Penn Entertainment Inc., a well-known fantasy sports and sports betting company, has been presented with the “Heavy Hitter” award by Benzinga during the inaugural Titans Sports Betting conference.
What Is The Heavy Hitter Award?: Given to companies that have made significant market share gains and strategic accomplishments, the Heavy Hitter Award recognizes outstanding financials, innovative spirit, mergers and acquisitions, and compliance. A panel assessed key criteria to select the winners.
The Decision: Penn Entertainment Inc., PENN, was named a winner for its leadership in fantasy sports and sports betting across the United States.
In the first quarter of 2023, the company’s revenue increased by 7.24% to $1.673 billion compared to the same period of the previous year.
In addition to strong top-line growth, Penn Entertainment raised its market share in the United States by 18% compared to the previous year by acquiring Barstool Sports.
Leveraging the extensive influence of the Barstool brand and its renowned personalities, Penn Entertainment improved brand recognition and digital engagement at its physical locations by hosting popular figures like Dave Portnoy in Ohio and Louisiana during March Madness.
Benzinga commends Penn Entertainment and its achievements in transforming the market in the 15 states where it provides sports betting.
