Last Updated on December 16, 2020
Don’t look now, but Barstool Sportsbook is making a move into yet another big market. Penn National Gaming, Barstool Sportsbook’s parent company, is acquiring the Hollywood Casino Perryville in Maryland. They announced the acquisition in a press release.
“Penn National is excited to acquire the operations of Hollywood Casino Perryville, a property we developed in 2010, which will allow us to re-enter the strong Maryland gaming market and add a twentieth gaming jurisdiction to our leading nationwide footprint,” said Jay Snowden, President and CEO of Penn National.
“In addition, with the recent approval of sports betting through the overwhelming passage of Question 2 on Election Day, Maryland is expected to soon become a significant retail and mobile sports betting market. As such, this acquisition provides another opportunity to expand our unique omni-channel platform with a Barstool-branded retail sportsbook and mobile app,” concluded Mr. Snowden.
What This Means For Maryland Bettors
This acquisition is huge for Maryland bettors. The state voted to legalize sports betting in the November elections, but there are only nine licenses for operators. Penn National Gaming’s acquisition of a physical property ensures that Barstool Sportsbook will be among that group.
Barstool Sportsbook is already one of the fastest-growing sportsbooks in the country. Upon launch in Pennsylvania, Barstool took in $11 million in total handle in just three days. They have plans to launch in Michigan, where Barstool Sports founder Dave Portnoy went to college, and now it’s clear that they are preparing to enter the Maryland market.
Perryville is located within an hour of Baltimore and a half-hour away from the Delaware-Maryland border. It’s also worth noting that Hollywood Casino Perryville is approximately 60 miles away from Philadelphia, where Barstool Sports Headquarters is located.
We can expect to see Penn National Gaming and Barstool Sportsbook continue aggressive pursuits of emerging markets. Pennsylvania, Michigan, and now Maryland are only the beginning.