Boyd Gaming has purchased the online gaming operations of Atlantic City’s Resorts Casino for an undisclosed price. The deal was announced last week after being finalized on Sept. 1.
The online unit had outperformed the casino by as much as five times over the last few years, according to reports, and may have been an attractive entity for Boyd to grow significantly in the New Jersey online gaming market.
“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,” Resorts President Mark Giannantonio said in a statement.
Details On The Deal
The move doesn’t mean Resorts is exactly getting out of the online gaming business. Boyd will acquire rights to ResortsCasino.com and MoheganSunCasino.com along with an additional sports betting skin, all still under the Resorts licenses in the state. The companies will continue to cross-promote each brand as well.
“This marketing relationship will benefit both companies in the long term,” Giannantonio said.
Resorts will also retain its partnerships in the online gaming space with DraftKings, Penn Gaming, PokerStars, and ESPN Bet. The deal allows for considerable iGaming expansion for Boyd.
“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.
The acquisition comes as online gaming continues to grow in key markets across the country. For August, New Jersey’s online gaming industry produced revenue of $198.4 million, up 27.8% compared to $155.3 million in August 2023.
iGaming has become a major force in the overall U.S. gaming economy as well. Online gaming grossed $1.97 billion in the second quarter, a 25.2% increase from 2023.