Penn National Gaming has launched Penn Game Studios (PGS), an in-house content development team focused on creating exclusive iCasino content for its customers.
To fuel this effort, the Company is acquiring HitPoint Studios and its spun-off real money gaming company LuckyPoint. The acquisition is expected to close in the near term, subject to the satisfaction of customary closing conditions.
“We are incredibly excited to be launching Penn Game Studios, which is another important step in our Company’s evolution into the leading omni-channel provider of retail and interactive gaming, sports betting and entertainment. We will now have the ability to create exclusive content for our audiences, further leverage the Barstool Sports brand and our database of 20 million mychoice customers, and create cross-marketing opportunities with our brick and mortar facilities,” Jay Snowden, President and CEO of Penn National, said.
“We are thrilled to be joining Penn National and bringing our expertise to the Company’s interactive division. We look forward to adding our creativity, design and engineering skills to an already well-accomplished team at Penn National,” Paul Hake, CEO of HitPoint, said.
Upon completion of the acquisition, the team of 30 employees from HitPoint and LuckyPoint will be integrated into Penn National’s wholly-owned interactive division, Penn Interactive. The team comprised highly skilled designers, artists, and engineers with a passion for creating and enabling new play patterns through innovative design and technology.