{"id":6393,"date":"2024-07-31T09:18:22","date_gmt":"2024-07-31T08:18:22","guid":{"rendered":"https:\/\/sbceurasia.com\/en\/?p=6393"},"modified":"2024-07-31T09:18:27","modified_gmt":"2024-07-31T08:18:27","slug":"boyd-gaming-ceo-addresses-penn-acquisition-rumors","status":"publish","type":"post","link":"https:\/\/sbceurasia.com\/en\/2024\/07\/31\/boyd-gaming-ceo-addresses-penn-acquisition-rumors\/","title":{"rendered":"Boyd Gaming CEO Addresses Penn Acquisition Rumors"},"content":{"rendered":"\n<p><strong>Boyd Gaming<\/strong> executives have finally addressed rumors of a multi-billion dollar acquisition of <strong>PENN Entertainment.<\/strong><\/p>\n\n\n\n<p>Boyd CEO <strong>Kevin Smith<\/strong> responded to a report from Reuters during the company\u2019s Q2 earnings call this week. The report detailed Boyd\u2019s interest in acquiring PENN Entertainment. The deal, which could be worth more than $10 billion, would be the largest merger in the gambling industry since Eldorado Resorts acquired Caesars Entertainment for $17.3 billion in 2020.<\/p>\n\n\n\n<p>\u201cIf you look back over the history of our company, the majority of our growth obviously has come through M&amp;A,\u201d said&nbsp; Smith during Thursday\u2019s earnings call. \u201cI think we\u2019ve developed a great expertise at it. We know how to buy properties and companies right, and we know how to extract value out of these companies once they\u2019re part of our portfolio.\u201d<\/p>\n\n\n\n<p>The PENN acquisition will be challenging for Boyd due to financial and regulatory hurdles.<\/p>\n\n\n\n<p>As of July 2024, Boyd has a market cap of $5.8 billion, and would need to raise additional capital to complete the PENN deal. Additionally, both Boyd and PENN would need to obtain regulatory approval in all markets where they operate.<\/p>\n\n\n\n<p>PENN would also need approval from <strong>The Walt Disney Company <\/strong>due to their partnership with <strong>ESPN<\/strong> to operate <strong>ESPN Bet.<\/strong><\/p>\n\n\n\n<p>\u201cIn terms of how we may finance a particular transaction, it\u2019s totally dependent on the specific facts and circumstances around the transaction,\u201d continued Smith. \u201cAnd so, it\u2019s hard to speculate on how we might do that.\u201d<\/p>\n\n\n\n<p>Last year, PENN entered into a licensing agreement with ESPN that saw <strong>Barstool Sportsbook<\/strong> rebranded as <strong>ESPN Bet<\/strong>. As part of the deal, PENN paid ESPN $1.5 billion in cash to launch the brand. In addition, ESPN was given the option to purchase 31.8 million shares of PENN stock with $500 million in warrants.<\/p>\n\n\n\n<p>The partnership between PENN and ESPN has an initial term of 10 years. In 2021, PENN also expanded its presence in Canada by acquiring Toronto-based <strong>Score Media Gaming<\/strong> for $2.1 billion. The company offers betting through <strong>theScore Bet <\/strong>platform.<\/p>\n\n\n\n<p>Boyd is eyeing a PENN acquisition as ESPN Bet\u2019s market share declines following its November 2023 launch. According to <strong>JMP Securities,<\/strong> ESPN Bet\u2019s market share in licensed jurisdictions was 3.2% in Q2 2024, up from 4.7% in Q1 2024.<\/p>\n\n\n\n<p>Boyd reported revenue of $967.5 million in Q2 2024, up from $917 million in the same period last year. The Nevada-based company, which operates 28 properties in 10 states, posted net income of $139.8 million in Q2 2024, up from $192.5 million in Q2 2023.<\/p>\n\n\n\n<p>Don\u2019t forget to subscribe to our <a href=\"https:\/\/t.me\/sbceurasia\">Telegram channel!