Penn National Gaming is quickly becoming one of the most powerful gaming companies in the United States. Lately, this company has been working hard to expand its sports gambling operations. Reports have confirmed that Penn Gaming’s theScore deal has finally been agreed to.
This is a huge move for Penn Gaming. It will help to significantly expand its presence in the US sports betting market. Today, we’ll talk about the details of this major new takeover.
Here’s what you need to know!
The US Sports Betting Industry Continues to Grow
There has been a huge amount of attention placed on sports betting throughout the United States over the past few years. This is largely due to the Supreme Court’s removal of PASPA in May of 2018. This decision gave every state in the country the ability to legalize and regulate sports gambling.
With PASPA gone, several states immediately got their first sportsbooks up and running. That includes New Jersey and Delaware. These states recognized how much tax revenue could be earned with the regulation of this industry.
Many states quickly began approving bills to get this industry up and running. As time went on, it became impossible to ignore the massive revenue potential from sports betting. Today, more than 30 states now have sports betting bills formally approved.
2021 seems to be the year in which several more states will approve sports gambling. Massachusetts is making some serious progress on this front. The House recently approved a sports betting bill and many believe this state could quickly develop one of the largest sports gambling markets in the country.
Maine and Oklahoma are also interested in legalizing sports betting. Both have bills that are slowly working their way through the legislative process. It seems likely that both will launch their first sportsbooks within a year or two, as well.
The country’s sports betting companies are profiting massively from this expansion. Now is a great time to talk about one of the biggest sports betting deals made so far this year.
Penn Gaming’s theScore Deal Has Finally Been Completed
Most gambling fans around the United States have heard of Penn National Gaming. This company has been a major player in the US gaming industry for years. Lately, the company has expanded significantly due to some key partnerships.
That includes the company’s deal with Barstool Sports. Barstool’s sports betting operations have been hugely successful and are bringing Penn Gaming a large amount of revenue each month. That doesn’t mean Penn Gaming plans to slow down its expansion efforts.
It seems this move will help Penn Gaming to grow considerably in several key markets. The app has more than four million monthly users that will now be exposed to Penn Gaming’s sports betting operations. It will also allow for the company to take over theScore’s sportsbooks operating in Indiana, Iowa, Colorado, and New Jersey. Penn National Chief Executive Officer Jay Snowden spoke about this deal to the media this week.
“We are now uniquely positioned to seamlessly serve our customers with the most powerful ecosystem of sports, gaming and media in North America, ultimately creating a community that doesn’t currently exist,” he said.
Score Media saw its market shares rise considerably in price after this news broke. Penn Gaming is also seeing a large increase in its daily share prices. We’ll be sure to offer more updates on this exciting deal over the next few months.
Major Sporting Events Available to Bet On Online
More than half the country now has a regulated sports betting industry set in place. Fortunately, there are some incredible online sports betting websites available throughout the entire country. That includes the states yet to formally approve their own sports gambling legislation.
One of the best online sportsbooks in the US right now is BetOnline. This site is well-known for its safety and wide range of wagering options. There are some fantastic betting odds available here right now that members are taking advantage of.
Some are choosing to make their last-minute bets on the Tokyo Olympic Games. There are still a few days left before the world’s biggest sporting event concludes! BetOnline is providing some fantastic odds on the upcoming boxing and wrestling finals here.
Combat sports fans are taking a close look at the odds for UFC 265 taking place in Houston, Texas this Saturday night. This event is headlined by Derrick Lewis and Cyril Gane. The winner will be declared the interim heavyweight champion of the world.
The MLB season continues to progress. There is a wide range of incredible baseball betting odds available right now. Some are also choosing to make their early prop bets on which team will manage to win the World Series.
Are you surprised to hear about Penn Gaming’s theScore deal? Which state do you want to legalize sports betting next? Let us know in the comments section below!
A longtime sports and gambling enthusiast, Kevin looks to present up-to-date and reliable information for readers. If he’s not writing, he’s probably watching MMA or playing blackjack. ...
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