Penn CEO: Barstool Illinois Will Launch In Time For March Madness

Jay Snowden, CEO of Penn National Gaming, has announced that the next location for the launch of Barstool Sportsbook will be in Illinois.

Snowden reveals that Barstool is set to debut in Illinois before March Madness, confirming a previous report by Play Illinois released a few weeks earlier.

If that happens, Barstool is ready to be the next legal sportsbook in Illinois. While BetMGM and Unibet are targeting a launch in 2021, Barstool’s path to going live seems more direct.

This is because Penn already has a management services provider license, while BetMGM sportsbook and Unibet are still in the process of applying for theirs.

Because of its large and engaged following in the Chicago sports betting scene, Barstool is positioned to be a key player in Illinois.

At present, the sports betting market in Illinois is dominated by three operators.

Can Barstool Sportsbook breakthrough?

How Barstool is faring in Pennsylvania

Barstool is a newcomer in the Pennsylvania market, but in December it was the third largest sportsbook by handle. It trailed only FanDuel and DraftKings in handle, but actually led in revenue.

The top three sportsbooks in Illinois, according to the latest revenue report, are DraftKings, BetRivers, and FanDuel. Combined, they accounted for 92% of the state’s handle.

In November, PointsBet, ranked fourth in betting control, had 87 million fewer bets than the leading bookmaker. There were three operators in total.

Barstool should aim to secure a spot in the top four, but reaching the top three may be challenging due to BetRivers’ strong presence in Illinois compared to other markets.

However, anticipate Barstool to receive considerable recognition in the Prairie State. Additionally, residents of Illinois or the Chicagoland area should brace themselves for increased exposure to the brand in the upcoming month.

Barstool financial betting is close to St. Louis.

During Penn’s most recent quarterly call, Snowden highlighted the achievement of the Ameristar East Chicago sportsbook, now known as the Barstool Sportsbook.

Ameristar East saw a notable 35% growth in management just four months after its relaunch. Despite being located in Indiana, the casino is only a 40-minute drive from downtown Chicago, depending on the time of day.

We just found out that the Argosy Casino Alton will now feature a Barstool retail sportsbook.

There are multiple reasons why this is significant, including Argosy being ranked second and operating two financial sportsbooks in Illinois every month. Its ideal location in residential St. Louis also contributes to its success.

In addition, we were under the impression that Argosy would feature a Unibet retail sportsbook. Unibet had previously sealed a market access agreement with Argosy to enter the Illinois market.

Unibet will not provide betting services at the physical location. It is likely that Argosy, the owner of Penn, believes that introducing a Barstool financial book will bring in higher revenue and attract more interest.

We had anticipated that Barstool would collaborate with one or both of the Hollywood casinos in Aurora and Joliet.

We had the potential to experience that as well, but we were caught off guard by the unexpected Argosy twist.

Other than Barstool, Illinois, more to travel

Barstool Illinois is expected to be the next location for the company after its successful launch in Michigan. Snowden is projecting that by the end of 2021, Barstool will have expanded to 10 states.

During the recent call, Snowden praised the potential of Barstool & rsquo in the US market, as Penn’s stock continues to rise.

I am certain that we will rank in the top three as we have always stated, and we are committed to maintaining that position. Our profits will surpass those of our competitors, and we are delivering on that commitment and will keep doing so.

As we move forward, we gather more resources that allow us to increase our focus on expanding our presence and attracting customers, especially in areas where we expect the greatest profits.

Reports indicate that Barstool has been acquiring customers at a steady and cost-effective pace, which is to be expected given its loyal fan following.