Penn National Opens First Retail Barstool Sportsbook in the US
Penn National Gaming (PNG) has recently announced the launch of its first-ever retail-branded Barstool Sportsbook in the United States.
The casino company opened its sports betting shop on November 5 at the Ameristar Casino Resort Spa Black Hawk in Colorado, where it is based.
Located on the second floor of the Colorado casino, the new sportsbook features sports betting kiosks and ticket-writing stations. Besides, it has a video wall and odds boards enabling customers to watch live sports events and get up-to-date betting odds.
This week’s launch is the outcome of a partnership signed earlier this year on January 29, which saw PNG acquiring a 36% stake in Barstool for $163 million in cash, besides convertible preferred stock. This partnership which may last 40 years has made Penn National the exclusive gaming partner of Barstool Sports for its retail sports betting and online casino projects.
In addition, PNG can invite another partner to buy parts of its shares in Barstool. The company was also given customary governance rights, including two seats at Barstool Sport’s board of seven persons.
PNG began by taking over land-based sportsbooks and started developing a mobile product in collaboration with Kambi.
Ameristar Black Hawk, The First Retail Location for Barstool
While expressing utmost excitement over the recent opening at Ameristar Black Hawk, President and CEO of Penn National Jay Snowden said, “This will be the first of many new retail locations for Barstool at our casinos across the country. Each will incorporate features that reflect the spirit of the Barstool Sports brand, resulting in one-of-a-kind experiences that we hope our customers will thoroughly enjoy.”
Penn National will offer a state-of-the-art sports betting experience to customers at The Ameristar Black Hawk, with ticket writer stations that will provide thousands of sports betting options for the customers. The newly built betting counter, a video wall (24’ by 12’ in size), and large odds boards create an environment most conducive for enthusiasts to enjoy a unique betting experience in close proximity to various televisions where they can enjoy live sports action from across the world.
“Our customers are super excited to start betting on sports,” said Sean Demeule, General Manager at Ameristar Black Hawk. He said the passion for professional and college sports is deep-rooted in this region and added that the company looks forward to seeing Black Hawk as a destination for fans all-year-around.
The full opening of this facility comes after a period of testing that took two months. Soon, more Barstool retail sportsbooks will be opened across the nation.
Last week PNG reported a 16.6% dip in revenue for its third quarter despite record earnings as the business bounced back from pandemic-led closures. The company reported $1.13 billion in revenue total, with a net profit of $141.2 million for the period, reflecting a 223.1% jump.
Around $993.6 million of revenue came from gaming, including a $29 million bet on the Barstool Sports app during September. The overall revenue from the Pennsylvania sports betting market was reported as around $6.3 million in September.