Penn signs 20-year Sports Wagering Deal with New York casino

Penn National Gaming Inc., a Wyomissing, Pennsylvania-based regional gaming company has entered into a 20-year strategic partnership with Capital Region Gaming LLC, the operator of the Rivers Casino & Resort in Schenectady, New York.

Penn operates the Tropicana and M Resort in Southern Nevada.

Jon Kaplowitz, Senior Vice President of Interactive Gaming at Penn National commented that gaining potential access to what could become one of the nation’s most lucrative sports betting markets has been a major priority for their company.

Kaplowitz went on to say that they are hopeful that the New York State Assembly will follow those leading revenue producing states that allow for multiple skins for mobile sports betting. He added that a state the size of New York certainly warrants open competition and a free-market approach.

According to a Las Vegas gaming industry analyst, Penn’s move helps solidify its position in a highly lucrative market.

Brendan Bussmann, Director of Government Affairs for Global Market Advisors, said that they will have some idea of how New York is going to proceed with sports betting as the budget is due roughly in a month.

Bussmann also said that the state already has significant revenue shortfalls but this should not be put on the backs of a potential mobile sports betting market with excessive license fees.

Penn Interactive offers online wagering on sports in Pennsylvania and Michigan and is aiming to operate its Barstool Sports mobile sportsbook app in at least 10 states by the end of 2021.

The gaming company launched its Barstool – branded iCasino in Michigan on 1st February 2021. Barstool is based in Boston and operates sportsbooks and engages customers through social media and radio programs.

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