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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Even though no brick-and-mortar casinos were open in April because of the coronavirus pandemic, the Pennsylvania Gaming Control Board still released a gaming revenue report for the month. That's because gamblers could still access internet games of chance, and revenue figures released Monday reflected that.
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If more proof was needed that a state’s public health emergency declarations are often only as powerful as the willingness of individuals to follow them, we bring you skill games - the controversial play-for-pay video games crowded in twos and threes in bars, convenience stores and other businesses around the state.
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Penn National Gaming Inc has posted its Q1 financial results for the three months ended March 31, 2020. The firm reported Q1 revenues of $1.116m versus $1.282m year-on-year and a net loss of $608.6m compared with revenue of $41m in Q1 2019. Adjusted EBITDA was $154m, down from $306m.
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There may be no sports to bet on, but Wind Creek Bethlehem’s officially applied to the state for approval to operate a full sportsbook at its city casino as well as offer mobile and internet betting in Pennsylvania.
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Pennsylvania, New Jersey and Delaware allow for full online casino gaming, including poker, roulette and slots. Nevada, which allows online poker, bans other digital table games. As casinos across the country went dark under the novel coronavirus in March, eyes turned toward those digital life rafts: could they ride out the storm?
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