Penn National Gaming looking for second skin access to New York with Rivers Casino & Resort partnership

Image source: Shutterstock

Penn National Gaming Inc has this week entered into a 20-year strategic partnership with Capital Region Gaming LLC, trading as Rivers Casino & Resort

Under the terms of the deal its wholly-owned subsidiary, Penn Interactive, will gain ‘second skin’ access to the New York mobile sports betting and icasino market, subject to legislation being enacted and regulatory approvals.

Jon Kaplowitz, Penn National’s Sr Vice President of Interactive Gaming, explained: “Gaining potential access to what could become one of the nation’s most lucrative sports betting markets has been a major priority for our company. 

“We are hopeful that the New York State Assembly will follow those leading revenue producing states that allow for multiple skins for mobile sports betting. A state the size of New York certainly warrants open competition and a free market approach.” 

Penn Interactive currently offers online wagering on sports in two states – Pennsylvania and Michigan – and anticipates operating its Barstool Sports mobile sportsbook app in at least 10 states by the end of 2021. In addition, the firm launched its Barstool-branded icasino in Michigan on February 1.

Kaplowitz added: “We’re very encouraged by the initial results we’ve seen in Michigan, as we registered over 48,000 new customers and generated total handle of $27.5m during the first 10 days of operation. 

“We remain very confident in our ability to win sizable share in new markets based on the power of the Barstool brand and media assets, which allows us to begin to leverage the meaningful cross-sell opportunities from the Barstool sportsbook, icasino and our mychoice loyalty program audiences. We hope to bring our unique and exciting brand of sports entertainment and icasino to the Empire State.”