BetMakers, a prominent player in the betting technology sector, has recently inked an exclusive licensing agreement with Hollywood Casino at Penn National Race Course. This strategic partnership aims to introduce fixed-odds horse race betting to the New Jersey market through the MonmouthBets platform.
Collaboration Overview:
Under the agreement, BetMakers will provide its innovative fixed-odds horse race betting offering to New Jersey’s racing enthusiasts through Hollywood Casino at Penn National Race Course. This collaboration reflects a commitment to enhancing the wagering experience for racing fans in the region.
Chris McErlean, Vice President of Racing for Penn Entertainment, expressed enthusiasm about the partnership, highlighting the goal of gauging the response to the product in New Jersey’s fixed-odds wagering market. The collaboration is anticipated to yield positive returns for both Penn National and the broader racing industry.
Strategic Impact and Expansion:
BetMakers Technology Group’s CEO, Jake Henson, emphasized the significance of making Penn National’s high-quality racing content available to fixed-odds bettors in New Jersey. The partnership not only showcases Penn National’s commitment to delivering top-notch racing but also contributes to expanding the fixed-odds betting content schedule in the New Jersey market.
Henson expressed excitement about the collaboration’s potential to demonstrate the opportunities arising from combining fixed-odds and tote betting. As the partnership progresses, there are plans to incorporate additional Penn Entertainment content, underscoring the strategic alignment between BetMakers and Penn National.
Technological Milestone for Penn Entertainment:
Penn Entertainment recently achieved a significant milestone by completing the migration of Barstool Sportsbook & Casino to its proprietary online gaming technology platform. Operating in all 16 jurisdictions where it has a presence, this achievement signifies Penn Entertainment’s fulfillment of its long-term strategic objective to attain technology independence.
The company’s strategic roadmap included pivotal steps such as the acquisition of Score Media and Gaming, coupled with the launch of Penn Game Studios in 2021. The successful migration underscores Penn Entertainment’s commitment to technological advancements within the online gaming and betting landscape.
As BetMakers and Hollywood Casino collaborate to introduce fixed-odds horse race betting to New Jersey through MonmouthBets, the partnership not only enriches the wagering options for consumers but also exemplifies the evolving landscape of technology-driven innovations in the gaming industry. Penn Entertainment’s technological independence sets the stage for continued growth and adaptability in the dynamic world of online gaming and betting.