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Boyd Interactive, a subsidiary of Las Vegas-based Boyd Gaming, has officially purchased Resorts Digital, the online gambling division of Resorts Casino in Atlantic City. The transaction, finalized on September 1, 2024, represents a strategic expansion of Boyd’s iGaming portfolio, although the financial terms of the deal remain undisclosed.
Resorts Digital, which has consistently outperformed the physical Resorts Casino, is a significant player in the online gambling space. Over the first eight months of this year, Resorts Digital generated $573 million in revenue, more than five times the $109 million earned by the physical casino during the same period, according to data from the New Jersey Division of Gaming Enforcement.
Resorts Digital’s stellar performance:
Resorts Digital has maintained impressive financial success, with gross operating profits reaching $9.6 million in the first half of 2024, a 5.6% increase compared to the same timeframe in 2023. In stark contrast, the physical casino posted a gross operating profit of just $355,000, down almost 89% year-over-year. These numbers reflect the growing dominance of online gambling in the region, particularly in light of New Jersey’s strong iGaming market.
Boyd Interactive’s acquisition includes two major online casino platforms, ResortsCasino.com and MoheganSunCasino.com, as well as one unused sports betting skin, which provides further opportunities for Boyd to expand its sports betting footprint. This acquisition allows Boyd Interactive to tap into the vast potential of the digital gambling industry in one of the nation’s most lucrative iGaming markets.
Despite the change in ownership, Resorts Digital will continue to operate under the sports betting and online gambling licenses of Resorts Casino. This allows for a seamless transition while preserving the established brand presence of both ResortsCasino.com and MoheganSunCasino.com.
Resorts Casino will also maintain its relationships with other online gambling partners, including DraftKings, Penn Gaming, PokerStars, and ESPNBET. According to Mark Giannantonio, president of Resorts Casino, the casino will work closely with Boyd to build on the success of Resorts Digital. “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,” Giannantonio said, as reported by Associated Press.
Boyd’s strategic expansion in iGaming:
Boyd Gaming views this acquisition as a crucial step in its broader strategy to build a profitable iGaming business that complements its existing nationwide operations. Boyd’s statement emphasized that this purchase aligns with its vision of strengthening its presence in regional markets where online gaming has seen significant growth. “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 said.
This move represents Boyd’s return to Atlantic City after previously owning a stake in the Borgata Casino, a share that it sold to MGM Resorts International. Now, Boyd is positioning itself as a major player in the online gambling landscape of New Jersey, a state that has become a leader in legalized iGaming.
The partnership between Boyd Interactive and Resorts Casino goes beyond just the acquisition. The two entities plan to cross-promote their brands to mutually benefit from each other’s customer bases. ResortsCasino.com will highlight the physical Resorts Casino Hotel to its online patrons, while Resorts Casino will promote the digital platform within its premises.
“This marketing relationship will benefit both companies in the long term,” noted Giannantonio. By leveraging their respective strengths, Boyd and Resorts aim to create a synergistic effect that bolsters both the online and physical gambling businesses.
