Penn National President & CEO Jay Snowden said that there are "plans to launch" Barstool Sports-related casinos that will "focus on poker and sports betting," according to Ben Strauss of the WASHINGTON POST. Penn National yesterday announced it was "buying a minority stake" in Barstool. For Penn National, which owns brick-and-mortar casinos in 19 states, Barstool will "help reach a younger, gambling-savvy demographic." Snowden said, "The question has been asked over and over again around how do you attract younger generations -- Gen X, millennials. We have the opportunity with Barstool to do that now." Snowden said that the average casino-goer is "in their 50s and getting older," while a younger, more affluent demographic is "growing more interested in sports betting (WASHINGTON POST, 1/30). Snowden said what his company was "missing in this equation to really participate in the sports betting opportunity" was that they "didn't have a sports brand." Snowden said of Barstool, "They have the brand, they have the fan base, we have the distribution, we have the infrastructure and it really makes a lot of sense." Snowden noted before the start of next NFL season, fans "will see a Barstool sportsbook app" and retail Barstool Sportsbooks "at all of our casinos where it's legal." Fans will "likely see Barstool Sports bars throughout our properties as well" ("Mad Money," CNBC, 1/29).
