Barstool Sports announced on its social media accounts that it will be opening a bar in the River North neighborhood of Chicago.
Barstool Sportsbook has established a presence in Illinois, offering a similar experience to a retail sportsbook despite not being an official registration location. It is expected to attract a growing following in the state.
Discover more: Latest information on the bar’s operating hours
PlayPennsylvania has just unveiled the precise location of the upcoming Barstool sports bar in Chicago, following our exclusive reveal of the Philadelphia location.
According to a story on Barstool Chicago’s Instagram, the location for the new establishment will be 18 W Hubbard St. in River North, formerly known as Henry’s Swing Club. This area is known for its high foot traffic in the city of Chicago.
https://t.co/gQVLYGNfXg – Salt of the Earth
Tom Leigh (Lay) tweeted on January 6, 2022.
The timing of when the sporting club became available is still uncertain. However, during a recent revenue visit, Jay Snowden, the President and CEO of Penn National Gaming, mentioned:
We plan to open the first two standalone sports bars under the Barstool brand in Philadelphia and Chicago in the coming months. This expansion demonstrates our commitment to a more specialized, adaptable, and prestigious approach to our omni-channel strategy.
What is the state of Barstool Sportsbook in Illinois?
Barstool has surpassed PointsBet in Illinois in the most recent two earnings reports, solidifying its spot as the fourth top sportsbook in the state. Barstool reported a handle of $69.8 million just in the month of October.
The monthly handle of this company falls far behind that of DraftKings, FanDuel, and BetRivers. For comparison, DraftKings Sportsbook saw a handle of $315.3 million in October.
PointsBet exceeded Barstool in terms of monthly revenue.
Despite this, Barstool has not received favorable coverage in Illinois. In April, Governor JB Pritzker reinstated in-person registration, just three weeks after Barstool launched on March 11. As a result, Barstool has had much less time to register individuals electronically compared to its competitors.
Barstool is anticipated to climb the profit rankings once online registration resumes, which is expected to occur in the upcoming weeks.
By March, online membership should be back.
The Illinois House and Senate approved HB 3136, which establishes a deadline for in-person registration by March 5, 2022, as shown in the slide.
Furthermore, three operators whose identities have not been disclosed have submitted applications for licenses to offer online sports betting exclusively. If the Illinois Gaming Board (IGB) approves a license before March 5, remote registration will be reinstated.
Nevertheless, based on past timelines, it is unlikely that the IGB will challenge a license prior to that point.
The sports betting market in Illinois is poised for a major shift with the return of mobile registration. The number of sportsbooks is expected to grow significantly, Barstool’s popularity is set to skyrocket, and there is a possibility of reaching a $1 billion handle month in the near future.
With all the ups and downs, it’s difficult not to feel positive about the future of gambling in IL.
