Barstool Sportsbook to open at Greektown Casino

Categories: Michigan news, News | Published by: Alex W

12/10/2020

Barstool Sportsbook coming to Greektown Casino in Detroit

It has been revealed that the new Barstool branded retail sportsbook will open at the Greektown Casino-Hotel in Detroit. The news follows comes just weeks after Barstool Sportsbook launched its first sports betting app in Pennsylvania. The company has stated that the app would go live in more states “in the coming months” after entering the Keystone State’s sports betting market. Michigan hopes to launch its online sports betting and online casino gaming industry in November. Greektown has moved to align itself with one of the fastest growing online sports betting brands before the market before the launch date.

Hugh Flack, Vice President of Gaming Operations at Greektown, described the Barstool brand as “extremely exciting.” He also stressed that the brand has a loyal following that is “growing by the minute.” Flack believes that this move will separate them from the competition and puts them in a fantastic position.

The news of the sportsbook confirming its home has seen lots of exposure on Twitter. The Greektown Twitter account does not see many interactions; however, when it broke the news regarding the Barstool sportsbook, the post received over 500 retweets and 2,500 likes. Greektown has clearly recognized the popularity of the Barstool brand, and the casino will look to integrate further with the company in the future.

Penn National Gaming owns and operates Greektown, and they announced in January that it was acquiring a 36% interest in Barstool and would become their official gaming partner. Since the acquisition, Penn’s shares have risen steadily.

Barstool Popularity

Greektown has revealed they will be looking to have “live or recorded events at our facility” with the Barstool personalities. Flack said that whenever Barstool personnel attends an event, “they always attract a big crowd.” Flack was excited about the possibilities, commenting on the vast online presence Barstool has, and that it will be a powerful boost for the retail sportsbook.

The Barstool sportsbook app made its debut in Pennsylvania on September 18. During the first weekend of it being available, the app was downloaded over 63,000 times, including an impressive 23,000 downloads on Saturday, according to figures from Sensor Tower. It was boosted by a hectic sporting weekend as the NHL, MLB, NFL, college football, and US Open golf were all in action.

Comparing Barstool to other brands, the DraftKings sportsbook received 4,000 downloads from its opening weekend in New Jersey in 2018. FanDuel fared only slightly better with 9,000 downloads during the 2018 NFL opening weekend.

Flack said that the partnership with Barstool is “going to be very powerful” and allows them to “jump right into the deep end.” He feels that this move gives them a head-start on the competition, and they are going to capitalize.

Greektown Third in Michigan Sports Betting

Sportsbooks in Detroit have endured a rollercoaster few months since launching in March. MotorCity Casino, Greektown Casino, and MGM Grand Detroit were open for a few days before being forced to close due to the coronavirus pandemic. There is great hope that online sports betting in Michigan will begin next month.

They eventually reopened on August 5 with a 15% occupancy level. During the first month of reopening, all of Detroit’s sportsbooks combined to bring in $15 million in wagers, which worked out as $1.97 million in revenue.

Coming out on top was MGM Grand Detroit, with its BetMGM Sportsbook holding 48% of the market share handle ($7.5 million). The FanDuel sportsbook at MotorCity had 34% ($5.3 million) while Greektown posted 18% ($2.8 million).