<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boyd Gaming executives have finally addressed rumors of a multi-billion dollar acquisition of PENN Entertainment. Boyd CEO Kevin Smith responded to a report from Reuters during the company\u2019s Q2 earnings call this week. The report detailed Boyd\u2019s interest in acquiring PENN Entertainment. The deal, which could be worth more than $10 billion, would be the [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":6394,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[5,1],"tags":[9172,871,598,9176,9175,988,65,9174,9173,7286,7752,9177,8795],"class_list":["post-6393","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gambling","category-news","tag-boyd-gaming","tag-caesars-entertainment","tag-deal","tag-earnings-report","tag-eldorado-resorts","tag-espn","tag-gaming","tag-kevin-smith","tag-merger","tag-penn-entertainment","tag-reuters","tag-score-media-gaming","tag-the-walt-disney-company"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Boyd Gaming CEO Addresses Penn Acquisition Rumors - SBC EURASIA EN<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sbceurasia.com\/en\/2024\/07\/31\/boyd-gaming-ceo-addresses-penn-acquisition-rumors\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Boyd Gaming CEO Addresses Penn Acquisition Rumors - SBC EURASIA EN\" \/>\n<meta property=\"og:description\" content=\"Boyd Gaming executives have finally addressed rumors of a multi-billion dollar acquisition of PENN Entertainment. Boyd CEO Kevin Smith responded to a report from Reuters during the company\u2019s Q2 earnings call this week. The report detailed Boyd\u2019s interest in acquiring PENN Entertainment. The deal, which could be worth more than $10 billion, would be the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/sbceurasia.com\/en\/2024\/07\/31\/boyd-gaming-ceo-addresses-penn-acquisition-rumors\/\" \/>\n<meta property=\"og:site_name\" content=\"SBC EURASIA EN\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-31T08:18:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-31T08:18:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/resourcesen.sbceurasia.com\/sbccisen\/sites\/2\/2024\/07\/Boyd-x-Penn.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Maria Khomeriki\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Maria Khomeriki\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/sbceurasia.com\/en\/2024\/07\/31\/boyd-gaming-ceo-addresses-penn-acquisition-rumors\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/sbceurasia.com\/en\/2024\/07\/31\/boyd-gaming-ceo-addresses-penn-acquisition-rumors\/\"},\"author\":{\"name\":\"Maria Khomeriki\",\"@id\":\"https:\/\/sbceurasia.com\/en\/#\/schema\/person\/f6f1bec1f527da78057fa0c8d3b56dd6\"},\"headline\":\"Boyd Gaming CEO Addresses Penn Acquisition Rumors\",\"datePublished\":\"2024-07-31T08:18:22+00:00\",\"dateModified\":\"2024-07-31T08:18:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/sbceurasia.com\/en\/2024\/07\/31\/boyd-gaming-ceo-addresses-penn-acquisition-rumors\/\"},\"wordCount\":424,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/sbceurasia.com\/en\/2024\/07\/31\/boyd-gaming-ceo-addresses-penn-acquisition-rumors\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/resourcesen.sbceurasia.com\/sbccisen\/sites\/2\/2024\/07\/Boyd-x-Penn.png\",\"keywords\":[\"Boyd Gaming\",\"Caesars Entertainment\",\"deal\",\"Earnings Report\",\"Eldorado Resorts\",\"ESPN\",\"gaming\",\"Kevin Smith\",\"Merger\",\"PENN Entertainment\",\"Reuters\",\"Score Media Gaming\",\"The Walt Disney Company\"],\"articleSection\":[\"Gambling\",\"News\"],\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/sbceurasia.com\/en\/2024\/07\/31\/boyd-gaming-ceo-addresses-penn-acquisition-rumors\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/sbceurasia.com\/en\/2024\/07\/31\/boyd-gaming-ceo-addresses-penn-acquisition-rumors\/\",\"url\":\"https:\/\/sbceurasia.com\/en\/2024\/07\/31\/boyd-gaming-ceo-addresses-penn-acquisition-rumors\/\",\"name\":\"Boyd Gaming CEO Addresses Penn Acquisition Rumors - SBC EURASIA