Boyd Interactive Acquires Atlantic City iGaming Operator
Boyd Interactive is expanding its reach in the Atlantic City gaming market, as it announced a deal to acquire Resorts Digital, the online casino arm of Atlantic City’s Resorts Casino.
The deal, according to an AP report, was finalized on Sept. 1 for an undisclosed amount.
Resorts Digital has consistently outperformed its land-based Resorts Casino in terms of revenue, but the casino will maintain its other iGaming and sports betting relationships with DraftKings, PENN Gaming, ESPN BET, and PokerStars.
Boyd Expanding Atlantic City Presence
The deal includes ResortsCasino.com and MoheganSunCasino.com, along with an unused New Jersey online sports betting skin. According to revenue reports from the New Jersey Department of Gaming Enforcement, ResortsCasino.com brought in $15.9 million for the state in 2024, while MoheganSunCasino has brought in $8.4 million in revenues.
According to the AP report, Mark Giannantonio, president of Resorts, said the acquisition is consistent with Boyd’s strategy of building a profitable regional iGaming business integrated into its current nationwide portfolio.
“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 in the statement.
In the first half of this year, Resorts Digital posted a gross operating profit of $9.6 million, a 5.6% increase over the first half of 2023. Resorts Casino reported just a $355,000 gross operating profit during the first half of this year, an 89% decrease.
New Jersey iGaming Market is Booming
Boyd Interactive’s desire to expand its reach in New Jersey is certainly warranted when the health of the state’s iGaming market is considered. New Jersey online casino is one of the largest and most profitable iGaming markets in the country, only rivaled in size by neighboring Pennsylvania.
For the month of August, the Garden State reported $198.4 million in iGaming revenues, an increase of 27.8% compared with the $155.3 million in August 2023. Year-to-date, New Jersey has reported $1.52 billion in iGaming revenue, an increase of 22.7% over the same time period in 2023.
In August, Resorts Casino posted a $2.1 million win while Mohegan Sun reported $1.1 million in revenue.
However, the remaining Resorts partnerships brought in far more in iGaming revenue. PokerStars posted $1.29 million in revenues for August, while DraftKings reported $43.2 million and ESPN BET reported $3.2 million for the month.
In total, New Jersey took in $29,749,580 in iGaming tax revenues during the month. The state taxes iGaming gross gaming revenues at a rate of 15%.
Total gaming revenue reported by casinos, racetracks, and their partners was $555.1 million for August 2024, reflecting a 4.4% increase from $531.6 million reported in August 2023