A leading fantasy sports and sports betting company has been honored with the "Heavy Hitter" award from Benzinga at the first Titans Sports Betting conference.
What's A Heavy Hitter?: The Heavy Hitter Award is reserved for companies who've demonstrated material market share gains, competitive advantages and strategic acclaim. A jury evaluated key criteria including financials, innovative spirit, M&A and compliance.
The Decision: PENN Entertainment Inc PENN was selected for its leadership in fantasy sports and betting across the U.S.
In the first quarter of 2023, revenue rose 7.24% from the year-ago period, reaching $1.673 billion.
In addition to top-line growth, Penn Entertainment grew its market share in the U.S. by 18% from the year-ago quarter thanks to its completed acquisition of Barstool Sports.
Using the strong influence of the Barstool brand and its notable personalities, Penn Entertainment increased brand awareness and digital engagement at its physical properties by hosting Dave Portnoy and others at locations in Ohio and Louisiana during March Madness.
Benzinga congratulates the Penn team and their efforts in transforming the market in the 15 states in which it offers sports betting.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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