{"id":7399,"date":"2024-06-23T00:19:10","date_gmt":"2024-06-23T00:19:10","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/06\/23\/boyd-gaming-expresses-interest-in-acquiring-penn-entertainment\/"},"modified":"2024-06-23T00:19:10","modified_gmt":"2024-06-23T00:19:10","slug":"boyd-gaming-expresses-interest-in-acquiring-penn-entertainment","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/06\/23\/boyd-gaming-expresses-interest-in-acquiring-penn-entertainment\/","title":{"rendered":"Boyd Gaming Expresses Interest in Acquiring Penn Entertainment"},"content":{"rendered":"
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Boyd Gaming has approached Penn Entertainment for a potential acquisition, as reported by Reuters. This potential deal would mark the largest US gambling merger since Eldorado Resorts acquired Caesars Entertainment for $17.3 billion in 2019-2020.<\/p>\n

The news of Boyd\u2019s approach led to an 8% rise in Penn\u2019s share value, bringing it to $19.89. Meanwhile, Boyd Gaming\u2019s stocks fell by 3%. Penn\u2019s market value is reported to be over $9 billion, while Boyd\u2019s stands at $7.8 billion. However, Boyd leads in market capitalization at $5 billion compared to Penn\u2019s $3 billion. Penn\u2019s connections with Disney and its rights to the ESPN Bet brand are expected to enhance its valuation.<\/p>\n

Penn operates more casinos and racetracks than Boyd, with 43 properties across 20 states compared to Boyd\u2019s 28 properties in 10 states. Both companies are active in the online casino and sports betting markets. Boyd holds a 5% stake in FanDuel, while Penn holds the rights to the ESPN Bet brand.<\/p>\n

The overlap in the states where both companies operate could necessitate divestments if the acquisition proceeds. Despite the combined $8.06 billion value of the merged entity, it would still trail behind Wynn Resorts, MGM, and Caesars but would surpass GLPI and Red Rock Resorts in the industry rankings.<\/p>\n

The post Boyd Gaming Expresses Interest in Acquiring Penn Entertainment<\/a> appeared first on iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Boyd Gaming has approached Penn Entertainment for a potential acquisition, as reported by Reuters. This potential deal would mark the largest US gambling merger since Eldorado Resorts acquired Caesars Entertainment for $17.3 billion in 2019-2020. The news of Boyd\u2019s approach led to an 8% rise in Penn\u2019s share value, bringing it to $19.89. Meanwhile, Boyd […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-7399","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t