Last Updated on September 21, 2020

The Barstool Sportsbook app is taking off in a big way. On the weekend of its official launch, it surged to the top of the Apple App Store rankings for all sports apps, not just sports betting apps. That means it outpaced the likes of DraftKings Sportsbook and FanDuel Sportsbook on its very first weekend.

This is huge news for Barstool Sportsbook and it is evidence that their loyal following from Barstool Sports’ extensive media properties is coming over to the betting side of the company. Barstool Sportsbook is banking on its media personalities like Dave “El Presidente” Portnoy and Dan “Big Cat” Katz attracting plenty of users to its new betting app.

Other sportsbooks like FanDuel, DraftKings, and PointsBet have tried to use popular media personalities to attract more users, but few sportsbooks are positioned as well as Barstool is to leverage a following in this way. They are already rolling out exclusive clubs and offers for Barstool Sportsbook users.

Barstool Sports recently relocated its headquarters to Philadelphia for the launch of Barstool Sportsbook in Pennsylvania. They have plans for further expansion into the betting market as they partner with two retail sportsbooks in Illinois. The Barstool Sportsbook app has yet to launch in Illinois, but that would seem like the next big step.

 

Penn National Gaming Stock

The success of the Barstool Sportsbook app launch in Pennsylvania is a big deal for Penn National Gaming stock prices. The successful weekend is pushing PNG’s price target from $59.75 to $80 according to Benzinga.

“Our initial impressions are positive given the app’s ease of use and leverage of the Barstool brand to create a unique interactive experience,” BofA’s Kelley said in a Monday note. “We think the app targets more of a casual bettor than competitors.”

There is a new major player in the sports betting market. Barstool Sportsbook is here to make some noise.