Phoenix Raceway Won’t Have Barstool Sportsbook

The NASCAR venue has confirmed for Gaming Today, a specialist media covering the gambling industry, that Penn Entertainment, the company that owned Barstool Sportsbook, was trying to see if building a dedicated facility would actually make financial sense.

Barstool Sportsbook Not as Keen to Jump in Phoenix Raceway

For the time being, this is not really the case, suggests NASCAR managing director for sports betting Joe Solosky who spoke to the outlet and explained the dynamic of why such partnerships may bear fruit or fall through. Barstool Sportsbook would be looking for a place with a strong footfall and a constant stream of sports fans.

The Phoenix Raceway usually only hosts two events from the NASCAR Circuit every year, and this is always subject to change as the schedule can be easily altered. Apart from Arizona, Penn’s Entertainment Barstool Sportsbook is also now present in Maryland, a state that once upon a time hosted the popular Beltsville Speedway‎.

There is already a good representation of sportsbooks that are part of stadiums and arenas in the Phoenix arena, and it is likely that Barstool feels that it would be at a disadvantage investing and competing against the venues at Chase Field or State Farm Stadium both of which have a major pull with sports aficionados.

Of course, the Phoenix Raceway does not only host NASCAR. There is the Xfinity series, ARCA and even Craftsman Truck, but these other events tend to peter off when it comes to actual attendance rates. The raceway is repurposed as a meeting and concert space in the time that races aren’t being conducted there, but there is little evidence to suggest that the people who actually attend the venue at those times are those that would be interested in placing a wager either.

NASCAR Still Doesn’t Pull Quite the Same Crowds as Other Companies

NASCAR is not shying away from striking tighter partnerships with gambling companies. In fact, Barstool Sportsbook presented the Hollywood Casino 400 event which was held in Kansas last year.

The motorsports organization though is not as big as other major American sports, and this is why any company that wants to perch a location at a raceway would need to find a strong financial justification to carry on with its plans.

All the while, Barstool has continued to scale up its presence in regulated states in the United States. The company has obtained a conditional license in Massachusetts.