Boyd Interactive Purchases Atlantic City's Resorts' Online Gambling Ops
Boyd Interactive has officially acquired the online gambling operations of Atlantic City's Resorts Casino for an undisclosed sum. Mark Giannantonio, president of Resorts, announced on September 23 that the transaction was finalized on September 1.
The Resorts casino complex in Atlantic City, New Jersey, at night. (Source: WPG Talk Radio)
LISTEN TO THIS ARTICLE:Resorts Digital has consistently outperformed its physical counterpart over recent years, and this acquisition underscores the growing importance and profitability of online gambling in comparison to traditional brick-and-mortar casinos. According to data from the New Jersey Division of Gaming Enforcement, Resorts Digital generated over $573 million in revenue during the first eight months of this year alone. This figure stands in stark contrast to the $109 million earned by the physical Resorts casino during the same period.
Related: Boyd Gaming Interested in Purchasing Penn EntertainmentThe profitability metrics further highlight this disparity. In the first half of 2023, Resorts Digital reported a gross operating profit of $9.6 million, reflecting an increase of 5.6% compared to last year's figures for the same timeframe. Conversely, Resorts Casino's gross operating profit plummeted to just $355,000—an almost 89% decrease from one year prior. This trend indicates a shifting preference among gamblers toward online platforms as they seek convenience and variety.
As part of this acquisition deal, Boyd Interactive received ownership of both ResortsCasino.com and MoheganSunCasino.com, along with an unused sports betting skin or online identity. Despite this change in ownership, Giannantonio confirmed that Resorts will maintain its relationships with other established online gambling partners such as DraftKings, Penn Gaming, PokerStars, and ESPNBET. This strategic decision allows Resorts Casino to continue leveraging its existing partnerships while expanding its digital footprint through Boyd Interactive.
Historically significant is Boyd Gaming's previous involvement with Atlantic City's Borgata casino; they were once half-owners before selling their interest to MGM Resorts International. The new ownership structure may allow Boyd Interactive to apply lessons learned from its past experiences as it navigates its latest venture into online gaming.
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Resorts Digital to Stay in the Game
Even though Boyd now owns these digital assets under its umbrella, it has been confirmed that Resorts Digital will continue operating under the sports betting and Internet gambling licenses held by Resorts Casino. This arrangement ensures compliance with regulatory standards while allowing both entities to benefit from shared marketing efforts.
The two companies plan to cross-promote each other; for instance, physical patrons at Resorts Casino will see promotions for the ResortsCasino.com brand prominently displayed throughout their visit. Simultaneously, customers engaging with resorts' online platforms will be introduced to promotions for visiting Resort Casino Hotel in Atlantic City—a strategy designed to enhance customer engagement across both platforms.
This acquisition reflects broader trends within New Jersey's gaming industry where online gambling continues gaining traction among consumers looking for accessible entertainment options from home or on-the-go devices. As competition intensifies among various operators vying for market share in this rapidly evolving sector, partnerships like those formed between Boyd Interactive and Resorts could set new benchmarks for success moving forward.
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