Barstool Sportsbook Mobile App Goes Live in Pennsylvania
The highly anticipated Barstool Sportsbook mobile app launched Friday in Pennsylvania in time for the second weekend of the NFL season.
Pennsylvania is the first state where the app is available. The company said it plans to introduce the app in other states in the coming months.
It comes after three days of testing or a “soft launch” required by the Pennsylvania Gaming Control Board and two days after Pennsylania reported a record month of sports betting handle. With the NFL starting and another Pennsylvania sportsbook up and running, September could be an even better month for the state.
Penn National shares have risen steadily since it announced on Jan. 29 that it was acquiring a 36% interest in Barstool and becoming the sports media platform’s official gaming partner. It trades on Nasdaq under “Penn.” Shares reached 52-week highs this week with impending launch of the Barstool app.
The Barstool Sports blog, videos and podcasts are known for their audience engagement through influencers including Dave Portnoy and Dan 'Big Cat' Katz. Barstool has a large and faithful group of followers known as “Stoolies.”
Adhering to the Launch Timeline
The launch on Friday aligned with a timeline Penn National spelled out during its second-quarter earnings call on Aug. 6, saying it planned to launch the Barstool Sportsbook app in September.
On Sept. 8, Penn National received approval from the Gaming Control Board for the testing of the live, real money app.
The “soft launch” was available to a limited number of pre-registered participants. Bettors were able to make real money wagers and access all of the features and functionality of the Barstool Sportsbook app.
Pennsylvania Handle Grows
Pennsylvania posted a total handle of $365 million in August, a new record for the state. Combined with neighboring New Jersey, the two had more than $1 billion in total sports handle in August.
Pennsylvania's total was a 121.5% increase in handle month over month (July’s was $164.8 million). The previous high for Pennsylvania sports betting had been $348.4 million in January 2020.
The first mobile sports betting app launched in Pennsylvania in May 2019 when the SugarHouse Sportsbook app went live. Others like BetRivers, FanDuel, FOX Bet, DraftKings, Caesars, Unibet and BetAmerica soon followed.
Penn National is based in Wyomissing, Pennsylvania, between Harrisburg, the state capital, and Philadelphia. The company’s Hollywood Casino at Penn National Race Couse is in Granville, just east of Harrisburg.
Prior to the launch of the Barstool Sportsbook app on Friday, Penn National Gaming President and CEO Jay Snowden noted what it meant for the company.
”This is an important milestone in our company’s continued evolution to be the leading omni-channel provider of retail and online gaming, live racing and sports betting entertainment, and we couldn’t be more excited to get underway,” he said in a news release. “The Barstool Sportsbook app is the centerpiece of our company’s omni-channel strategy.”
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