Boyd Gaming Reportedly Considering Penn Purchase

A report from news service Reuters claims that betting group Boyd Gaming has approached Penn Entertainment for the purposes of a potential purchase agreement.

The move would be among the larger gambling mergers in the gambling industry within the United States if it comes to pass. Penn Entertainment currently has a market cap of $3 billion, while Boyd holds a market cap of just shy of $5 billion.

Such a purchase process would be subject to many regulatory approvals as well as needing approval from Penn partner Disney, who licenses its ESPN brand to the company for the ESPN Bet product.

What a merger would look like is unknown, as firm details on the offer weren't made publicly available.

Penn currently operates more than 40 betting properties across 20 states and has been working to expand its presence online through the ESPN Bet brand. For its part, Boyd runs 28 properties across 10 states, and the company also holds a 5% stake in FanDuel, an online betting group that regularly ranks among the highest-performing in North America.

Casino Listings News is following this story and will be updating readers as we learn more.

Source: Reuters

About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.

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