EN\",\"isPartOf\":{\"@id\":\"https:\/\/sbceurasia.com\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/sbceurasia.com\/en\/2024\/07\/31\/boyd-gaming-ceo-addresses-penn-acquisition-rumors\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/sbceurasia.com\/en\/2024\/07\/31\/boyd-gaming-ceo-addresses-penn-acquisition-rumors\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/resourcesen.sbceurasia.com\/sbccisen\/sites\/2\/2024\/07\/Boyd-x-Penn.png\",\"datePublished\":\"2024-07-31T08:18:22+00:00\",\"dateModified\":\"2024-07-31T08:18:27+00:00\",\"author\":{\"@id\":\"https:\/\/sbceurasia.com\/en\/#\/schema\/person\/f6f1bec1f527da78057fa0c8d3b56dd6\"},\"breadcrumb\":{\"@id\":\"https:\/\/sbceurasia.com\/en\/2024\/07\/31\/boyd-gaming-ceo-addresses-penn-acquisition-rumors\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/sbceurasia.com\/en\/2024\/07\/31\/boyd-gaming-ceo-addresses-penn-acquisition-rumors\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/sbceurasia.com\/en\/2024\/07\/31\/boyd-gaming-ceo-addresses-penn-acquisition-rumors\/#primaryimage\",\"url\":\"https:\/\/resourcesen.sbceurasia.com\/sbccisen\/sites\/2\/2024\/07\/Boyd-x-Penn.png\",\"contentUrl\":\"https:\/\/resourcesen.sbceurasia.com\/sbccisen\/sites\/2\/2024\/07\/Boyd-x-Penn.png\",\"width\":1200,\"height\":600},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/sbceurasia.com\/en\/2024\/07\/31\/boyd-gaming-ceo-addresses-penn-acquisition-rumors\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/sbceurasia.com\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Boyd Gaming CEO Addresses Penn Acquisition Rumors\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/sbceurasia.com\/en\/#website\",\"url\":\"https:\/\/sbceurasia.com\/en\/\",\"name\":\"SBC EURASIA EN\",\"description\":\"SBC EURASIA\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/sbceurasia.com\/en\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/sbceurasia.com\/en\/#\/schema\/person\/f6f1bec1f527da78057fa0c8d3b56dd6\",\"name\":\"Maria Khomeriki\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/sbceurasia.com\/en\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/27621860db8f1dbea9ee0e31b9ebafe07333552b331819831ffcb31ccb265ac2?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/27621860db8f1dbea9ee0e31b9ebafe07333552b331819831ffcb31ccb265ac2?s=96&d=mm&r=g\",\"caption\":\"Maria Khomeriki\"},\"url\":\"https:\/\/sbceurasia.com\/en\/author\/maria\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Boyd Gaming CEO Addresses Penn Acquisition Rumors - SBC EURASIA EN","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/sbceurasia.com\/en\/2024\/07\/31\/boyd-gaming-ceo-addresses-penn-acquisition-rumors\/","og_locale":"en_GB","og_type":"article","og_title":"Boyd Gaming CEO Addresses Penn Acquisition Rumors - SBC EURASIA EN","og_description":"Boyd Gaming executives have finally addressed rumors of a multi-billion dollar acquisition of PENN Entertainment. Boyd CEO Kevin Smith responded to a report from Reuters during the company\u2019s Q2 earnings call this week. The report detailed Boyd\u2019s interest in acquiring PENN Entertainment. The deal, which could be worth more than $10 billion, would be the [&hellip;]","og_url":"https:\/\/sbceurasia.com\/en\/2024\/07\/31\/boyd-gaming-ceo-addresses-penn-acquisition-rumors\/","og_site_name":"SBC EURASIA EN","article_published_time":"2024-07-31T08:18:22+00:00","article_modified_time":"2024-07-31T08:18:27+00:00","og_image":[{"width":1200,"height":600,"url":"https:\/\/resourcesen.sbceurasia.com\/sbccisen\/sites\/2\/2024\/07\/Boyd-x-Penn.png","type":"image\/png"}],"author":"Maria Khomeriki","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Maria Khomeriki","Estimated reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/sbceurasia.com\/en\/2024\/07\/31\/boyd-gaming-ceo-addresses-penn-acquisition-rumors\/#article","isPartOf":{"@id":"https:\/\/sbceurasia.com\/en\/2024\/07\/31\/boyd-gaming-ceo-addresses-penn-acquisition-rumors\/"},"author":{"name":"Maria Khomeriki","@id":"https:\/\/sbceurasia.com\/en\/#\/schema\/person\/f6f1bec1f527da78057fa0c8d3b56dd6"},"headline":"Boyd Gaming CEO Addresses Penn Acquisition Rumors","datePublished":"2024-07-31T08:18:22+00:00","dateModified":"2024-07-31T08:18:27+00:00","mainEntityOfPage":{"@id":"https:\/\/sbceurasia.com\/en\/2024\/07\/31\/boyd-gaming-ceo-addresses-penn-acquisition-rumors\/"},"wordCount":424,"commentCount":0,"image":{"@id":"https:\/\/sbceurasia.com\/en\/2024\/07\/31\/boyd-gaming-ceo-addresses-penn-acquisition-rumors\/#primaryimage"},"thumbnailUrl":"https:\/\/resourcesen.sbceurasia.com\/sbccisen\/sites\/2\/2024\/07\/Boyd-x-Penn.png","keywords":["Boyd Gaming","Caesars Entertainment","deal","Earnings Report","Eldorado Resorts","ESPN","gaming","Kevin Smith","Merger","PENN Entertainment","Reuters","Score Media Gaming","The Walt Disney Company"],"articleSection":["Gambling","News"],"inLanguage":"en-GB","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/sbceurasia.com\/en\/2024\/07\/31\/boyd-gaming-ceo-addresses-penn-acquisition-rumors\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/sbceurasia.com\/en\/2024\/07\/31\/boyd-gaming-ceo-addresses-penn-acquisition-rumors\/","url":"https:\/\/sbceurasia.com\/en\/2024\/07\/31\/boyd-gaming-ceo-addresses-penn-acquisition-rumors\/","name":"Boyd Gaming CEO Addresses Penn Acquisition Rumors - SBC EURASIA EN","isPartOf":{"@id":"https:\/\/sbceurasia.com\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/sbceurasia.com\/en\/2024\/07\/31\/boyd-gaming-ceo-addresses-penn-acquisition-rumors\/#primaryimage"},"image":{"@id":"https:\/\/sbceurasia.com\/en\/2024\/07\/31\/boyd-gaming-ceo-addresses-penn-acquisition-rumors\/#primaryimage"},"thumbnailUrl":"https:\/\/resourcesen.sbceurasia.com\/sbccisen\/sites\/2\/2024\/07\/Boyd-x-Penn.png","datePublished":"2024-07-31T08:18:22+00:00","dateModified":"2024-07-31T08:18:27+00:00","author":{"@id":"https:\/\/sbceurasia.com\/en\/#\/schema\/person\/f6f1bec1f527da78057fa0c8d3b56dd6"},"breadcrumb":{"@id":"https:\/\/sbceurasia.com\/en\/2024\/07\/31\/boyd-gaming-ceo-addresses-penn-acquisition-rumors\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/sbceurasia.com\/en\/2024\/07\/31\/boyd-gaming-ceo-addresses-penn-acquisition-rumors\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/sbceurasia.com\/en\/2024\/07\/31\/boyd-gaming-ceo-addresses-penn-acquisition-rumors\/#primaryimage","url":"https:\/\/resourcesen.sbceurasia.com\/sbccisen\/sites\/2\/2024\/07\/Boyd-x-Penn.png","contentUrl":"https:\/\/resourcesen.sbceurasia.com\/sbccisen\/sites\/2\/2024\/07\/Boyd-x-Penn.png","width":1200,"height":600},{"@type":"BreadcrumbList","@id":"https:\/\/sbceurasia.com\/en\/2024\/07\/31\/boyd-gaming-ceo-addresses-penn-acquisition-rumors\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/sbceurasia.com\/en\/"},{"@type":"ListItem","position":2,"name":"Boyd Gaming CEO Addresses Penn Acquisition Rumors"}]},{"@type":"WebSite","@id":"https:\/\/sbceurasia.com\/en\/#website","url":"https:\/\/sbceurasia.com\/en\/","name":"SBC EURASIA EN","description":"SBC EURASIA","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/sbceurasia.com\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/sbceurasia.com\/en\/#\/schema\/person\/f6f1bec1f527da78057fa0c8d3b56dd6","name":"Maria Khomeriki","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/sbceurasia.com\/en\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/27621860db8f1dbea9ee0e31b9ebafe07333552b331819831ffcb31ccb265ac2?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/27621860db8f1dbea9ee0e31b9ebafe07333552b331819831ffcb31ccb265ac2?s=96&d=mm&r=g","caption":"Maria Khomeriki"},"url":"https:\/\/sbceurasia.com\/en\/author\/maria\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/sbceurasia.com\/en\/wp-json\/wp\/v2\/posts\/6393","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sbceurasia.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sbceurasia.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sbceurasia.com\/en\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/sbceurasia.com\/en\/wp-json\/wp\/v2\/comments?post=6393"}],"version-history":[{"count":1,"href":"https:\/\/sbceurasia.com\/en\/wp-json\/wp\/v2\/posts\/6393\/revisions"}],"predecessor-version":[{"id":6395,"href":"https:\/\/sbceurasia.com\/en\/wp-json\/wp\/v2\/posts\/6393\/revisions\/6395"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sbceurasia.com\/en\/wp-json\/wp\/v2\/media\/6394"}],"wp:attachment":[{"href":"https:\/\/sbceurasia.com\/en\/wp-json\/wp\/v2\/media?parent=6393"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sbceurasia.com\/en\/wp-json\/wp\/v2\/categories?post=6393"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sbceurasia.com\/en\/wp-json\/wp\/v2\/tags?post=6393"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}