Boom Sports partners Penn National Gaming to enter five US states23rd April 2020 1:02 pm GMT
New York-based fantasy sports provider Boom Sports has secured market access to launch a mobile sportsbook and online casino in five US states through a partnership with Penn National Gaming.
Boom Sports will receive five sports betting and iCasino skins from Penn National to operate its own consumer-facing sportsbook and online casino in Ohio, Missouri, Louisiana, Mississippi, and New Mexico, under a 20 year license.
In exchange for the sports betting licenses, Boom Sports will not pay any upfront cash but will instead build a series of free-to-play and real-money games for Penn National. The first product, NASCAR Finish Line, was launched in February, with a second product under the Barstool Sports brand to launch in the coming months.
“This agreement marks a pivotal moment in the history of Boom Sports,” said Boom Sports co-founder and CEO Stephen Murphy. “As we aim to become the premier technology provider for the real-money online gaming industry, this deal will allow us to unveil our unique sportsbook vision directly to consumers.
“We're thrilled to take this first step with Penn National Gaming in offering premier free-to-play and real-money products for the US gaming industry. We look forward to establishing ourselves as the premier partner in the US casino industry just as we have done for US sports leagues and media companies.”
The agreement will give Boom Sports primary skins in Mississippi and Louisiana, a second skin in Ohio, and third skins in Missouri and New Mexico, as well as an understanding to pursue commercially reasonable efforts in additional states.
“We look forward to powering the digital products of the leading online casino operators in the world through our innovative game content, casual-friendly user experience, and superior technology,” said Boom Sports chief technology officer and president Med Nadooshan.
“This market access deal allows Boom to get our regulated, real-money products in front of consumers directly so we can make sure our partners get the most proven and successful products.”
Boom Sports added that as it launches a consumer-facing sportsbook, either under its own brand or a partner's brand, the company remains committed to its B2B focus, having worked with partners including NBC Sports, XFL, as well as Penn National Gaming and its partners in NASCAR and Barstool Sports.
Shares in Penn National Gaming Inc (NSQ:PENN) closed down 2.14 per cent at $13.28 per share in New York Wednesday.