“In exchange for access to our non-primary licenses to conduct these operations, Penn National will receive a combination of upfront cash and equity, one-time market access fees, and ongoing revenue sharing. Penn National entered into multi-year agreements with leading sports betting operators DraftKings, PointsBet, theScore, and The Stars Group for online sports betting and iGaming market access across the Company’s portfolio. “Yesterday, we announced additional details regarding our sports betting and iGaming strategies and businesses. In a separate press release issued today detailing Penn National’s latest revenue numbers, CEO Timothy Wilmott further explained how these partnerships work: In return, Penn National will receive cash, equity, market access fees and revenue share from each operator. These agreements will grant market access for the four named providers via existing Penn National operations in each state.
Penn National Sports Betting Partnership Details The surprise announcement details partnerships with DraftKings, PointsBet, theScore and The Stars Group to pursue online gambling opportunities in states ranging from New Mexico to Maine. In a press release issued Wednesday evening, Penn National revealed it has reached partnership agreements with four high-profile sports betting providers to launch online sportsbooks and casinos in 16 states pending legislation.
