Remaining Barstool shares go for $325m to gaming company
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작성일 22-09-28 23:14본문
Barstool Sports will be under new ownership by February of next year.
online casino operator Penn Entertainment Inc. has exercised its right to buy the remaining shares of the controversial sports media giant for a total of $325 million, according to Wednesday's SEC filing reviewed by DailyMail.com. Penn (formerly: Penn National Gaming) initially bought 36 percent of Barstool at a cost of $161.2 million in 2020.
Barstool had already made the jump from sports media to gaming with the help of Penn, which has already launched sports books under the website's brand.
Barstool was acquired at a valuation of $650 million, which some saw as a bargain.
'I bet Spotify would pay $1.5 billion for Barstool in a minute,' tweeted sports business reporter Darren Rovell.
David Portnoy, founder of Barstool Sports, speaks during a radio broadcast prior to Super Bowl LIV on January 30, 2020 in Miami Beach
The Barstool Sportsbook section of the casino.
At the Hollywood Casino Morgantown during a preopening press tour of the facility Friday morning December 17, 2021
While the raunchy sports- and online casino sex-themed media company may have helped Penn reach younger gamblers, online casino it also brings its own baggage.
online casino operator Penn Entertainment Inc. has exercised its right to buy the remaining shares of the controversial sports media giant for a total of $325 million, according to Wednesday's SEC filing reviewed by DailyMail.com. Penn (formerly: Penn National Gaming) initially bought 36 percent of Barstool at a cost of $161.2 million in 2020.
Barstool had already made the jump from sports media to gaming with the help of Penn, which has already launched sports books under the website's brand.
Barstool was acquired at a valuation of $650 million, which some saw as a bargain.
'I bet Spotify would pay $1.5 billion for Barstool in a minute,' tweeted sports business reporter Darren Rovell.
David Portnoy, founder of Barstool Sports, speaks during a radio broadcast prior to Super Bowl LIV on January 30, 2020 in Miami Beach
The Barstool Sportsbook section of the casino.
At the Hollywood Casino Morgantown during a preopening press tour of the facility Friday morning December 17, 2021
While the raunchy sports- and online casino sex-themed media company may have helped Penn reach younger gamblers, online casino it also brings its own baggage.