US Operator Penn National Signs Betting and Gaming Deals With Five Major Technology Providers

Penn National Gaming, operator of multiple US casinos and racetracks, has signed formal agreements with several notable brands from the world of iGaming technology and software supplying.

A wholly owned subsidiary of the operator, Penn Interactive Ventures (PIV) will manage the relationships with these companies and operate the primary sports betting operations through one of these new partners.

A Poker of Deals

The company has inked contracts with DraftKings , PointsBet , theScore and The Stars Group…

…as well as Kambi, whom sports betting technology in question belongs to – they will be in charge of procuring technology that will power sports betting for PIV in US states that have an active sports betting market already. They will integrate the platform before these jurisdictions roll out the market.

Kambi’s CEO, Kristian Nylen, has confirmed his company’s strategy to always partner with tier one operators, especially those that share the vision and ion for sports wagering.

Dreaming the Same Dreams

“In Penn National, we have found an ideal partner – one that is not only ionate about providing high quality sports wagering experiences to its customers, but a company that adheres to the highest level of ethical business standards.”

He added: “It’s an honour for Kambi to be working with an organisation of the size and stature of Penn National, and we look forward to helping them become a national leader in the US sports betting market in the coming years.”

DraftKings, PointsBet , theScore and The Stars Group have the option to own, operate and brand real money online sports betting, poker and casino offerings in most states.

DraftKings on Board

Penn National’s officials said that operators will be able to launch a first, second or third skin. Senior vice president of interactive gaming, Jon Kaplowitz, remarks:

“We’re pleased to be providing the top names in sports betting, iGaming and poker access to our company’s non-primary licenses to conduct these operations in exchange for a combination of upfront cash and equity, one-time market access fees and ongoing revenue sharing.”

DraftKings will have a first skin option in DraftKings is a clear leader in the burgeoning sports betting industry and that they are excited to extend partnership with this team.

20 Years of Fidelity

PointsBet will run a skin in Louisiana and Ohio according to a 20-year deal in which PIV will take a strategic equity stake of 5.28%. Revenue share with theScore will also run for 20 years and this brand will have sins in Louisiana and Mississippi.

The Stars Group has secured another 20 year deal to run skins in Illinois, Indiana, Ohio and Texas.

Concludes Kaplowitz:

“When coupled with our industry leading regional casino footprint and database of over five million active customers, the company is uniquely positioned to capitalize on the rapidly expanding sports betting and iGaming markets in a way that maximizes value to our shareholders.”

Source:

“Penn National lands multiple betting and igaming deals”, Rob Fletcher, igbnorthamerica.com, August 1, 2019.