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

According to Penn National Gaming CEO Jay Snowden, Illinois is the next location for the launch of Barstool Sportsbook.

According to Snowden, Barstool is planning to launch in Illinois before March Madness, corroborating a report by Play Illinois from a few weeks ago.

Should that occur, Barstool is poised to become the subsequent legal sportsbook in Illinois. While BetMGM and Unibet are aiming for a 2021 launch, the pathway for Barstool to go live appears more straightforward.

This is due to Penn already possessing a management services provider license. Meanwhile, BetMGM sportsbook and Unibet are still in the application process.

Given its significant and active following within the Chicago sports betting community, Barstool is poised to be a major contender in the Land of Lincoln.

Currently, three operators are leading the sports betting market in Illinois.

Can Barstool Sportsbook breakthrough?

How Barstool is faring in Pennsylvania

Barstool is a relatively recent entrant to the Pennsylvania market, but it ranked as the third largest sportsbook by handle in December. It came behind only FanDuel and DraftKings, but was actually the leading operator in terms of revenue.

The last revenue report identified DraftKings, BetRivers, and FanDuel as the top three sportsbooks in Illinois, respectively. Together, they represented 92% of the state’s handle.

In November, PointsBet, ranked 4th in betting control, had 87 million fewer bets than the top book. Three operators

At the very least, Barstool should secure a place in the top four. It might initially struggle to reach the top three spots since BetRivers has a more significant presence in Illinois compared to other markets.

Nonetheless, expect Barstool to gain significant attention in the Prairie State. Furthermore, if you live in Illinois or the Chicagoland area, be prepared to hear more about them in the coming month.

Barstool financial betting is close to St. Louis.

On Penn & rsquo’s most recent quarterly call, Snowden mentioned the success of the Ameristar East Chicago sportsbook, which has recently been rebranded as a Barstool Sportsbook.

Just four months after its relaunch, Ameristar East experienced a significant 35% increase in management. Depending on the time of day, Ameristar East, although located in Indiana, is only approximately 40 minutes drive from downtown Chicago.

We recently discovered that the Argosy Casino Alton will also include a Barstool retail sportsbook.

There are several reasons why that is important. Currently, Argosy is ranked second. Every month, it controls two financial sportsbooks in Illinois. Its location in residential St. Louis is ideal.

Secondly, we believed that Argosy would include a Unibet retail sportsbook. Months ago, Unibet secured a market access deal with Argosy to penetrate the Illinois market.

Unibet won’t offer on-site betting. Argosy, the owner of Penn, likely believes that a Barstool financial book will generate more revenue and interest.

We previously anticipated that Barstool would partner with either or both of the Hollywood casinos in Aurora and Joliet.

We could also potentially experience that, but we didn’t foresee the Argosy twist.

Other than Barstool, Illinois, more to travel

Barstool Illinois is likely to be the second location where it will establish its presence, following its recent launch in Michigan. Snowden anticipates that by the end of 2021, it will expand to 10 states.

At the recent call, Snowden commended the US prospects of Barstool & rsquo, as Penn’s stock continues its upward trajectory.

“I am confident that we will be among the top three as we have consistently asserted, and we continue to uphold that claim. Our profitability will outpace others, and we are fulfilling that promise and will continue to do so.”

“As we progress, we accumulate more resources, enabling us to intensify our efforts in expanding our reach and acquiring customers, particularly in areas that we believe yield the highest returns.”

Reports suggest that Barstool has been gaining customers at economically efficient rates, which is logical considering its existing fan base.