Barstool Sportsbook Launches in Indiana Online Sports Betting Market

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Barstool Sportsbook launched its online sports betting app Tuesday in the Indiana sports betting market, ahead of the NBA playoffs and the Indianapolis 500. Penn National Gaming had announced the news last Friday in a news release.

The launch comes after the Indiana Gaming Commission approved the parent company’s application to offer mobile sports betting in the Hoosier State.

Friday’s news release had also unveiled the company’s plans to launch its Barstool Sportsbook app on both Android and iOS, as well as for the desktop users, at 10:00 a.m. CST on Monday 18, 2021, pending final approval from the regulatory authority.

Barstool’s Fourth Market

The Wyoming-based company launches its app in the fourth state, joining Pennsylvania, Michigan, and Illinois. With the launch, Penn National Gaming follows its growth plans unveiled earlier by CEO Jay Snowden in a Feb. 4 earnings call. Snowden had said the Barstool would go live in ten states by the kick of the upcoming football season.

“We are excited to be going live with our mobile Barstool Sportsbook in Indiana at the start of the NBA’s new playoff format,” he said in Friday’s release.

Snowden also hailed the company’s retail Barstool Sportsbook success at Ameristar Casino East Chicago and Hollywood Casino Lawrenceburg since opening last December. He added that the same success will be reflected in Indiana, where Hoosiers “will be able to engage with Dave Portnoy, Dan ‘Big Cat’ Katz, and all of the Barstool personalities via the Barstool app.”

A Timely Launch

The eventful launch of Penn National’s Barstool Sportsbook at the start of the NBA’s new playoff format allows the company to offer enticing promotional bets to the Hoosiers. Those promotional offers will include risk-free wagers, parlay insurance, and multiple ways to wager on the professional basketball tournament and Indianapolis 500, the annual automobile race scheduled to be held on May 30. The NBA’s play-in tournament kicks off Tuesday.

“As the sole gaming operator with a fully integrated sports media and entertainment partner, Barstool has the unique ability to attract new and existing customers to enjoy our retail and interactive gaming and sports betting… as evidenced by our performance to date in Pennsylvania, Michigan, and Illinois,” Snowden said.

He said that Barstool Sportsbook’s launch in the Hoosier State is another key step in the company’s evolution into the leading omnichannel gaming provider. In addition, the President and CEO of Penn National reiterated the company’s resolve to leverage the building momentum for the Barstool app with the additional launches Penn National has planned for 2021.

Penn National Gaining Ground in US Sports Betting

Penn National had earlier reported revenue of $1.27 billion in its first quarterly report of 2021. It also reported an adjusted EBITDAR (earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs) of $447 million.

Upon the launch of Indiana online sports betting, Mr. Snowden thanked the IGC on behalf of the company for allowing regulatory approval.

Penn National Gaming claims to be one of the nation’s largest and most diversified gaming entities, spanning 19 states. The company’s 41 properties feature nearly 50,000 gaming machines, 1300 table games, and 8,800 hotel rooms. It is operated under multiple brands, including Ameristar, Hollywood, L’Auberge.

In 2020, Penn National partnered with Barstool Sports, founded by David Portnoy in 2003. Since then, Barstool exclusively promotes Penn’s land-based and digital casinos and sports betting offerings, including the Barstool Sportsbook app to its nationwide audience.

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