A 20-year strategic alliance with Capital Region Gaming LLC, trading as Rivers Casino & Resort, was signed this week by Penn National Gaming Inc (PNG).
Second skin access
Under the terms of the arrangement, its wholly-owned subsidiary, Penn Interactive, will acquire ‘second skin’ access to the market for mobile sports betting and icasino in New York, subject to enacted legislation and regulatory approvals.
Jon Kaplowitz, Senior Vice President of Interactive Gaming for Penn National, explained: “Gaining potential access to what could become one of the nation’s most lucrative sports betting markets has been a major priority for our company.
“We are hopeful that the New York State Assembly will follow those leading revenue producing states that allow for multiple skins for mobile sports betting. A state the size of New York certainly warrants open competition and a free market approach.”
Barstool Sports mobile sportsbook
In two states, Pennsylvania and Michigan, Penn Interactive already provides online sports wagering and plans to run its Barstool Sports mobile sportsbook app in at least 10 states by the end of 2021. In addition, on February 1, the company launched its icasino branded Barstool in Michigan.
Kaplowitz added: “We’re very encouraged by the initial results we’ve seen in Michigan, as we registered over 48,000 new customers and generated total handle of $27.5m during the first 10 days of operation.
“We remain very confident in our ability to win sizable share in new markets based on the power of the Barstool brand and media assets, which allows us to begin to leverage the meaningful cross-sell opportunities from the Barstool sportsbook, icasino and our mychoice loyalty program audiences. We hope to bring our unique and exciting brand of sports entertainment and icasino to the Empire State.”