David Portnoy

Penn National Acquires Interest in Barstool Sports

Penn National Gaming, Inc. has entered into an agreement to acquire a 36% interest in Barstool Sports, Inc., a digital sports media company, for approximately $163 million in cash and convertible preferred stock. Under the agreement, Penn National will be Barstool Sports' exclusive gaming partner for up to 40 years and have the sole right to utilize the Barstool Sports brand for all of the company's online and retail sports betting and iCasino products. Penn National's initial investment for 36% of the equity of Barstool Sports is comprised of approximately...

[ Read More ]
X

Never miss another story from the TDN

Click Here to sign up for a free subscription.