Delaware

Barstool Sportsbook Lines Up Two More States For Launch

Penn National will launch its Barstool Sportsbook app in Indiana and New Jersey by the end of May, according to Penn CEO Jay Snowden.

Snowden shared the plans on CNBC‘s Squawk Box Tuesday.

Barstool Sportsbook will first go live in Indiana by the end of April. That will be followed by NJ sports betting in May.

The rollout is moving much faster now than when the app first launched in Pennsylvania last September. Barstool Sportsbook next launched when Michigan sports betting finally went online in January and then in Illinois less than two weeks ago in time for March Madness.

When will Barstool Sportsbook launch in other states?

On the most recent Penn earnings call, Snowden said the Barstool app should launch in a new market every three to five weeks before NFL betting starts in September.

That’s still the case with Snowden telling CNBC a “slew of three or four states” will get the app after Indiana and New Jersey.

After those launches, there will only be five states to choose from for those final few launches before football starts:

The Virginia launch is already in the works after Penn received one of the up to 12 mobile-only betting licenses last week.

Penn has access to the other four states with casinos in Colorado, Iowa and West Virginia and an open market in Tennessee.

Can Barstool hang with market leaders?

One trend to watch for Barstool Sportsbook is whether it can maintain the high handle share it captures after launch.

Take Michigan, for example. The app captured 23.9% of online handle in the first 10 days of the market in January. That share dropped more than 10 percentage points to 13.3% in the first full month of online betting in February.

That’s despite handing out the third-most promos last month behind DraftKings Sportsbook and FanDuel Sportsbook.



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Sportsbook
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