Penn National generated $1.51 billion in revenue in Q3 2021, an increase of $382.1 million year-over-year. 

The company, however, saw its stock plunge by as much as 22% — a 52-week low — on Thursday after weak profit results and a report that accuses Barstool Sports founder Dave Portnoy of sexual misconduct.

Portnoy denied the accusations on Thursday in a 12-minute video posted on Twitter.

The casino operator’s net income was $86.1 million in Q3, down from $141.9 million in the same period a year prior. 

Penn is looking to benefit from the growth of sports betting and its Barstool Sports brand. 

• In April, it agreed to acquire Score Media and Gaming for $2 billion.
• It launched the Barstool Sportsbook app in five states in Q3, bringing the total to 10. 
• Barstool has signed 135,000 students to its NIL program.
• It plans to open Barstool-branded sports bars in Philadelphia and Chicago. 

In September, Barstool Sports CEO Erika Nardini told Front Office Sports she predicts the company will top $200 million in revenue by early 2022. 

Penn National acquired a 36% stake in the media brand in January 2020 for $160 million.

Liberty Media, the parent company of SiriusXM, Formula One Group, and the Braves Group, reported third-quarter earnings Thursday — two days after the Atlanta Braves won their first World Series title since 1995.

The MLB team brought in $234 million in revenue — more than double the $110 million the division brought in last year.

The 113% increase is largely attributed to renewed full-capacity attendance at Truist Park, after no fans were allowed last season. Baseball revenue, which includes ballpark operations, local broadcasting rights, and shared MLB revenue streams, increased 118% to $222 million.

The team is second in the league for regular-season attendance at 2.3 million, an average of 29,490 per home game. The ​​Los Angeles Dodgers’ 2.8 million led MLB.

Formula 1’s revenue grew 10% year-over-year to $668 million, despite only having seven races compared to 10 races in the same period last year.

• The U.S. Grand Prix had a total attendance of more than 400,000 over its three-day weekend — the largest race in F1 history.
• F1 signed a 10-year deal with Qatar for a permanent spot on the championship calendar starting in 2023.

SiriusXM, which includes programs that cover fantasy sports, NASCAR, the NFL, MLB, and the PGA Tour, saw revenue jump 9% year-over-year to $2.2 billion. Liberty Media owns 78.1% of SiriusXM.

Fox Corp. beat Wall Street forecasts in its fiscal first quarter, reporting a 12% year-over-year sales increase to $3.05 billion, compared to an estimated $2.94 billion.

Fox attributed the return of a full schedule for Fox Sports’ live events and growth of its streaming service Tubi.

Despite net income falling from $1.12 billion to $791 million, ad revenue jumped 17%.

On Wednesday, Fox also announced a media rights deal with the Union of European Football Associations to feature more than 1,500 soccer games, beginning in June 2022 with the UEFA Nations League.

Financial terms were not disclosed, but previous reports stated that UEFA was seeking $300 million for Euro 2024 and Euro 2028. ESPN paid $115 million for Euro 2020 alone.

The six-year agreement adds to Fox’s already long list of media rights.

• In March, the company signed a broadcast rights deal with the NFL for about $2 billion annually.
• Fox owns U.S. media rights to the 2018 and 2022 World Cups as part of a $425 million deal. That was extended in 2015 to also include the 2026 World Cup and 2023 Women’s World Cup.

Fox has rights to air the Super Bowl in 2023 — and is already selling ad spots.