Pointsbet Holdings Limited announced today the Pennsylvania Gaming Control Board (PGCB) awarded sports wagering and interactive gaming operator licenses for its wholly-owned subsidiary PointsBet Pennsylvania.
Long-Awaited Launch is Inching Closer
PGCB’s decision to grant PointsBet sports betting and online casino operations licenses brings the Australian-based gaming company even closer to its coveted launch of online sports wagering and iGaming in Pennsylvania.
Commenting on the news, PointsBet USA chief executive officer Johnny Aitken expressed how excited everyone at PointsBet is as the company is “inching closer” to offering its “market-leading products” to sports fans and bettors alike in the state, in partnership with Penn National Gaming (PNG).
“With Pennsylvania ranking among the top five sports betting states in the nation, PointsBet is thrilled to be able to soon establish its presence in this lucrative market, and we are appreciative of the support we’ve received from the state of Pennsylvania and the great people at the Gaming Control Board.”Johnny Aitken, CEO, PointsBet USA
PointsBet expanded its partnership with PNG in March last year to include market access in Pennsylvania and Mississippi and to pave its way for a future launch by meeting the state’s requirement for any online sportsbook to be tied to a land-based casino.
Under the part of the agreement related to Pennsylvania, Hollywood Casino York, which is operated by PNG and features retail Barstool Sportsbook on site, will provide its property’s license to enable market access for PointsBet. PNG’s other land-based properties in the state entered into similar agreements: Hollywood Casino at The Meadows with DraftKings and Hollywood Casino in Morgantown with BetMGM.
PointsBet was reluctant to launch operations in Pennsylvania back in 2018, deterred from the 36% tax on sportsbook revenue in the state as compared to New Jersey which taxes online sportsbooks with 13% but the market access agreement with PNG signaled the end of the wait-and-see approach.
NBC Sports to Ensure Media Presence
For its future engagement with sports fans and bettors in Pennsylvania, PointsBet will rely heavily on its sports betting partnership with NBC Sports established in August 2020 which made the sportsbook operator the exclusive provider of odds of the network.
“With NBC Philadelphia being a key asset in the NBC Sports portfolio, it will play a vital role in our ability to reach new customers and build brand recognition in this new market. We are excited to continue telling the PointsBet story and demonstrate to sports fans and bettors in Pennsylvania exactly what sets the brand apart among the rest.”Kyle Christensen, Chief Marketing Officer, PointsBet USA
As part of the five-year agreement with NBC Sports, PointsBet receives year-round multi-platform media and marketing opportunities and integrations across the entire network of regional channels, including NBC Sports Philadelphia, the regional broadcast home to MLB’s Phillies, NBA’s 76ers and NHL’s Flyers.