11/23/2023 0 Comments Penn gaming casinos boughtPenn National just took a shortcut to the state’s sports betting market State residents voted in favor of sports betting on a November ballot referendum and the legislature passed the bill in April. Maryland Governor Larry Hogan signed a sports betting bill into law on May 18, so it wasn’t exactly “a few weeks ago,” but Snowden’s enthusiasm can be forgiven. This acquisition provides another opportunity to expand our unique omni-channel platform with a Barstool-branded retail sports book and mobile app.” In fact, Snowden talked about it in Thursday’s press release, saying: “….we’re equally excited to be entering this market following the legalization of sports betting in Maryland a few weeks ago. While operating Hollywood Casino Perryville is exciting, Penn National’s primary objective may have been to get into Maryland’s sports betting industry. Gaming and Leisure Properties is a real estate investment trust spun off from Penn National Gaming, the first of the past decade’s trend of REITs originating from casino corporations in the companies’ move to become “real estate light.” GLPI was formed in 2013, MGM Growth Properties sprung from MGM Resorts in 2015, and Caesars spun off VICI Properties in 2017.
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