California’s Pala Band of Mission Indians will sell its majority-owned iGaming software and services company, Pala Interactive, to Boyd Gaming Corporation.
The tribal operator has entered into a definitive agreement that will see ownership of the business transferred to Boyd Gaming for a total cash consideration of $170m.
Founded by the Pala Band of Mission Indians in 2013, the iGaming supplier offers a player management system, casino, poker, integrated sports, social casino and poker platforms, as well as managed services.
“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.”
The company’s acquisition by Boyd comes after Pala Interactive received a licence to operate as a supplier in Ontario’s soon-to-launch regulated market.
The transaction is subject to regulatory review and approval, and is expected to close by the first quarter of 2023.
Jim Ryan, CEO of Pala Interactive, said: “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.”
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