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Penn National to Launch Standalone Barstool Sports Sportsbook
Last updated on October 31st, 2020 at 07:21 am
Penn National Gaming hit the jackpot with the launch of the Barstool Sports app last month. It got almost $80 million in bets since its release. Thus, the company is planning to launch standalone Barstool Sports sportsbook soon.
The Barstool sports betting app received $78 million in bets from 30,000 players. The app was launched on September 18. Thus, Penn National will put the Barstool Sports brand into retail sportsbooks.
The casino operator acquired a 36 percent stake in Barstool Sports last January for $163 million. After buying into the brand, Penn National hoped to attract younger audiences to physical casinos and online gambling assets. At present, eighty percent of players using the Barstool Sports app are between the ages of 21 and 34.
Launch Standalone Barstool Sports Sportsbook
According to sportsbook pay per head reports, Barstool founder Dave Portnoy promoted the app on social media platforms. His live streams about the mobile sportsbook got more than 4.5 million views.
The Penn National-Barstool Sports partnership helped them save on marketing based on sports betting bookie software sources. It was a win-win solution for all parties. Penn National got more buzz from the partnership than what they got when they spent $10 million on TV ad campaigns.
At present, Penn National is targeting Michigan for its Barstool app. Also, the company is hoping to launch the app in the state later this year. Penn National wants to use its Barstool branding in its casinos. The casino operator wants to put up Barstool-themed retail sportsbooks in various casinos before the end of the year.
Penn National wants to put up Barstool Sports sportsbooks in Greektown Casino-Hotel in Detroit, Ameristar Black Hawk in Colorado, and Ameristar East Chicago. Also, it intends to open standalone Barstool sportsbooks outside of casinos.
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