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01 August

Penn National Concludes Five Sports Wagering Deals

August 01, 2019
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Gambling operator Penn National Gaming (PNG) announced on Wednesday five strategic partnerships with sportsbook operators, allowing them access to its non-primary licenses.

The Wyomissing-based operator inked deals with DraftKings, theScore, PointsBet, and the Stars Group. Sports betting operators will render their services to PNG’s properties with the subsidiary Penn Interactive Ventures overseeing the agreements.

Penn National Vice President Jon Kaplowitz explained that they were giving “access to our company’s non-primary licenses in exchange for a combination of upfront cash and equity, one-time market access fees and ongoing revenue sharing.”

The collaborations enable the companies to own, operate, and brand real-money online sports betting, poker, and casino offerings in chosen states depending on their regulations. 

In a Wednesday press release PNG also revealed that sportsbook technology provider Kambi Group would power its digital and retail sportsbooks.

PNG manages 42 casinos in the US, including Tropicana and M Resort in Las Vegas.

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