Boyd Gaming Agrees To Acquire Pala Interactive For $170M

Boyd Gaming Corp 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.