LAS VEGAS, NV – Boyd Interactive Gaming has entered into a definitive agreement to acquire Pala Interactive and its subsidiaries for a total cash consideration of $170 million.
Pala Interactive is an online gaming technology company that provides proprietary real money and social gaming solutions on both a business-to-business (B2B) and business-to-consumer (B2C) basis in regulated markets across the U.S. and Canada. The company’s majority shareholder is the Pala Band of Mission Indians, which owns and operates Pala Casino Spa and Resort. Pala Interactive’s technology includes its player account management system, casino, poker, and social casino and poker platforms. Pala complements its online gaming platform with a suite of managed services and currently provides B2B services in eight states across the U.S. as well as Canada, and operates B2C offerings in New Jersey and Canada.
“The acquisition of Pala Interactive marks the next phase in the ongoing execution of our iGaming strategy, providing us full control over the technology, development and customer experience,” said Keith Smith, President and Chief Executive Officer of Boyd Gaming. “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.”
The transaction is expected to close by the first quarter of 2023, subject to customary closing conditions and the receipt of all required regulatory approvals. The transaction will be financed with a combination of cash on hand and the company’s existing credit agreement.