Recently, Penn National Gaming made an important announcement that could be the game-changer in the US sports betting and online gambling scene.
In the press release, the company revealed new partnership agreements with various operators and platform providers. Penn’s new partners include DraftKings Sportsbook, the Score, PointsBet, and the Stars Group.
During the event, the SVP of Interactive Gaming at Penn National, Jon Kaplowitz, said that the company is happy to work with the top names in the industry. He went on to reveal that the joint ventures would allow the new partners to expand their footprint in the US market and that the deals would extend to sports betting, poker, and iGaming.
In exchange, Penn National Gaming will benefit from revenue sharing, upfront cash payments and equities, and market access fees in some states.
DraftKings Enters Pennsylvania Online Market
No one saw this coming, but DraftKings is finally coming to the Keystone State.
During the press statement, Penn National revealed a 10-year contract with DraftKings Sportsbook. The deal will see DraftKings and Meadows Racetrack and Casino working towards bringing mobile wagering to the North Strabane Township.
The two companies have already submitted their applications to the Pennsylvania Gaming Control Board, and they hope to get the regulator’s approval when the Board meets in mid-August or early September.
Early clearance could see the DraftKings Sportsbook launch in time for the 2019 NFL season, which begins on Sept. 5.
In addition to Pennsylvania, the contract will facilitate DraftKings’ entry into several other legal markets, including West Virginia, Indiana, Ohio, Florida, Missouri, and Texas. The cost of the partnership will be continuous revenue sharing.
However, Penn National has not revealed any details concerning the launch of an online sportsbook at Meadows’ sister property, Hollywood Casino at Penn National Race. The venue began retail wagering in October 2018, but the sportsbook is yet to go online.
Kambi to Power Penn National Sportsbooks
In another press release, Kambi announced a new partnership with Penn National that will see the company provide the sports betting technology for retail sportsbooks operated or owned by Penn. The scope of this deal extends to more than 40 properties across the country.
The new partnership between Kambi and Penn Gaming edges their current supplier, William Hill, out of the picture. The provider is also expected to power Penn’s online sportsbooks.
While making the announcement, Kambi’s CEO Kristian Nylen, stated that it was an honor to sign the agreement, which he termed as the company’s largest deal to date.
He went on to issue a statement that was full of praise for Penn National, who he described as a tier-one operator, ideal partner, and a company that operates within the highest industry standards.
According to Nylen, both companies share a vision and passion for sports and sports wagering, and they are committed to providing their players with high-quality sports betting experiences.
Kambi has revealed that they are working on opening Penn sportsbooks in Iowa and Indiana later this year.
