Penn National Gaming has announced the purchase of HitPoint Studios, Inc. and its subsidiary LuckyPoint Inc. in a deal that plunges the company into the content creation field. Through the acquisition, Penn indicates that they will be focusing on the development and production of content for online casino customers through a new effort called Penn Game Studios.
HitPoint has designed multi-player mobile games for Disney, Google, NBCUniversal, and others, and is considered one of the cutting-edge game developers in the industry. LuckyPoint is an arm of HitPoint that develops popular casino table games, slot machine games, as well as retro arcade-style games for mobile platforms. Both HitPoint and LuckyPoint will be incorporated into the Penn Interactive division.
“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,” said Jay Snowden, President & CEO of Penn National, in an announcement released Monday.
Penn’s move is the latest in a trend of licensed gaming operators pouring money into the content space. Increasingly, operators are making the choice to craft content and experiences for their users that will entice even more interaction and ultimately increase profits, rather than rely on outside companies to develop, produce, and host such content.
About Penn National Gaming
Based in Wyomissing, Pennsylvania, Penn National Gaming, Inc. operates casinos and racetracks, including 43 in North America. Penn also owns a 36 percent stake in Barstool Sports, which creates websites with local and national pop culture content, as well as radio shows and podcasts