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.
“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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