Penn National Gaming has launched its Barstool Sportsbook app in Pennsylvania and CEO Jay Snowden said the company hopes to move the app into every state where sports betting is legal.
“As you get into 2021, I think you should expect for us to be in every state that’s legal, where we operate and can launch by the end of 2021,” Snowden told Fox Business. “We’ll be in well over a dozen states by the end of the calendar year.”
The app saw more than 21,000 downloads per day in its debut weekend last month and the company is already planning to launch in Michigan next month.
Snowden also told the news channel that with 41 brick-and-mortar casinos in 20 states, Penn National can generate free cash flow that is reinvested in the company’s retail and digital sports betting casino opportunities. The company has been able to provide revenue share access through sublicenses to DraftKings, PointsBet, The Score and FanDuel and Flutter’s Fox Bet.
He also noted that states that legalized online sports betting before the Covid-19 pandemic have had an advantage and that could lead to more growth for the company’s app as other states move to allow internet betting.
“It’s very high on the priority list right now because the couple of states like New Jersey and Pennsylvania had authorized sports betting pre-COVID,” Snowden said. “People went online, they were still able to participate in casino gambling, sports wagering, whatever sports were available, and other states took note of that. I think you’re going to see this proliferate much quicker going forward than maybe most thought about at the beginning of this year.