The Las Vegas-based subsidiary of Boyd Gaming, Boyd Interactive, has officially acquired the online gambling division of Resorts Casino in Atlantic City, known as Resorts Digital. The transaction was completed on September 1, 2024, representing a strategic expansion of Boyd's iGaming product portfolio, although the financial terms of the deal have not been disclosed.
Resorts Digital has consistently outperformed the physical Resorts Casino, becoming a significant player in the online gambling sector. According to data from the New Jersey Division of Gaming Enforcement, in the first eight months of this year, Resorts Digital generated $573 million in revenue, more than five times the $109 million revenue of the physical casino during the same period.
Outstanding Performance of Resorts Digital:
Resorts Digital has maintained impressive financial success, with a gross operating profit of $9.6 million in the first half of 2024, a 5.6% increase compared to the same period in 2023. In stark contrast, the physical casino's gross operating profit was only $355,000, nearly an 89% decline year-over-year. These figures reflect the increasing dominance of online gambling in the region, especially in New Jersey's robust iGaming market.
The acquisition by Boyd Interactive includes two major online casino platforms, ResortsCasino.com and MoheganSunCasino.com, as well as an unused sports betting skin, providing Boyd with further opportunities to expand its sports betting footprint. This acquisition enables Boyd Interactive to tap into one of the most lucrative iGaming markets in the United States.
Despite the change in ownership, Resorts Digital will continue to operate under the sports betting and online gambling licenses of Resorts Casino. This ensures a seamless transition while retaining the existing brand influence of ResortsCasino.com and MoheganSunCasino.com.
Resorts Casino will also maintain cooperative relationships with other online gambling partners, including DraftKings, Penn Gaming, PokerStars, and ESPNBET. According to Resorts Casino President Mark Giannantonio, the casino will work closely with Boyd to consolidate the success of Resorts Digital. As reported by the Associated Press, Giannantonio stated, "We believe that through Boyd Interactive's scale and its market-leading platform, this transaction will elevate the success Resorts Digital has achieved over the past decade to a new level."
Boyd's Strategic Expansion in iGaming:
Boyd Gaming views this acquisition as a key step in its broader strategy to build a profitable iGaming business, complementing its existing nationwide operations. Boyd's statement emphasizes that this acquisition aligns with its vision to enhance the significant growth of online gaming in regional markets. "New Jersey has long been one of the leading iGaming states in the US, and we look forward to working with Atlantic City's Resorts Casino to further expand our influence in the state's online gaming market," Boyd stated.
This move represents Boyd's return to Atlantic City, having previously held a stake in Borgata Casino before selling it to MGM Resorts International. Now, Boyd positions itself as a major player in New Jersey's online gambling sector, a state that has become a leader in legalized online gambling.
The collaboration between Boyd Interactive and Resorts Casino extends beyond the acquisition. The two companies plan to cross-promote each other's brands to mutually benefit from their respective customer bases. ResortsCasino.com will highlight the physical Resorts Casino Hotel to its online customers, while Resorts Casino will promote the digital platform at its venue.
Giannantonio noted, "In the long run, this marketing relationship will benefit both companies." By leveraging their respective strengths, Boyd and Resorts aim to create synergies that foster the growth of both online and physical gambling businesses.
