Penn National Gaming CEO Jay Snowden said last week that the operator’s Barstool online sports betting app will be ready in time for the 2020 NFL football season.
Penn acquired a 36 percent stake in Barstool Sports, Inc. in January for $163 million, with an option to increase its stake in the sports media company to 50 percent for another $62 million and eventually own it outright for a total of $450 million. In the same deal, Barstool granted Penn rights as its exclusive gaming partner for up to 40 years, with the sole right to utilize the Barstool Sports brand for all online and retail sports betting products.
Snowden said in a keynote panel at the SBC Digital sports betting conference last week moderated by Global Gaming Business Publisher Roger Gros that the app—which includes a “traveling wallet” feature that enables its use in multiple states—eventually will be rolled out to all Penn’s 41 properties, covering 19 states, although it initially will be available only in the operator’s home state of Pennsylvania.
“There are many important states, including Illinois and Michigan, but we wanted to get it launched in one state first,” Snowden said. “We’ll have it fully launched when the major sports are back at it.”
Barstool has been a popular online wagering site, with its own distinctive characters featured as hosts for various wagers. Under Penn’s agreement with Barstool the operator’s retail sportsbooks around the country are being rebranded as Barstool sports locations, with events featuring Barstool personalities during major sporting events.
“Barstool went to other locations for these events, such as the Dunkin’ Donuts parking outside a stadium,” Snowden said. “Now, they will have a home at one of our casinos. We believe Barstool will bring a lot of excitement into our properties.”
