Following the announcement of its partnership with Barstool Sports last week, Penn National’s chief executive has said he believes the company should be the most profitable sportsbook in any market in which it operates.
During a quarterly earnings call with investors Thursday morning, Penn National CEO Jay Snowden said that the company’s large regional footprint and newly-announced media partnership would lead to cost savings that give them an advantage over competitors.
“We don’t have the friction costs associated in most states with having to go in with a skin partner and pay 5 to 15 percent of net gaming revenue just for access; that is a huge cost savings,” Snowden said.
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