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In February 2023, Penn Entertainment jumped into the deep end of the sports betting pool with the purchase of Barstool Sports. The $388 million purchase was intended as a means of getting Penn into the lucrative U.S. sports betting community sooner rather than later.
At the time of the purchase, Penn's management indicated they would be taking steps to upgrade the Barstool sportsbook and casino software platform. Immediately after the acquisition was consummated, there was no timeline laid out for the software upgrade. After several months of hard work, the new Barstool Sportsbook and Casino app has been rolled out.
While existing customers were permitted to keep using the existing Barstool app, the company's software developers went to work to bring the app "up to par" with the competition. After several months of development and testing, the new app was released on July 14.
Before the new app was released, Barstool's management decided to take the existing app down for maintenance and upgrade. On Friday, July 7, the existing app was taken offline. After seven (7) days of installation and final testing, the switch for the new app was triggered. For the benefit of existing customers, there will be no need for them to download the new app or make adjustments to their account information.
Note: Barstool Sportsbook is currently available in Michigan, New Jersey, Pennsylvania, West Virginia, and a host of other states. With the upgrade, the company will be looking to continue expanding into other states where licensing is available.
With the software upgrade, Barstool customers can look forward to an improved online gambling experience. Here is a look at a few of the key changes that were made:
While addressing these changes with the press, Benjie Levy, President/COO of theScore and head of Penn Interactive stated:
“A technology migration of this scale requires an enormous amount of coordination and planning. I’m extremely proud of our Interactive team, who stepped up to the challenge to execute this complex project on time and with minimal disruption to customers."
Barstool Sports was founded in 2002 by David Portnoy. The company has been headquartered in New York since 2016 with a majority stake (51%) purchased by the Chernin Group. In 2020, Penn Entertainment (formerly Renn National Gaming) purchased a 36% stake in the company, lowering the Chernin Group's stake to the same 36%. The original launch date of the Barstool sports betting app took place in September 2020 with Pennsylvania sports bettors getting first crack at the new software platform and its features.
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