Barstool Sports was sold to Penn Entertainment Inc.
Penn paid about $388 million for the remaining stake in Barstool Sports 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 acquired a 36% stake in Barstool Sports in February 2020 for approximately $163 million, consisting of about $135 million in cash and $28 million in non-voting preferred stock. stock.
The initial deal included a path for Penn to acquire full ownership of Barstool Sports.
- Anticipated sportsbooks like Barstool Sportsbook MA, BetMGM MA and Caesars MA all set to go live in April. New players can sign up using promo codes with a FanDuel MA and DraftKings MA
Barstool was founded in 2003 by Dave Portnoy as a free sports and gambling newspaper. Today it is a digital platform covering sports, lifestyle, and entertainment with more than 200 million followers.
- Related: Barstool Sports founder Dave Portnoy reviews Casa Pizzeria in Ludlow while mispronouncing the town’s name
Barstool is a proven, powerful media brand with an authentic voice and a large, loyal audience that gives us a strong top of the funnel for new customer acquisition and organic cross-selling. opportunities in our growing interactive division,” Penn Entertainment Inc. CEO Jay Snowden said in a statement Friday.
- Online sportsbooks can be live in Massachusetts in Spring 2023. Approved by MGC DraftKings Sportsbook MA, FanDuel MA and Barstool Sportsbook MA
