![]() ![]() New York online sports betting surpassed $2 billion in handle for a single month this past October, the first state in the history of legalized sports betting to surpass the $2 billion a month handle target. While Snowden did say that “nobody is making money in New York,” he did say it’s important for a scale player to have access to the states that matter.Īnd New York certainly matters. Snowden pointed out New York as a target for expansion, with opportunities in the short- or medium-term to gain licensure. Snowden spoke about the possibility during PENN Entertainment’s Q2 2023 earnings call in August. Despite the rejection, PENN Entertainment CEO Jay Snowden has mentioned the state as a possible expansion target, most recently after the ESPN and PENN partnership was announced over the summer. ![]() Ultimately, the New York State Gaming Commission did not accept the group’s bid. The three companies projected its bid could result in $1 billion in incremental tax revenue for the Empire State over a decade. When New York opened its application process in 2021 for its nine initial online sports betting licenses, PENN and its Barstool Sportsbook brand partnered with Fanatics Betting and Gaming and Kambi for a joint application. PENN Entertainment has long had interest in working in New York. ![]()
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