Resorts Casino Hotel in Atlantic City announced a strategic move by selling its online gaming division to Boyd Gaming, a Las Vegas-based company. This decision could indicate that Boyd may be positioning itself to become the next management firm for the Boardwalk property.
New York real estate magnates Morris Bailey and Joseph Jerome, who own Resorts Atlantic City through JEMB Realty Corporation, disclosed that they sold Resorts’ interactive gaming unit, which is licensed in New Jersey, to Boyd Interactive earlier this month. The transaction was finalized on September 1, although the terms remain undisclosed.
Boyd has acquired Resorts Digital Gaming along with its online casino brands ResortsCasino.com and MoheganSunCasino.com. The acquisition also includes the rights to one unused sports betting skin. Despite the sale, Resorts will maintain its online gaming and sports betting partnerships with DraftKings, ESPN Bet, and PokerStars. DraftKings will also continue to operate Resorts’ retail sportsbook in Atlantic City.
Resorts President Mark Giannantonio expressed confidence in the transaction, stating that it will elevate Resorts Digital’s decade-long success through Boyd Interactive’s superior platform. Boyd has committed to cross-marketing initiatives with Resorts, ensuring that their online casino platforms will continue to promote the physical resort in Atlantic City. Likewise, Resorts will keep ResortsCasino.com signage in its building to guide visitors online after their stay.
Boyd Gaming is a major regional casino operator in the United States, managing 29 properties across 19 markets. In states allowing online gaming and sports betting, Boyd frequently partners with FanDuel, which also oversees Boyd’s in-person sports betting operations outside Nevada.
This acquisition suggests Boyd might be gearing up for a significant expansion into online gaming and sports betting. Boyd already operates StardustCasino.com, another online casino brand active in New Jersey through an agreement with MGM Resorts’ Borgata. Boyd sold its 50% stake in Borgata to MGM in 2016 for $900 million, giving MGM complete ownership of the leading Atlantic City casino.
Boyd released a statement emphasizing New Jersey’s status as a prominent iGaming state, expressing eagerness to expand their market presence there in partnership with Resorts Casino. Giannantonio added that the deal would yield long-term benefits for both companies.
Speculation arises that Boyd may terminate the MoheganSunCasino website once Mohegan’s management contract with Resorts concludes at the end of 2024. The sale of Resorts’ digital unit to Boyd might also hint at a possible announcement that Boyd will manage the resort beginning in January 2025.
Financially, Resorts Digital reported a gross operating profit exceeding $9.6 million in the first half of 2024, while the physical Resorts casino and hotel earned a modest $355,000. In the same period, Resorts Digital generated nearly $293.4 million in iGaming gross revenue, with DraftKings contributing the majority of $245.2 million. ResortsCasino.com and MoheganSun.com together accounted for $18 million.
Boyd will manage Resorts Digital’s two iGaming brands and potentially a third through its existing partnership with Resorts, sharing a portion of the online revenue with the physical casino.
