• Loading stock data...
Friday, December 13, 2024
    More
    Media

    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
    | by

    Barstool Sports’ Future Parent Posts $1.6B In Revenue
    PENN Entertainment reported $20.8 million in fourth-quarter net income.
    February 2, 2023

    “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.

    Linkedin
    Whatsapp
    Copy Link
    Link Copied
    Link Copied

    What to Read
    opinion
    by

    Why Bill Belichick’s Media Stint Could Help Him at UNC
    Belichick became a media fixture during his year away from coaching.
    by

    Belichick Makes UNC Intentions Clear: ‘I Didn’t Come Here to Leave’
    North Carolina formally introduced Bill Belichick on Thursday.
    by

    NBA Cup Schedule May Benefit Losing Teams, League Exec Defends Format
    An NBA executive told FOS all stakeholders agreed on the format.
    by

    Army-Navy Is Always Big. This Year’s Game Holds Special Significance
    This year’s edition of America’s Game carries extra luster for several reasons.

    Featured Today

    Nov 2, 2024; