The legislation to legalize online gambling is getting serious attention in just about every state in the United States, and therefore it seems only natural that big business sensing the growth within online gambling would hop on the market. Hence, it was no surprise when the news came in about Boyd Gaming and Valley Forge Casino.
Why Is This Significant?
Pennsylvania is the fourth state in the United States to officially recognize, allow and set guidelines on the principles for online gambling facilitators. This was one of the major factors playing into Boyd Gaming’s decision to purchase Valley Forge Casino Resort which was sold for an immense $280.5 million; the deal will be fully wrapped up by the end of the third quarter in 2018 if all goes to plan according to Cards Chat.com.
Pennsylvania has a very large gambling presence and will be good territory for Boyd Gaming to expand into the online gambling business; this is further amplified by the fact that when due to Penn National purchasing Pinnacle Entertainment into its holdings Boyd Gaming will receive holdings within numerous other states. Some examples include Ameristar Kansas City, Ameristar in St Charles and Indiana’s Belterra Casino Resort as well.
The Impact That This Acquisition Will Have
Now if you haven’t realised this by now this is major news within the world of online gambling and casino gambling as well, through the avenue of Pennsylvania Boyd Gaming will strike out into new territory and possibly help to make a critical example of how positive online gambling could be for the local community, in many ways. An example of a benefit to the online gambling community could be the fact that through the extra revenues earned, further taxes may be drawn in by the government which will help fuel projects in sectors such as education or job creation.
Upon the news of Boyd Gaming gaining the Valley Forge Casino, their overall stock presence rose by 2.4%, evidently the rest of the world is just as excited by their move into online gambling as we are. Through Boyd Gaming the Pennsylvanian casino will hopefully raise its market share through expanding into new avenues such as online gambling and through the addition of further facilities to their pre-existing tables and slots. All that is really left to say is, when will the rest of the states in America legalize online gambling and more importantly, when will you be taking your next trip to Valley Forge Casino in Pennsylvania?