penn national gaming buys barstool sports

The app also gives users an opportunity to engage with Barstool personalities.īarstool has benefited from the 2018 Supreme Court decision that has allowed sports gambling to flourish in states where it was long prohibited. During the Pennsylvania launch, more than 72,000 people registered, generating $300 million in bets.īets can be placed on 20 sports, including baseball, basketball, boxing, football, golf and hockey. The sale is expected to be completed by February 2023, Fox Business reported.Īfter Penn purchased its initial stake in the company, Barstool debuted the Barstool Sportsbook app, which allows online sports betting in 12 states, including Pennsylvania and New Jersey. The rollout included a soft launch in Pennsylvania, prompting Barstool founder Dave Portnoy to move to Philadelphia. To complete the transaction, the Berks County-based casino and race track operator must pay $62 million to increase its stake to 50% and then another $325 million for the rest of the shares.

Philly's monkeypox data reveal racial disparities that recall early COVID-19 response.

Philly will miss the northern lights this time, but they may be visible in the months to come.

Jazmine Sullivan to appear on upcoming season of 'The Voice' as John Legend's advisor.

Penn has since exercised a provision that allows it to purchase Barstool's remaining shares through a two-step process. Penn Entertainment, which rebranded from Penn National Gaming earlier this month, purchased 36% of the digital media company in 2020 for $163 million.

Penn Entertainment is taking full control of Barstool Sports as part of a $387 million deal.

Penn national gaming buys barstool sports