Penn National Gaming to Launch Barstool Sportsbook Mobile App in Illinois
March 09 2021 - 4:05PM
Business Wire
Penn National Gaming, Inc. (Nasdaq: PENN)(“Penn National” or the
“Company”) announced today that the Illinois Gaming Board (“IGB”)
has approved the Company’s application to offer online sports
wagering in Illinois. The Company plans to launch its Barstool
Sportsbook mobile app on iOS and android, as well as for desktop
users, at 12:00pm CST on March 11th, 2021.
“We are extremely excited to launch our online Barstool
Sportsbook in Illinois just as the college basketball regular
season wraps up and bettors begin their preparations for March
Madness,” said Jay Snowden, President and CEO of Penn National.
“Dan ‘Big Cat’ Katz started Barstool Chicago in 2012 and has worked
with Chief, Eddie, Carl, and ‘White Sox’ Dave to develop a
tremendous following across the state by covering all things Windy
City through daily blogs and social media content, including the
immensely popular ‘Red Line Radio’ podcast. As the only gaming
operator with a fully integrated sports media and entertainment
partner, our customers in Illinois will now be able to engage with
these Barstool personalities through the online Barstool Sportsbook
and enjoy their unique take on Chicago sports.”
Penn National expects to offer a number of promotional bets
during the launch of the mobile Barstool Sportsbook in Illinois,
including odds boosts on the Cubs and White Sox to win the 2021
World Series, a $1,000 risk-free bet after an initial deposit, and
an array of wagering options related to the upcoming March Madness
college basketball tournament, among others.
“On behalf of the Penn Interactive team and our partners at
Barstool Sports, I want to thank the IGB for their approval of our
online sports betting application,” added Mr. Snowden. “Alongside
our risk management and platform providers, Kambi and White Hat
Gaming, we have developed an online sports betting app which is
attracting new and existing Penn National customers as evidenced by
our performance to-date in Michigan and Pennsylvania. We are eager
to leverage the building momentum for the Barstool Sportsbook app
with our launch in Illinois and the additional launches we have
planned for 2021.”
About Penn National Gaming
With the nation's largest and most diversified regional gaming
footprint, including 41 properties across 19 states, Penn National
continues to evolve into a highly innovative omni-channel provider
of retail and online gaming, live racing and sports betting
entertainment. The Company's properties feature approximately
50,000 gaming machines, 1,300 table games and 8,800 hotel rooms,
and operate under various well-known brands, including Hollywood,
Ameristar, and L'Auberge. Our wholly-owned interactive division,
Penn Interactive, operates retail sports betting across the
Company's portfolio, as well online social casino, bingo, and
iCasino products. In February 2020, Penn National entered into a
strategic partnership with Barstool Sports, whereby Barstool is
exclusively promoting the Company's land-based and online casinos
and sports betting products, including the Barstool Sportsbook
mobile app, to its national audience. The Company's omni-channel
approach is bolstered by the mychoice loyalty program, which
rewards and recognizes its over 20 million members for their
loyalty to both retail and online gaming and sports betting
products with the most dynamic set of offers, experiences, and
service levels in the industry.
About Barstool Sports
Founded in 2003 by David Portnoy, Barstool Sports is a leading
digital sports, entertainment and media platform that delivers
original content across blogs, podcasts, radio, video and social,
supported by nearly 70 dedicated personalities. It benefits from
its base of approximately 54 million monthly unique visitors,
reaching an estimated 36% of males and 30% of females in the
Millennial and Generation Z generations across the United States.
In 2019, Barstool Sports grew by approximately 65%, delivering
nearly $100 million in revenue from digital and audio advertising,
ecommerce, events, licensing and subscription.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995. These statements can be identified by the use of
forward-looking terminology such as “expects,” “believes,”
“estimates,” “projects,” “intends,” “plans,” “goal,” “seeks,”
“may,” “will,” “should,” or “anticipates” or the negative or other
variations of these or similar words, or by discussions of future
events, strategies or risks and uncertainties. Such statements are
all subject to risks, uncertainties and changes in circumstances
that could significantly affect the Company’s future financial
results and business. Accordingly, the Company cautions that the
forward-looking statements contained herein are qualified by
important factors that could cause actual results to differ
materially from those reflected by such statements. Such factors
include, but are not limited to, risks related to the following:
(a) the magnitude and duration of the impact of the COVID-19
pandemic on capital markets, general economic conditions,
unemployment, consumer spending and the Company’s liquidity,
financial condition, supply chain, operations and personnel; (b)
the launch of the Barstool Sportsbook app is subject to regulatory
approvals, which may be delayed; (c) the impact of significant
competition from other companies for online sports betting; (d) the
Company’s ability to achieve the expected financial returns related
to its Barstool Sportsbook app; (e) the risk of failing to maintain
the integrity of the Company’s information technology
infrastructure and safeguard its business, employee and customer
data in connection with the Company’s online sports betting; (f)
the Company’s and its business partners’ ability to obtain various
regulatory approvals required to own, develop and/or operate the
Barstool Sportsbook app may be delayed or may not occur; and (g)
other factors included in “Risk Factors” of the Company’s Annual
Report on Form 10-K for the year ended December 31, 2020,
subsequent Quarterly Reports on Form 10-Q and Current Reports on
Form 8-K, each as filed with the U.S. Securities and Exchange
Commission. The Company does not intend to update publicly any
forward-looking statements except as required by law. In light of
these risks, uncertainties and assumptions, the forward-looking
events discussed in this press release may not occur.
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version on businesswire.com: https://www.businesswire.com/news/home/20210309006006/en/
Eric Schippers Senior Vice President, Public Affairs Penn
National Gaming 610/373-2400 Joseph N. Jaffoni, Richard Land JCIR
212/835-8500 or penn@jcir.com
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