Barstool Sportsbook’s dad or mum firm, Penn Interactive LLC, has been deemed appropriate to function sports activities betting by state gaming regulators in Massachusetts.
Barstool Sports activities followers present their loyalty to the popular culture and social media model at a PGA Tour golf event. After mulling issues that Barstool Sportsbook would possibly encourage irresponsible playing, Massachusetts gaming regulators agreed to permit the platform entry into the commonwealth, however with situations. (Picture: Getty)
The Massachusetts Gaming Fee (MGC) is amid the tedious and time-intensive process of fielding sports activities wagering purposes from a wide range of gaming pursuits. The state legalized sports activities playing final yr, however operations haven’t but begun.
State gaming commissioners wish to set up the state’s sports activities betting market earlier than permitting any bets to be wagered.
Earlier than the vacation break, the MGC signed off on sportsbook purposes from the state’s three business land-based casinos — Encore Boston Harbor, MGM Springfield, and Plainridge Park. The state additionally accepted on-line sportsbook proposals from WynnBet, BetMGM, and Caesars Sportsbook.
Penn Interactive and Barstool required extra consideration by the MGC. The fee cited issues concerning Barstool founder Dave Portnoy’s relationship with Penn Interactive, which is totally owned by Penn Leisure.
The MGC voted unanimously on Wednesday to simply accept Penn Interactive’s sports activities wagering utility, however with contingencies. The state says Penn Interactive should be totally clear in the course of the MGC’s in-depth background probe of Barstool as soon as Penn takes full possession of the social media and gaming entity subsequent month.
Portnoy Downside
Penn Leisure in August exercised its proper to buy the remaining 50% of Barstool Sports activities for $250 million. The deal is anticipated to shut in February.
Penn Leisure plans to carry the Barstool Sportsbook model to Plainridge Park, which the Pennsylvania-based regional gaming big manages. As a Class 3 sportsbook licensee, Plainridge can lend its sportsbook privileges to 2 totally on-line platforms. Barstool Sportsbook will use a type of two tethered sports activities wagering alternatives.
Barstool Sports activities was based in 2003 in Boston by Portnoy. Initially a sports activities and popular culture weblog and social media outlet, the corporate ventured into gaming after promoting 36% of the model to Penn Leisure — then often called Penn Nationwide Gaming — in 2020 for $163 million. Penn has since elevated its Barstool stake to 50%.
Portnoy has confronted quite a few controversies lately.
In 2021, an expose of Portnoy’s alleged sexual escapades was detailed in Enterprise Insider. Portnoy disputed the media outlet’s claims that he engaged in violent, aggressive sexual encounters with girls and videotaped their relations with out their consent.
Enterprise Insider later ran a second report detailing alleged sexual harassment dedicated by Portnoy, accusations he denied by means of a lawsuit towards the publication. The lawsuit was dismissed by a federal choose in November.
Portnoy additionally scorned a December article printed in The New York Instances that claimed he and Barstool recklessly encourage the corporate’s followers to interact in dangerous playing behaviors. Portnoy stated he reached out to the author of the NYT piece, Emily Metal, earlier than the article was printed and provided to be an “open guide.”
She went ghost, crickets,” Portnoy informed Fox Information. “I didn’t hear from her for seven months.”
Metal stated she reached out to Portnoy “over per week earlier than” the story was printed, however “he declined to supply any solutions.”
Massachusetts Sports activities Betting Launch
Massachusetts gaming regulators are wanting to have in-person sports activities betting on the three casinos operational later this month. On-line sportsbooks are hopeful to obtain the go-ahead in March in time for the NCAA school basketball event.
The MGC has a number of extra sports activities betting purposes to contemplate, together with bids from Fanatics, DraftKings, FanDuel, Bally’s Interactive, PointsBet, Betway, and BetR.
