Barstool Sportsbook Joins Indiana Online Sports Betting Market
Barstool Sportsbook is live in Indiana, just in time for the NBA playoffs and the Indianapolis 500.
The Barstool mobile app went live Tuesday to become the company’s fourth U.S. online betting market, joining Pennsylvania, Michigan and Illinois. It continues a planned growth strategy that Penn National Gaming CEO Jay Snowden discussed in a Feb. 4 earnings call when he said the company wanted to have online operations in 10 states by the start of the upcoming football season.
“We are thrilled to be launching our online Barstool Sportsbook in Indiana at the start of the NBA’s new playoff format,” Snowden said in a news release last week. “Our retail Barstool Sportsbooks at Ameristar Casino East Chicago and Hollywood Casino Lawrenceburg have been very well received by our customers since opening this past December, and now Hoosiers from across the state will be able to engage with Dave Portnoy, Dan ‘Big Cat’ Katz, and all of the Barstool personalities through the Barstool Sportsbook app.”
In Time For Big Indiana Sports Events
In Indiana, Barstool is offering several promotional wagers. Those promotions will include risk-free bets, parlay insurance, and multiple ways to bet on the NBA playoffs and Indianapolis 500, according to the release.
The NBA’s play-in tournament starts Tuesday and the Indiana Pacers are playing the Charlotte Hornets for the right to move on to the next play-in game. The Indy 500 is scheduled for May 30 and in April, the state announced that 135,000 fans would be allowed to attend.
“As the only gaming operator with a fully integrated sports media and entertainment partner, we have the unique ability to attract new and existing Penn National customers to enjoy our retail and interactive gaming, sports betting and entertainment offerings, as evidenced by our performance to date in Illinois, Michigan and Pennsylvania,” Snowden said in the release. “Our launch in Indiana is another important step in our Company’s evolution into the leading omnichannel gaming provider, and we are eager to leverage the building momentum for the Barstool Sportsbook app with the additional launches we have planned for 2021.”
Barstool’s Earnings Up
Penn National reported a revenue of $1.27 billion for the first quarter of 2021 and an Adjusted EBITDAR, or earnings before interest, taxes, depreciation, amortization and restructuring or rent costs, of $447 million.
Indiana reported a sports betting handle of $236.4 million for April, which was down 25.4% from the $316.7 million it reported in March.
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