The Pennsylvania-based casino operator paid about $388 million to purchase the popular sports and pop culture company.
Barstool Sports has been sold to Wyomissing-based Penn Entertainment Inc.
Penn paid about $388 million for the remaining stake in Barstool Sports that it doesn't already own, the sports and entertainment company said Friday. Penn and Barstool Sports first announced an exclusive sports betting and iCasino partnership in early 2020. Penn took in February 2020 for approximately $163 million, comprised of about $135 million in cash and $28 million in non-voting convertible preferred stock.Get Philly local news, weather forecasts, sports and entertainment stories to your inbox.Barstool was founded in 2003 by Dave Portnoy as a free sports and gambling newspaper. It is now a digital platform that covers sports, lifestyle, and entertainment with more than 200 million followers.
“Barstool is a proven, powerful media brand with an authentic voice and vast, loyal audience that provides us with a strong top of funnel for new customer acquisition and organic cross-selling opportunities across our growing interactive division," Penn Entertainment Inc. CEO Jay Snowden said in a statement on Friday.
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Barstool Sports fully acquired by Penn EntertainmentPenn Entertainment Inc. paid about $388 million for the remaining stake in Barstool, which was first founded in 2003 by Dave Portnoy as a free sports and gambling newspaper.
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Barstool Sports is acquired by Penn EntertainmentPenn paid about $388 million for the remaining stake in Barstool that it doesn’t already own.
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Barstool Sports is acquired by Penn EntertainmentBarstool Sports has been sold to Penn Entertainment Inc. Penn paid about $388 million for the remaining stake in Barstool Sports that it doesn't already own, the sports and entertainment company said Friday.
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Barstool Sports is acquired by Penn EntertainmentPenn Entertainment Inc. paid about $388 million for the remaining stake in Barstool Sports that it doesn't already own, the sports and entertainment company said Friday.
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Barstool Sports is acquired by Penn Entertainment | amNewYorkBarstool Sports has been sold to Penn Entertainment Inc.
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