Penn National Gaming has ended the year on a very high note through the launch of three Barstool Sportsbooks. These launches are a great milestone in the Pennsylvania-based gaming company’s very ambitious expansion plans. Sports bettors in both states can therefore look forward to some very robust sports betting services going forward. 1h56y
Speaking on the launches, Penn National’s Senior Vice President of Regional Operations Rafael Verde pointed out that “the new designs incorporate the spirit of the Barstool Sports brand”. As such, their customer will be treated to very unique sports betting and dining experiences.
For anyone who is itching to try out the new Barstool Sportsbook offerings, they are based at Greektown Casino Hotel in Detroit, Michigan, Holly Casino Lawrenceburg in Indiana, and Ameristar East Chicago Casino & Hotel.
Just in Time 676471
Besides letting the company kick off 2021 on a rather high note, the new launches are also pretty timely as they come as operational restrictions loosen across the United States. The Michigan launch, for instance, came just as the state’s three commercial casinos reopened following the state-ordered three-week shutdown. This, like most other things this year, was a result of health and safety concerns due to the coronavirus pandemic.
The extension of the company’s footprint in both states is not too surprising especially considering that it already had a presence in both states. Penn National Gaming already had two casinos in Indiana and some presence in Michigan.
It also very helpful that the gaming and hospitality operator currently owns a chunky 36 percent stake in Barstool Sports. Ventures into any other regulated market across the United States are thus bound to be much easier to pull off.
Maryland Next in Line n2y1j
One of the other regulated gaming markets that Penn National Gaming currently has its sights set on include Maryland. The company has already entered into a definitive agreement with Gaming and Leisure Properties, Inc. to acquire the operations of Hollywood Casino Perryville, MD. This acquisition deal is estimated to be worth upwards of $3.1 million in cash. As expected, this is still subject to working capital adjustments.
Maryland just recently legalized online gambling after the overwhelming age of Question 2 on Election Day. It is now expected to be a very lucrative online gambling space, one that Penn National Gaming will certainly not be willing to miss out on. Give the company’s track record in other states including Pennsylvania, its success in Maryland is almost guaranteed.
