Boyd Gaming approached Penn Entertainment for deal: report
By Claudia Assis
Penn last year inked a deal with ESPN
Casino operator Boyd Gaming Corp. has approached Penn Entertainment Inc. with an eye towards an acquisition, Reuters reported Thursday, citing people familiar with the matter.
Boyd Gaming shares (BYD) edged lower in the after-hours session, after dropping 2% in the regular session. Penn Entertainment shares (PENN) rose 0.3%, after a 10% rally in the regular trading day.
The sources told Reuters that it was not certain that Penn will engage in negotiations with Boyd. Boyd operates 28 gaming entertainment properties in 11 states, according to its website.
Penn provides retail and online gaming and sports-betting entertainment. Last year, the company inked a deal with ESPN, rebranding its Barstool Sportsbook as ESPN Bet, and divested 100% of its stake in Barstool Sports.
-Claudia Assis
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06-20-24 1726ET
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