On Monday, Penn National Gaming announced the formation of Penn Game Studios, an in-house content development team focused on creating iCasino content, signalling a focus on online gaming.
In addition to the in-house studio, Penn National reported on Monday that it had acquired Massachusetts-based HitPoint Studios and its spun-off real money gaming company, LuckyPoint.
Important step in company evolution
Jay Snowden, president and chief executive officer of Penn National, said in the release: “We are incredibly excited to be launching Penn Game Studios, which is another important step in our company’s evolution into the leading omni-channel provider of retail and interactive gaming, sports betting and entertainment.
“We will now have the ability to create exclusive content for our audiences, further leverage the Barstool Sports brand and our database of 20 million mychoice customers, and create cross-marketing opportunities with our brick-and-mortar facilities.”
In February 2020 Penn National partnered with Barstool sports acquiring a 36% stake in the venture.
More ways to expand
In New Jersey, Pennsylvania, Delaware, West Virginia, and Michigan, online casino games are legal. Penn National could be searching for more ways to expand its online casino after launching its Barstool Sportsbook brand in Pennsylvania, Michigan, and Illinois. Since the company already has an online casino in Michigan, it makes sense that Pennsylvania will be next, given that Penn National is located there.
HitPoint CEO Paul Hake said in the release said: “We are thrilled to be joining Penn National and bringing our expertise to the company’s interactive division. We look forward to adding our creativity, design and engineering skills to an already well-accomplished team at Penn National.”
According to the press release, HitPoint and LuckyPoint employees will be incorporated into Penn National’s digital division, Penn Interactive.