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

Where will we see Barstool Sportsbook launch next? The answer is Illinois, according to Penn National Gaming CEO Jay Snowden.

Snowden says Barstool hopes to launch in Illinois in time for March Madness, consistent with reporting by Play Illinois a few weeks ago.

If that happens, Barstool would likely be the next legal sportsbook in Illinois. BetMGM and Unibet hope to launch in 2021, but Barstool has a clearer path toward going live.

That’s because Penn already has a management services provider license. BetMGM sportsbook and Unibet, meanwhile, are pending applicants.

Barstool has a large and engaged following among the Chicago sports betting scene, so it figures to be a key player in the Land of Lincoln.

Right now, though, three operators are dominating the Illinois sports betting market.

Can Barstool Sportsbook breakthrough?

How Barstool is faring in Pennsylvania

Barstool is fairly new to the Pennsylvania market, but it was the No. 3 sportsbook by handle in December. It only trailed FanDuel and DraftKings, and actually led all operators in revenue.

DraftKings, BetRivers and FanDuel, in that order, were the three leading Illinois sportsbooks in the last revenue report. The trio combined to account for 92% of the state’s handle.

PointsBet, the No. 4 betting by control, took 87 million fewer bets than the No. 1 book in November. 3 operators

Barstool should at the very least finish in the top four. The top three areas might be challenging at first because BetRivers is a much bigger person in Illinois than it is in other markets.

However, Barstool ought to pique a lot of attention in the Prairie State. Additionally, anticipate hearing a bit about them in the upcoming month if you reside in Illinois or the Chicagoland region.

Barstool financial betting is close to St. Louis.

Snowden cited the Ameristar East Chicago sportsbook’s success, which was recently rebranded as a Barstool Sportsbook, on Penn & rsquo, its most recent quarterly call.

Only four months into the relaunch, Ameristar East saw a manage jump of 35 %. Depending on the time of day, Améristar East is in Indiana but on a 40-minute push from downtown Chicago, give or take.

And recently, we also learned that the Argosy Casino Alton will feature a Barstool retail sportsbook.

That & rsquo is important for a number of reasons. Argosy is currently ranked second. Each month, 2 Illinois financial sportsbooks by control. Its area in residential St. Louis is perfect.

Second, we thought Argosy was going to feature a Unibet retail sportsbook. Unibet signed a market access deal with Argosy months ago to gain entry into the IL market.

Unibet won’t have a physical betting in its place. Penn’s owner Argosy has probably reasoned that a Barstool financial book will bring in more money and attention.

Previously, we expected Barstool to partner with one of or both Hollywood casinos in Aurora and Joliet.

That very well could also occur, but we failed to anticipate the Argosy spin.

Other than Barstool, Illinois, more to travel

Barstool Illinois will probably be the second position where it goes stand because it was just recently launched in Michigan. By the end of 2021, Snowden says it hopes to be in 10 state.

Snowden praised Barstool & rsquo, s US prospects at the recent call, as Penn stock continues to soar.

& ldquo, I believe you should assume that we will be in the top three because we previously stated as much and are continuing to do so. We & rsquo is going to be profitable faster than anyone else, and we’re delivering on that promise and continuing to do so once more.

& ldquo, And as we grow, we simply gain a lot more dry powder, which allows us to be more aggressive in the areas of funnel expansion and customer acquisition that we think are producing the best returns. & rdquo,

According to reports, Barstool has been acquiring customers at cost-effective rates, which makes sense given its built-in fans.