Online Gambling Platform Pala Interactive Sold To Boyd GamingLas Vegas-Based Casino Operator To Pay $170 Million |
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Las Vegas-based Boyd Gaming Corporation has reached a deal to buy Pala Interactive, a California online gambling software and services company majority owned by the Pala Band of Mission Indians.
The price tag for Pala Interactive, formed in 2013, is $170 million in cash. The platform consists of proprietary technology.
Pala Interactive currently provides business-to-business services in eight U.S. states and in Canada and operates business-to-consumer products in New Jersey and Canada.
“Our tribe was at the forefront in creating an online gaming platform,” said Robert Smith, Chairman of the Pala Band of Mission Indians. “We brought together the best minds in the business to build and ultimately transact, what has become a very successful business.”
“This is the result of a considerable capital investment and lot of hard work by the Pala Tribe and Pala Interactive employees to build a modern-age online gaming platform and business tailored to the North American regulated gaming market,” said Jim Ryan, CEO of Pala Interactive.
“Boyd Gaming’s acquisition of the Pala Interactive business, positions the enterprise for the next growth phase, which includes the development and execution of an iGaming strategy for Boyd Gaming and a continued commitment of investment and development in Pala’s B2B business.”
Ryan was at the helm of Party Gaming/bwin.party from 2008 to 2013.
The deal is anticipated to close by the first quarter of 2023.
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