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Rivers Casino began online sports betting on June 25, 2019. [29] On September 29, 2019, Rivers Casino opened the permanent 5,500-square-foot (510 m 2) BetRivers Sportsbook, which contains two 50 by 7 feet (15.2 m × 2.1 m) LED monitors, 24 flat-screen HD monitors, six betting windows, and 33 self-serve kiosks. [30]
On January 29, 2020, casino company Penn National Gaming purchased a 36% stake in Barstool Sports for $135 million in cash and $28 million in preferred stock, valuing Barstool at $450 million. Penn National would have the option to pay an additional $62 million in 3 years to increase its stake to 50%.
In August 2023, Penn reached a ten-year, $2 billion licensing agreement with ESPN Inc., under which Penn would rebrand Barstool Sportsbook as ESPN Bet later in the year. To license the branding, Penn would pay $1.5 billion in cash, and give ESPN options for $500,000 of its stock. ESPN would provide promotion for the service.
DraftKings Inc. is an American gambling company based in Boston, Massachusetts.It offers sportsbook and daily fantasy sports (DFS) services.. The company was originally launched in 2012 as a DFS provider, competing principally with the New York–based FanDuel.
In an interview with Digiday, Badan discussed Barstool Sports' growth during her tenure, from a valuation of $15 million in 2016 to $450 million in 2020. [16] In September 2021, Badan stated that the company's revenue was expected to exceed $200 million in revenue, doubling the company's $100 million revenue in 2020.
The property was bought by AC Ocean Walk, LLC for $200 million in 2017, and reopened in 2018 as Ocean Casino Resort. [ 76 ] [ 77 ] In the wake of the closures and declining revenue from casinos, Governor Christie said in September 2014 that the state would consider a 2015 referendum to end the 40-year-old monopoly that Atlantic City holds on ...