DraftKings is coming to the party too.
Last week, Penn National Gaming (PNG) announced a series of partnerships with DraftKings, PointsBet, theScore, and The Stars Group for online sports betting and online gaming operations throughout the company. Many of those partnerships will involve properties outside of Pennsylvania.
The Meadows sportsbook will use the DraftKings brand
In Pennsylvania, DraftKings will enter the sports betting market via the Penn National-owned The Meadows Casino in Washington, PA. According to PlayPennsylvania, The Meadows applied for a state sports betting license (which requires a $10 million fee) earlier this month.
Last month, DraftKings began applying for minor online casino and sports betting licenses in Pennsylvania, seemingly in advance of this partnership. However, both DraftKings and The Meadows will need to get final approval from the Pennsylvania Gaming Control Board (PGCB) before their retail and online sportsbooks can go live.
According to the press release, Penn National’s agreement with DraftKings is for 10 years, subject to a 10-year extension.
Will DraftKings partnership affect Hollywood Casino app?
Penn National’s other PA property, Hollywood Casino in Harrisburg, has partnered with William Hill for its retail sportsbook. It was expected that William Hill would also produce the casino’s sports betting app. Hollywood Casino’s app was expected to arrive this summer.
However, it is not clear yet if the new partnership with DraftKings will affect any of those plans.
New agreement with Kambi also announced
Wednesday’s news release also announced Penn National’s partnership with Kambi, which will serve as the company’s exclusive sports betting supplier. Kambi already provides sports wagering odds and betting lines for three of PA’s online sportsbooks: BetRivers, PlaySugarHouse, and Parx Online.
DraftKings brand gives Penn National some needed momentum
Penn National’s Hollywood Casino was the first in the state to offer a retail sportsbook. However, PNG’s properties had fallen behind in online sports betting. Four other sportsbooks have already launched online operations before them.
Adding DraftKings as a partner gives Penn National a much-needed boost on the digital front. In New Jersey, DraftKings is second to only FanDuel in online sports betting revenues. According to PlayNJ, halfway through the year, DraftKings has already recorded more than $29 million in online revenue. That bodes well for the company’s arrival in Pennsylvania too.
“We’re pleased to be providing the top names in sports betting, iGaming and poker access to our company’s non-primary licenses…” Jon Kaplowitz, Penn National’s Senior Vice President of Penn National’s Interactive Gaming, said in the press release. “Sports betting represents an exciting new growth opportunity for Penn National…”