Penn National Gaming Partnering With Barstool Sports to Raise Money for Pennsylvania Small Businesses This Weekend

Penn National Gaming, Inc. (“Penn National” or the “Company”) announced today that the Company’s two Pennsylvania casinos, Hollywood Casino at Penn National Race Course (“Hollywood Casino”) and The Meadows Racetrack and Casino (“The Meadows”), are partnering with Barstool Sports on a promotion this weekend to raise money for Pennsylvania small businesses impacted by the COVID-19 pandemic.

The fundraiser will begin at 8:00am on Saturday, January 9 and conclude at 11:59pm on Sunday, January 10. Visitors to the retail sportsbook at Hollywood Casino or the Meadows will have their first-time rated wager matched by the casinos with a donation to The Barstool Fund. In addition, Pennsylvania residents will have their first-time deposit on the Barstool Sportsbook App matched with a donation to The Barstool Fund provided they wager equal or more than their first-time deposit during the weekend.

Earlier this week, Penn National donated $1 million to the cause, which to date has raised over $20 million from more than 155,000 supporters.

“We are very proud to support our partners at Barstool Sports and look forward to helping local small businesses in and around Dauphin County,” said Dan Ihm, Vice President and General Manager at Hollywood Casino.

“It’s amazing what Dave Portnoy and his team have done so far,” said Tony Frabbiele, Vice President and General Manager at The Meadows. “We wanted to localize the support here in Washington County and decided we can make it fun for our players to be part of the fundraising.”

Any small business owners in need of help due to the impact of the pandemic on their business and employees are encouraged to apply for support at TheBarstoolFund.com/apply.

NEW YORK (Reuters) - Penn National Gaming Inc announced a $163 million investment in sports media company Barstool Sports on Wednesday, seeking to capitalize on the growing popularity of sports. Barstool agreed that Penn will be its exclusive gaming partner in all sports-betting products. Additionally, the Barstool brand may be used in all Penn casinos, and Penn may launch Barstool sports.

About Penn National Gaming

With the nation's largest and most diversified regional gaming footprint, including 41 properties across 19 states, Penn National continues to evolve into a highly innovative omni-channel provider of retail and online gaming, live racing and sports betting entertainment. The Company's properties feature approximately 50,000 gaming machines, 1,300 table games and 8,800 hotel rooms, and operate under various well-known brands, including Hollywood, Ameristar, and L'Auberge. Our wholly-owned interactive division, Penn Interactive, operates retail sports betting across the Company's portfolio, as well online social casino, bingo, and iCasino products. In February 2020, Penn National entered into a strategic partnership with Barstool Sports, whereby Barstool is exclusively promoting the Company's land-based and online casinos and sports betting products, including the Barstool Sportsbook mobile app, to its national audience. The Company's omni-channel approach is bolstered by the myChoice loyalty program, which rewards and recognizes its over 20 million members for their loyalty to both retail and online gaming and sports betting products with the most dynamic set of offers, experiences, and service levels in the industry.

About Hollywood Casino at Penn National Race Course

Located near Harrisburg PA, Hollywood Casino at Penn National Race is a mychoice destination property that features a variety of entertainment options including slots, tables games, hybrid games, live thoroughbred and simulcast racing and an array of casual and fine dining options.

About The Meadows Racetrack and Casino

Located near Pittsburgh PA, The Meadows Casino Racetrack and Hotel is a mychoice destination property that features a variety of entertainment options including slots, tables games, hybrid games, live harness and simulcast racing and an array of casual and fine dining options.

MEDIA CONTACTS
Penn National Gaming, Inc.
Eric Schippers, Sr. Vice President – Public Affairs | 610-373-2400
Hollywood Casino at Penn National Race Course
Christine Parker, Director of Marketing | 717-469-3278 | Christine.Parker2@pngaming.com
The Meadows Racetrack and Casino
Samantha Maskrey, Marketing Manager | 724-503-1561 | Samantha.Maskrey@pngaming.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20210108005549/en/

Casino and sports betting company Penn National Gaming announced fourth-quarter earnings before market open Thursday.

What Happened: Fourth-quarter revenue totaled $1.03 billion for Penn National Gaming (NASDAQ: PENN), which was down from the prior year and missed the Street estimate of $1.09 billion.

The lower revenue came as the company saw closures of casinos in Illinois, Michigan and Pennsylvania and restrictions in place in states like Ohio and Massachusetts. The company said that revenue was trending ahead of forecasts before the restrictions.

Barstool Sports: The strength in the fourth-quarter report came from the Barstool Sports brand.

In Pennsylvania, the Barstool Sportsbook has been downloaded 72,000 times and taken in $300 million in bets with limited marketing, according to Penn.

“We view Barstool Sports not only as a fantastic channel to promote our offerings, but also an undervalued media asset that has evolved from primarily a sports brand into a highly relevant sports and life-style brand,” Penn National CEO Jay Snowden said in a statement.

Penn rebranded several physical casinos to match the Barstool brand. The sports betting handle at the rebranded Ameristar East Chicago saw a 38% increase in revenue after the rebranding. Revenue from the Barstool-themed table games and slots areas were up 27% and 26%, respectively, year-over-year.

Related Link: 4 Reasons To Like Penn National; Cost Savings, Sports Betting Margins And More

What’s Next: Since the end of the fourth quarter, Penn National Gaming launched the Barstool Sportsbook in Michigan, the second state for the brand.

Barstool Sportsbook was downloaded by 48,000 new customers in Michigan and saw $27.5 million in betting handle in the first 10 days.

Fifty percent of Michigan customers bet on Barstool exclusive bets, one of the things that sets the company apart from other betting apps.

Penn Gaming Buys Barstool

The company said it's encouraged by trends in January, with increased visitation and length of play improving.

Penn expects the Barstool Sportsbook to be live in 10 states by the end of 2021.

PENN Price Action: Shares of Penn National were trading up 3.84% to $113.24 at last check Thursday.

Barstool Sports Penn National Gaming Deal

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