the amount of money from gamblers compared to the physical casino.
According to the New Jersey Division of Gaming Enforcement, Resorts Digital managed to bring in over $573 million during that period, while the physical Resorts casino only made around $109 million. Additionally, in terms of profitability, Resorts Digital saw a gross operating profit of $9.6 million in the first half of this year, marking a 5.6% increase from the previous year. On the other hand, the physical Resorts casino’s gross operating profit plummeted to just $355,000 in the same time frame, a significant decrease of nearly 89%.
As part of this acquisition, Boyd Interactive has gained control of ResortsCasino.com and MoheganSunCasino.com, as well as one unused sports betting skin. Despite this, Resorts Casino will maintain its relationships with other online gambling partners such as DraftKings, Penn Gaming, PokerStars, and ESPNBET.
Mark Giannantonio expressed his optimism about the future of Resorts Digital under Boyd Interactive’s ownership, stating, “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.” Boyd Gaming also shared their excitement about the purchase, mentioning that it aligns with their strategy of expanding their profitable regional iGaming business.
Boyd Gaming highlighted New Jersey’s standing as a top iGaming state and their intentions to further enhance their presence in the online gaming market with Resorts Casino in Atlantic City. It’s worth noting that Boyd used to have a stake in Atlantic City’s Borgata casino before selling it to MGM Resorts International.
Even though Resorts Digital is now under Boyd’s ownership, it will continue to operate under the sports betting and internet gambling licenses held by Resorts Casino. Giannantonio emphasized that this collaboration will benefit both companies in the long run.
Overall, this acquisition marks a significant move in the online gambling industry, with Boyd Interactive and Resorts Digital poised for continued success in the ever-evolving world of iGaming.