Alberta's Betting Market: Insights from Penn CEO Jay Snowden

Watch Alberta's Betting Market: Insights from Penn CEO Jay Snowden - SportsGrid on Dailymotion

Transcript

00:00Our first focus here is Alberta, let's begin with Jay Snowden, the CEO of Penn, having

00:09some very intriguing words on what the future may look like there.

00:13Yeah, so it wasn't that long ago that Penn, Jay Snowden is the CEO of Penn Entertainment,

00:21they spent $2 billion on the score, a very well known Canadian sports, you know, entertainment

00:31brand, however you want to put it, with a sports betting arm, they spent a lot of money

00:38on that.

00:39And then they took them out of America where they had a little bit of a, you know, endeavor,

00:43but very little market share.

00:47And so now we're going and they're laying, you know, what they can do in Ontario was

00:53huge with the score from all signs.

00:56And now they're looking at Alberta, which, you know, we've talked about before on this

01:01show, that Alberta is going to open up, it's a very small province in comparison to Ontario,

01:09the population's tiny.

01:11But you know, there's a lot of betting going on there, there's a lot of casinos, there's

01:17a lot of people who like to bet from what I gathered at the Canadian Gaming Summit

01:21last two months ago now.

01:24And there's a lot of people very bullish, including Jay Snowden and Betway, a brand

01:29that just pulled out of the US or will be pulling out of the US, but they're going to

01:33stay in Canada.

01:34And they see big things in Alberta, too, because there are a lot of brands have been okay with

01:38what's happened in Ontario.

01:40And they see Alberta going ahead and taking exactly that model and putting it in Alberta.

01:46And, you know, really benefiting from a public that likes to bet on sports and bet in general.

01:51I mean, one of the people at the Canadian Gaming Summit a couple months ago pointed

01:56to the Oilers playoff 50-50 raffles.

02:00During the regular season, they were, you know, $4 million or something like that, nothing

02:04huge, it got up to $12-16 million during the playoffs from their anecdotes, which is pretty

02:12wild if you think about that and coming away from a game with half of that, that'd be okay.

02:18But that just shows that they're very excited about the prospect of being able to bet on

02:22their teams, I would think just, you know, going to a game and throwing down some money

02:26just because of a raffle.

02:28But there's lots of teams there.

02:29There's the hockey teams, there's the Canadian football teams, there's, of course, the NFL,

02:33everybody loves the NFL.

02:34So a lot of opportunity in Canada and brands are already talking about Alberta being the

02:39next frontier there.