The Skins Game: Following Landmark Deal, Penn National Gains Flexibility To Leverage Primary Skins
While some companies acted swiftly to form partnerships in the wake of the Supreme Court’s historic sports betting ruling, Penn National Gaming has taken a more thorough, judicious approach.
Nowhere was the strategy more evident than late last month when the company awarded 32 “skins” to four sportsbook operators as part of a historic market access agreement. The skin agreements enable the companies – DraftKings, PointsBet, theScore and The Stars Group – to (potentially) establish a presence across many of the 19 states where Penn National properties are located, while expanding their footprint to a host of untapped markets throughout the nation.
Despite handing out more than a dozen “first” skins under the agreement, the company has still retained its primary skins in the majority of the jurisdictions where it maintains a presence. To that end, Penn National Gaming (PNG) also announced a new partnership with Kambi Sports, which becomes the exclusive provider of sports wagering technology to PNG. “The skin deals which Penn National also announced are secondary and separate to our agreement with them,” Kambi’s Chief Commercial Officer Max Meltzer told Sports Handle.