The Stars Group and DraftKings among new Penn National market-access partners
PointsBet and theScore also secure deals for new market entry while Penn National chooses Kambi as sports betting provider
Penn National has announced four new market access partners for US sports betting, as well as a new sports betting platform deal with Kambi.
The access deals will provide entry to new markets for DraftKings, The Stars Group, PointsBet and theScore with various skin priorities (full list below).
DraftKings secures access to seven new states, including Pennsylvania and West Virginia, on a ten-year revenue sharing deal.
“Penn National Gaming brings tremendous resources, people and experience to the partnership and, as we finalized the terms of the deal, it was abundantly clear there is a real synergy between our two companies that bodes very well for the future,” said Ezra Kucharz, DraftKings chief business officer.
The Stars Group deal covers nine new states, giving the firm access to 20 in total.
Under the terms of that agreement, Penn will receive a revenue share, an up-front cash payment of $12.5m, and potential additional cash payments as Stars launches products in new states.
Stars CEO Rafi Ashkenazi said: “This agreement further extends our market access platform, as we work to establish our FOX Bet business as one of the leaders in the emerging U.S. online betting and gaming market.”
The Stars Group secured access to nine new states
Elsewhere, PointsBet secured access to five new states, including West Virginia.
The operator also secured right of first offer for any new states that may open up.
Finally theScore secured access for 11 new states, including first skin access in Louisiana and Mississippi.
As part of the deal, Penn National agreed to take a strategic equity stake in theScore.
“We are thrilled that Penn National believes in, and has invested in, our vision of an integrated approach to media and sports betting and we can’t wait to unveil the best-in-class mobile betting experience that we’ve been building for sports fans,” said John Levy, founder and CEO of theScore.
In the same announcement last night, Penn announced it had chosen Kambi to provide it with retail and online betting products in a number of states.
Penn National, which operates over 40 gaming facilities across the US, will launch the first sportsbooks at its bricks and mortar casinos in Iowa and Indiana in Q3, with online to follow in 2020.
Penn had previously partnered with William Hill in multiple states.
Full list of market access deals and skin priorities: