Penn National Gaming has entered into a 20-year agreement with Capital Region Gaming, LLC d/b/a Rivers Casino & Resort, the operator announced on Monday.

Details of the Penn National-Capital Region Gaming Deal

The deal will see Penn National’s wholly-owned subsidiary Penn Interactive receive a “second skin” access to the New York mobile sports betting and iCasino market. The Penn National and Capital Region gaming contract  is subject to legislation being enacted and regulatory approvals.

Penn Interactive has sports betting operations in Pennsylvania and Michigan. It targets operation of its Barstool Sports mobile sportsbook app in at least 10 states by the end of 2021. The firm also launched its Barstool-branded iCasino in Michigan on February 1.

Jon Kaplowitz, Penn National’s Sr. Vice President of Interactive Gaming, commented on the link-up with Capital Gaming in a recent press release.

“Gaining potential access to what could become one of the nation’s most lucrative sports betting markets has been a major priority for our Company.”

“We are hopeful that the New York State Assembly will follow those leading revenue producing states that allow for multiple skins for mobile sports betting. A state the size of New York certainly warrants open competition and a free market approach.”

The Penn National executive said strong numbers in Michigan served as the driving force behind their entry into Big Apple iGaming arena.

“We’re very encouraged by the initial results we’ve seen in Michigan, as we registered over 48,000 new customers and generated total handle of $27.5 million during the first 10 days of operation.”

“We remain very confident in our ability to win sizable share in new markets based on the power of the Barstool brand and media assets, which allows us to begin to leverage the meaningful cross-sell opportunities from the Barstool Sportsbook, iCasino and our my-choice loyalty program audiences. We hope to bring our unique and exciting brand of sports entertainment and iCasino to the Empire State,” concluded Mr. Kaplowitz.

More on Penn National

Penn National Gaming owns 41 properties across 19 states. Over the years, it has established a reputation as one of the highly innovative omni-channel providers of retail and online gaming, live racing and sports betting entertainment.

Thecompany boasts a property of 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.

Penn Interactive, on the other hand, operates retail sports betting, online social casino, bingo, and iCasino products. In February 2020, Penn National closed a strategic deal with Barstool Sports. In this deal, Barstool will exclusively promote the Company’s land-based and online casinos and sports betting products, including the Barstool Sportsbook mobile app, to its national audience.