Penn National Gaming Inc. is set to start offering in-house content via its proprietary content development system known as Penn Game Studios. Penn National also announced that it will acquire LuckyPoint Inc. and HitPoint Studios Inc. to accelerate the launch.
Penn National Gaming is following in the same path as gambling companies such as Entain and 888 Holdings in terms of offering proprietary gambling content. The iGaming and sports betting company announced its intention to start offering in-house gambling content via its proprietary software, Penn Game Studios.
In its bid to take control of the majority of its technology and give it the best head start, PGS also announced it will acquire LuckyPoint Inc. and HitPoint Studios Inc. In its press release, PGS indicated that it’s close to completing the acquisition. Satisfying certain closing conditions is what stands its way.
Jay Snowden, who is the CEO and President of Penn National, commented on the collaboration. According to the CEO, the deal is crucial for the company as it evolves as a sports betting, entertainment, and retail gaming provider.
Mr. Snowden added that the company will have the capacity to create original content for its audiences. Furthermore, the move is set to leverage the sports brand as well as its database that contains mychoice customers surpassing the 20 million mark. Finally, the President said the partnership will create opportunities for its physical locations.
HitPoint has built quite the reputation for developing unique gaming content for various leading companies. These include Google, NBCUniversal, Disney, and EA just to mention a few. As a result, this makes it a valuable asset for Penn National ahead of its planned launch of Penn Game Studios.
HitPoint’s particular area of expertise lies in developing real-time multiplayer content for mobile. The content runs on its proprietary software. HitPoint later spun off LuckyPoint Inc. This was in 2019 as it looked to concentrate on developing real-money gaming titles and remote gaming servers. Paul Hake, the company’s CEO expressed his excitement as HitPoint prepares to join the Penn National team.
The CEO was particular about what his team will bring to the table. According to Mr, Hake, Penn National is an already established company, and adding engineering, design, and creativity skills to the team will add to PNG’s strength. According to the deal, Penn National Gaming will adopt all 30 employees from HitPoint.
Penn National is on a good run of financial performances. The newly-regulated gambling markets opening in the US are hugely responsible for the rise in its sports betting offerings.