Analysts split on whether Barstool app will elevate Penn National Gaming into Top 3 status among U.S. sportsbooks
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Casino operator Penn National Gaming’s long-awaited Barstool Sportsbook app will make its debut in Pennsylvania this month, while PNG offers rival Kindred Group market access in two more US states.
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A casino could be built near Penn State University’s flagship campus, after Pennsylvania on Wednesday found another taker for a mini-casino license, auctioning it for $10 million to a Philadelphia-area private equity investor.
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Unsurprisingly, the majority of sports bets were placed online, even though the state’s land-based sportsbooks reopened. According to the PGCB, 94.3% of the handle and 80.4% of the actual revenue came from online sports betting.
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Pennsylvania saw $164,782,229 wagered in July, compared to $89,002,562 in June, when casinos in the state started to reopening. But New Jersey, whose sports betting market is often compared to Pennsylvania’s, had $315,118,805 in total handle in July.
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Penn National Gaming’s much-anticipated Barstool Sportsbook app will launch in Pennsylvania in September, as the company says it won’t rush before then just to take advantage of the increasingly busy sports calendar.
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Pennsylvania’s retail and online sportsbooks rose in May, but lost out on about $275 million in potential bets, according to PlayPennsylvania estimates, while gamblers again turned to online casinos and poker rooms in record numbers. And with land-based casinos reopening in June and major sports slowly returning, the Keystone State is entering its recovery phase.
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