Source: Unsplash
Boyd Interactive, part of Las Vegas-based Boyd Gaming, has purchased Resorts Digital, the online gambling division of Atlantic City’s Resorts casino, for an undisclosed amount. The deal, finalized on September 1, includes ResortsCasino.com, MoheganSunCasino.com, and an unused sports betting license.
Resorts Digital has consistently outperformed the physical casino, generating over $573 million in revenue during the first eight months of 2023 - five times more than the $109 million earned by the physical casino. Boyd sees the acquisition as a strategic move to expand its regional iGaming business.
Resorts will continue partnering with other online gambling operators such as DraftKings, Penn Gaming, PokerStars, and ESPNBET. The two companies will cross-promote each other's brands, benefiting from a shared marketing relationship. Despite the ownership change, Resorts Digital will operate under the casino's existing licenses.
The global online gambling market has experienced substantial growth in recent years, driven in part by the increased adoption of smartphones, advancements in internet technology, and rising user spending power.
Valued at $66.72 billion in 2020, the market saw a notable growth rate of 11.2% in 2021. With the market projected to expand from $74.17 billion in 2021 to $158.20 billion by 2028, the industry’s momentum is expected to continue.
Online gambling providers are increasingly investing in advanced technologies to enhance customer experiences and maintain strong growth even as demand stabilizes. This trend highlights the resilience and expanding potential of the online gambling industry in a competitive digital environment.
Exampling the industry’s buoyancy is the amount of new online casinos that are being established. Established names like Jackpot City, Bet365, and Hard Rock Bet are now competing with new names like Bet Ocean and Bet Rivers, each trying to distinguish themselves with innovative platforms, immersive software, and safe and secure payment systems.
Attractive bonus offers for new customers are another resource platforms use to create an appealing product. From 10 days of free spins on slot games at Bet365 to a 50% deposit match up to $1,000 at Jackpot City, there are all kinds of bonus offers and codes used to distinguish operators in the market. Click here to read the entire list of $25 no-deposit bonus codes, for example. The number of online casinos listed underlines just how competitive the industry is in 2024 and why, given the predicted market expansion by 2028, Boyd Interactive has taken the strategic decision to acquire Resorts Digital.
Source: Unsplash
Boyd Gaming’s acquisition of Resorts Digital is a strategic move to strengthen its online presence and capitalize on the growing iGaming market. By integrating Resorts Digital's proven success with Boyd Interactive’s market-leading platform, the company aims to leverage its expertise and resources to enhance profitability and scale operations.
Boyd views this investment as a key component in its long-term strategy to build a robust regional iGaming business that complements its existing nationwide portfolio. The acquisition also enables Boyd to expand its footprint in New Jersey—one of the country’s leading online gambling markets—through a continued partnership with Resorts Casino and its established relationships with major online gambling brands.
