Sports Betting Legalization Gives Boyd Gaming An Excuse To Expand

Marc Meltzer June 29, 2018 1231 Reads
Boyd Gaming

Everyone wants a taste of legal sports betting as it slowly expands state by state across America. The easiest way to get in on the action (and revenue) from sports betting is for experienced sportsbook operators from Nevada to open new locations in other casinos they own as the state legalized sports betting.

MGM Resorts and William Hill have already expanded into New Jersey. William Hill is also taking action in Delaware. Both sportsbook operators are ready to expand their sportsbook operations into Mississippi when they legalize sports betting in July. Boyd Gaming will likely join the Nevada sportsbook operators in Mississippi by opening sportsbooks in their Sam’s Town Tunica and IP Biloxi casinos.

This should only be the beginning for Boyd Gaming to expand their sportsbook operations. Many people think of Boyd as a Las Vegas locals casino operator. They’re actually much larger with 12 casinos in Nevada and more around the country. The casino operator has properties in the following seven states:

  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Louisiana
  • Mississippi
  • Nevada

Earlier this year they purchased five casinos in four more states. These casinos should become a part of the Boyd Gaming family before the year is over.

  • Missouri – Ameristar St. Charles, Ameristar Kansas City
  • Indiana – Belterra Casino Resort
  • Ohio – Belterra Park
  • Pennsylvania – Valley Forge

According to Motley Fool, Boyd Gaming isn’t done expanding. They’re reporting that the regional casino operator is about to go on a shopping spree. Their goal is to buy casinos in states where they can expand their sports betting operations.

So, what’s next?

It usually takes two to three months from a sale announcement for the casinos to agree on deal terms. Regulatory usually takes another two to three months. The deals for these casinos could be complete by the beginning of football season.

If Boyd Gaming looks to buy more casinos the deals likely won’t take effect until late 2018 or, more likely, early 2019. Legal Sports Report does a great job of tracking which states have been considering legalizing sports betting. Let’s take a look:

  • California
  • Connecticut (Native American casinos)
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Massachusetts
  • Michigan
  • Missouri
  • New York
  • Oklahoma (Native American casinos)
  • Ohio
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • West Virginia

It’s probably not a coincidence that the five casinos Boyd Gaming acquired earlier this year are in states that are considering legalizing sports betting. Additionally, their other casinos are also in states that are considering legalizing sports betting. Of course, Nevada has legal sports betting.

There are still potentially plenty of states open for Boyd Gaming acquisitions. Buying a casino anywhere in some states may suffice for some acquisitions. Boyd Gaming might also consider moving into some larger markets in some states since mobile sports betting could be slow to start for some of these states.