Boyd Gaming, a colossus in the realm of US hotel and casino operations, has upped the ante in New Jersey’s bustling online gambling scene by acquiring Resorts Digital, the digital face of Atlantic City’s Resorts Casino.
Doubling Down: Boyd Gaming Scoops Up Resorts Digital
Sealing the deal on September 1, 2024, the move was rubber-stamped by Resorts’ president, Mark Giannantonio. While both parties have chosen to keep the financials under wraps, there’s no bluffing Boyd Gaming’s intent—it’s a clear bid to stake a stronger claim in the fiercely competitive iGaming sector.
Resorts Digital has been outshining its physical counterpart, raking in a jaw-dropping $573 million in revenue during the first eight months of 2024. Compare that to the physical casino’s $109 million in earnings, and it’s clear which horse is leading the race. On top of that, Resorts Digital has been posting a solid 5.6% hike in operating profits for the year’s first half, while the brick-and-mortar casino hit a rough patch, with profits plummeting 89%.
Upping the Ante: Boyd Gaming’s Long-Term Vision for Online Supremacy
Boyd’s acquisition includes ResortsCasino.com and MoheganSunCasino.com, two high-rolling iGaming websites, along with an unused sports betting “skin”—gambler’s lingo for a unique online betting identity. Despite this major shift, Resorts Digital isn’t folding. It will continue to operate under its current sports betting and online gambling licenses, maintaining partnerships with industry titans like DraftKings, ESPN BET, and PokerStars.
From Boyd Gaming’s perspective, this acquisition is a winning hand, fitting seamlessly with its strategy to expand its online gambling empire. Since launching Boyd Interactive in 2021, the company has been steadily building its digital footprint, complementing its traditional casino operations. Boyd plans to leverage its substantial resources and industry experience to amplify the success Resorts Digital has enjoyed over the past decade in New Jersey, a state celebrated as one of the premier iGaming markets in the United States.
To underscore the significance of this acquisition, Boyd Gaming highlighted how the deal aligns perfectly with their vision of creating a lucrative and interconnected iGaming ecosystem. Interestingly, Boyd is no stranger to the New Jersey market, having once held a stake in the Borgata Casino before selling it to MGM Resorts in 2016.
Industry insiders see Boyd’s latest move as a strategic re-entry into the Garden State’s gaming landscape, enhancing its portfolio, which already includes the Stardust Casino—a key player in both New Jersey and Pennsylvania.
Even under new ownership, Resorts Digital plans to continue pushing the envelope with its online offerings while also bolstering the brick-and-mortar Resorts Casino in Atlantic City. The strategy is akin to playing a hybrid game, where each side fortifies the other, ensuring the strength of the whole.
In the world of high-stakes gambling, Boyd Gaming’s latest acquisition isn’t just a bet—it’s an expertly calculated play designed to rake in the big wins in both the digital and physical realms. As they say in the business, Boyd is all in, with eyes set on the prize.
