Barstool Sportsbook Gets Denied By New York State Gaming Commission
New York has spoken. The New York State Gaming Commission finally released which sportsbooks would be allowed to operate in their state. The title is sort of a dead giveaway but Barstool Sportsbook was not approved by the state. It’s absolutely huge news.
“The two winning bids:
Bally Bet, BetMGM, DraftKings Sportsbook and primary applicant FanDuel Sportsbook.
Caesars Sportsbook, PointsBet, Resorts World, Rush Street Interactive, WynnBET and primary applicant Kambi.
Those sportsbooks will see gross sports betting revenue taxed at 51%. All nine will be licensed for 10 years based on the tax rate.
Four of the six submitted bids failed, which was expected following a published report last week:
Barstool Sportsbook and Fanatics Sportsbook with primary applicant Kambi
bet365
FOX Bet
theScore Bet“
Penn National Gaming’s stock already took a hit from the alledged news about Dave Portnoy. This news is another bad development for their stock. New York is huge obviously. It’s also the state that Barstool operates so it’s a huge deal (or should be).
Sure, any Barstool employee can just hop over to New Jersey to do its thing. They already have a house dedicated to gambling in Jersey and Pennsylvania. It’s still wild that New York essentially approved everyone except Fox Bet. theScore is also owned by Penn so they really took a double L.
To add my own little spin here, I’ve never understood the appeal of New York. It’s overcrowded, smells like trash, and has weird regulations. Here is a perfect example.
Vaccine stuff aside, I see absolutely no appeal to New York. It was and never will be considered for the home of Vendetta Sports Media.
However, Barstool management has moved on with a PENN Entertainment and has joined
forces with ESPN to rebrand as ESPN Bet in states where Barstool has a license to operate,
with the hopes of becoming one of the best Iowa sportsbook promos.
