Penn National Gaming Launches Barstool Sportsbook Mobile App in Indiana


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WYOMISSING, PA – (BUSINESS WIRE) – Penn National Gaming, Inc. (Nasdaq: PENN) (“Penn National” or the “Company”) today announced that the Indiana Gaming Commission (“IGC”) has approved the Company’s request to offer online sports betting in Indiana. Penn National plans to launch its Barstool Sportsbook mobile app on iOS and Android, as well as for desktop users, at 10:00 a.m. CST on May 18, 2021, pending final regulatory approvals. Once live, Indiana will become the company’s fourth-largest online sports betting market, following already successful launches in Pennsylvania, Michigan and Illinois.

“We are excited to launch our online sports book Barstool in Indiana at the start of the new NBA playoff format,” said Jay Snowden, President and CEO of Penn National. “Our retail bar stool sports betting at Ameristar Casino East Chicago and Hollywood Casino Lawrenceburg have been very well received by our customers since opening last December, and now Hoosiers statewide will be able to engage with them. Dave Portnoy, Dan ‘Big Cat’ Katz, and all the Barstool personalities through the Barstool Sportsbook app. ”

Penn National plans to offer a number of unique promotional bets following the launch of mobile sportsbook Barstool in Indiana, including risk-free betting, paray insurance, and an array of betting options related to the upcoming playoffs in Indiana. the NBA and Indianapolis 500.

“On behalf of the Penn Interactive team, our partners at Barstool Sports and our platform and risk management providers, I would like to thank the IGC for their endorsement of our online sports betting application,” said added Mr. Snowden. “As the only gaming operator with a fully integrated media and entertainment partner, we have the unique ability to attract new and existing Penn National customers to take advantage of our gaming, sports betting and interactive entertainment offerings at detail, as evidenced by our performance to date in Illinois, Michigan and Pennsylvania. Our launch in Indiana is another important step in our company’s evolution to become the leading provider of omnichannel games, and we look forward to building on the development momentum of the Barstool Sportsbook app with the additional launches that we have planned for 2021. ”

About Penn National Gaming

With the largest and most diverse regional gaming footprint in the country, including 41 properties in 19 states, Penn National continues to evolve into a highly innovative omnichannel provider of retail and online gaming, live racing. and sports betting. The company’s properties include approximately 50,000 slot machines, 1,300 table games and 8,800 hotel rooms, and operate under a variety of well-known brands including Hollywood, Ameristar and L’Auberge. Our wholly-owned interactive division, Penn Interactive, operates retail sports betting across the company’s entire portfolio, as well as online social casino, bingo and iCasino products. In February 2020, Penn National entered into a strategic partnership with Barstool Sports, whereby Barstool exclusively promotes the Company’s land and online casinos and sports betting products, including the Barstool Sportsbook mobile app, to its national audience. The company’s omnichannel approach is enhanced by the mychoice loyalty program, which rewards and recognizes more than 20 million members for their loyalty to retail and online gaming and sports betting products with the most dynamic set of offers, experiences and levels of service in Industry.

About Barstool Sports

Founded in 2003 by David Portnoy, Barstool Sports is a leading sports, entertainment and digital media platform that delivers original content on blogs, podcasts, radio, video and social media, supported by nearly 70 dedicated personalities. Barstool Sports has over 100 million followers across all social media platforms, reaching approximately 36% of Millennial and Generation Z males and 30% of females across the United States. In 2019, Barstool Sports grew by around 65%, generating almost $ 100 million in revenue from digital and audio advertising, e-commerce, events, licenses and subscriptions.

Forward-looking statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking terms such as “expects”, “believes”, “believes” , “Projects”, “intends”, “plans”, “objective”, “seeks”, “may”, “will”, “should” or “anticipate” or negative or other variations of these words or similar words, or by discussions of future events, strategies or risks and uncertainties. These statements are all subject to risks, uncertainties and changes in circumstances that could have a material effect on the Company’s future financial results and activities. Accordingly, the Company cautions that the forward-looking statements contained herein are qualified by important factors which could cause actual results to differ materially from those reflected by such statements. These factors include, but are not limited to, risks related to the following: (a) the magnitude and duration of the impact of the COVID-19 pandemic on financial markets, general economic conditions, unemployment, corporate consumer spending and liquidity, state finances, supply chain, operations and personnel; (b) the launch of the Barstool Sportsbook application is subject to regulatory approvals, which may be delayed; (c) the impact of significant competition from other companies for online sports betting; (d) the Company’s ability to achieve the expected financial returns associated with its Barstool Sportsbook application; (e) the risk of not maintaining the integrity of the Company’s IT infrastructure and of failing to protect its business data, employees and customers in connection with the Company’s online sports betting; (f) the ability of the Company and its business partners to obtain various regulatory approvals required to own, develop and / or operate the Barstool Sportsbook application may be delayed or may not occur; and (g) other factors included in the “risk factors” of the company’s annual report on Form 10-K for the year ended December 31, 2020, subsequent quarterly reports on Form 10-Q and current reports on Form 8-K, each as filed with the United States Securities and Exchange Commission. The Company does not intend to publicly update any forward-looking statements, except as required by law. In view of these risks, uncertainties and assumptions, the forward-looking events referred to in this press release may not occur.

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