North American igaming services company Pala Interactive has confirmed that it will sell its business to Boyd Gaming Corporation.
The transaction will see NYSE-listed Boyd purchase Pala from its current owners, the Pala Band of Mission Indians, for a total consideration of £170m.
By acquiring Pala, Boyd is securing igaming technology including a player management system, casino, poker, social casino and poker platforms, along with integrated sports and a suite of managed services.
Boyd anticipates the transaction to finalise in the first quarter of 2023, subject to customary closing conditions such as a regulatory review and approval. The firm detailed earlier in February that it was eyeing up investments for 2022 with regards to both online and land-based operations.
Jim Ryan, CEO of Pala Interactive, remarked: “This is the result of a considerable capital investment and a 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.
“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.”
Founded in 2013 by Pala Indians, Pala provides both B2B and B2C real money and social gaming solutions to US and Canadian regulated markets.
The brand currently provides its B2B services in eight US states as well as in Canada – as well as a B2B2C offering in the latter – and also manages B2C products in New Jersey.
Pala currently expects further expansion in the Canadian market, having recently secured its Ontario Gaming Related Supplier (GRS) Manufacturer Licence.
Robert Smith, Chairman of the Pala Band of Mission Indians, added: “Our tribe was at the forefront in creating an online gaming platform. We brought together the best minds in the business to build and ultimately transact, what has become a very successful business.”