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    PENN Entertainment Completes Purchase of Barstool Sports

    • On Friday, the company announced it had finalized an acquisition of the remaining 64% of Barstool for $388 million.
    • PENN bought the first 36% of the company in 2020 for about $163 million.
    By
    Feb 17, 2023 | 02:14 pm
    UPDATED Feb 20, 2023 | 08:03 pm
    Digital signage for Barstool Sportsbook inside a casino.
    Evert Nelson / USA TODAY NETWORK

    PENN Entertainment now owns Barstool Sports in its entirety.

    On Friday, the company announced it had finalized an acquisition of the remaining 64% of Barstool for a total of $388 million.

    Barstool-Sports
    Sports Betting
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    “This is a huge moment for Barstool Sports,” the media outlet’s CEO Erika Ayers said in a statement.

    PENN bought the first 36% of the company in 2020 for about $163 million, then launched a sportsbook.

    Penn said in a press release that since it first got involved with Barstool, the media outlet’s ad sales have gone up 160%, and its audience has grown 194%. It also launched new properties, like the Barstool Sports Arizona Bowl.

    Penn Entertainment — which recently rebranded from Penn National Gaming — also owns Canadian media outlet theScore.

    “Barstool, combined with theScore’s reach and highly engaged user base, creates a massive digital footprint and ecosystem that will serve to propel Barstool Sportsbook and our uniquely integrated media and gaming business,” Penn Entertainment CEO and president Jay Snowden said in a statement.

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