- Penn National Gaming is set to acquire Hollywood Casino Perryville.
- This will allow Barstool sportsbook to operate in Maryland.
- The deal is for an estimated $31.1 million.
PERRYVILLE, Md. – Maryland sports bettors will soon be able to take action with the popular Barstool sports betting brand after Penn National acquires Hollywood Casino Perryville.
The casino will be purchased for $31.1 million and Penn National will then take over the annual $7.77 million rent fee for the GLPI real estate assets association.
Penn National will be entering the Maryland sports betting market for the first time, making Barstool one of the first sportsbooks to operate in the state after it approved legal sports betting in November.
Barstool Meets Maryland
The Maryland sports betting market is new but will be starting out with a major heavy hitter in Barstool sportsbook. Sports betting is set to officially launch in 2021.
With the launch, Penn National is taking the early steps in claiming the market by purchasing the Hollywood Casino Perryville.
Both land-based and the Barstool sportsbook mobile app (pending regulatory approval) will be available for Maryland sports bettors thanks to the acquisition. Sports bettors in the Old Line State will have access to the full network of sports betting options Barstool has to offer.
“Penn National is excited to acquire the operations of Hollywood Casino Perryville, a property we developed in 2010, which will allow us to re-enter the strong Maryland gaming market and add a twentieth gaming jurisdiction to our leading nationwide footprint,” said Jay Snowden, President, and CEO of Penn National. “In addition, with the recent approval of sports betting through the overwhelming passage of Question 2 on Election Day, Maryland is expected to soon become a significant retail and mobile sports betting market. As such, this acquisition provides another opportunity to expand our unique omni-channel platform with a Barstool-branded retail sportsbook and mobile app.”
Since sports betting has not officially launched as of yet, and the Maryland legislature still has to work out the rules in a 2021 session, Maryland bettors will have to wait to get their hands on the Barstool sportsbook.
Should everything be approved, however, then the sportsbook could launch just in time for betting on the 2021 NFL season.
Coming from a background in narrative-based writing, Giovanni strives to write stories that will keep the reader engaged. Although he does pride himself in being accurate, how the story is told is also very important to him. When he’s not keeping readers up to date on sports betting laws and legislation, you can find him writing and recording music, playing videogames, or engaged in heated sports debates with his friends.