Barstool Sportsbook Receives Approval in Massachusetts
The state of Massachusetts has provisionally approved a mobile sports betting license for Barstool Sportsbook following an in-depth review by the Massachusetts Gaming Commission (MGC).
Terms of the approval mean that the brand, which PENN Entertainment Inc. owns, has been granted a 'category 3' license that will see Barstool Sportsbook be adjoined to PENN's Plainridge Park Casino.
A full suitability review is still ongoing, which means that the sportsbook's license will be only temporary, to begin with. And certain conditions have been attached to this agreement, with the MGC insisting that Barstool puts measures in place to prevent anyone under the age of 21 from attending any of its live college football shows.
PENN Entertainment Continues to Expand Its Presence
Such an update is good news for parent company PENN, which completed a full takeover of Barstool last August as a way of increasing its presence in the online gambling scene. However, there is still some way to go as far as establishing a permanent license in Massachusetts is concerned.
This is now the beginning of an ongoing process. I know that there are still verification and testing processes and certification processes ahead. But we congratulate you at this juncture.
Meanwhile, there were some initial concerns over PENN's operational procedures, with the MGC understood to be hesitant to award such a license; however, the company has said it has since removed the term 'risk-free' from its marketing offers.
Furthermore, Barstool CEO John Snowden revealed: "To be clear, neither [Barstool Sports founder] David Portnoy nor anyone else at Barstool has any control or decisionmaking authority over the operations at either the retail or online operations of Barstool Sportsbook.
"All decisions, directions, and influence over the operations of sports betting are made entirely by PENN team members who are authorized to do so and are licensed to do so as required."
MGC Anticipating More Submissions
Following the granting of a license to Barstool, it is understood that more firms will submit requests to operate in the state, and land-based casinos have already been lined up.
BetMGM will partner with its sister retail casino, MGM Springfield, while Caesars Sportsbook and WynnBET will both adjoin to Encore Boston Harbor casino.
An official statement on the MGC website read: "WynnBET, BetMGM, and Caesars Sportsbook are all now eligible to request temporary licenses to conduct sports wagering while full suitability reviews are undertaken by the MGC."
This is a considerable coup for the state, considering the reputation of the aforementioned sportsbooks, with both Caesars and BetMGM understood to be two heavyweights in the US sports betting arena.
It will also mean that the state receives a significant boost, with online operators required to pay 20 percent in taxes, which is likely to be reinvested back into the community to improve infrastructure.
For Barstool, though, it represents a great opportunity to establish itself as a major player in a state where it is still very much a level playing field in terms of brand popularity.
Topic: Regulation
SEO title: Massachusetts Approves Barstool Sportsbook
Meta Description: Discover what it means for Barstool Sportsbook after Massachusetts approved its mobile sports betting license
ALT: Barstool Sportsbook enters Massachusetts
Barstool Sportsbook Receives Approval in Massachusetts
The state of Massachusetts has provisionally approved a mobile sports betting license for Barstool Sportsbook following an in-depth review by the Massachusetts Gaming Commission (MGC).
Terms of the approval mean that the brand, which PENN Entertainment Inc. owns, has been granted a 'category 3' license that will see Barstool Sportsbook be adjoined to PENN's Plainridge Park Casino.
A full suitability review is still ongoing, which means that the sportsbook's license will be only temporary, to begin with. And certain conditions have been attached to this agreement, with the MGC insisting that Barstool puts measures in place to prevent anyone under the age of 21 from attending any of its live college football shows.
PENN Entertainment Continues to Expand Its Presence
Such an update is good news for parent company PENN, which completed a full takeover of Barstool last August as a way of increasing its presence in the online gambling scene. However, there is still some way to go as far as establishing a permanent license in Massachusetts is concerned.
This is now the beginning of an ongoing process. I know that there are still verification and testing processes and certification processes ahead. But we congratulate you at this juncture.
Meanwhile, there were some initial concerns over PENN's operational procedures, with the MGC understood to be hesitant to award such a license; however, the company has said it has since removed the term 'risk-free' from its marketing offers.
Furthermore, Barstool CEO John Snowden revealed: "To be clear, neither [Barstool Sports founder] David Portnoy nor anyone else at Barstool has any control or decisionmaking authority over the operations at either the retail or online operations of Barstool Sportsbook.
"All decisions, directions, and influence over the operations of sports betting are made entirely by PENN team members who are authorized to do so and are licensed to do so as required."
MGC Anticipating More Submissions
Following the granting of a license to Barstool, it is understood that more firms will submit requests to operate in the state, and land-based casinos have already been lined up.
BetMGM will partner with its sister retail casino, MGM Springfield, while Caesars Sportsbook and WynnBET will both adjoin to Encore Boston Harbor casino.
An official statement on the MGC website read: "WynnBET, BetMGM, and Caesars Sportsbook are all now eligible to request temporary licenses to conduct sports wagering while full suitability reviews are undertaken by the MGC."
This is a considerable coup for the state, considering the reputation of the aforementioned sportsbooks, with both Caesars and BetMGM understood to be two heavyweights in the US sports betting arena.
It will also mean that the state receives a significant boost, with online operators required to pay 20 percent in taxes, which is likely to be reinvested back into the community to improve infrastructure.
For Barstool, though, it represents a great opportunity to establish itself as a major player in a state where it is still very much a level playing field in terms of brand popularity.
More Regulation News
RELATED TOPICS: Regulation
Latest News
Most Read
Must Read
Interviews
Review this New Post
Leave a Comment
User Comments
Comments for Barstool Sportsbook Receives Approval in Massachusetts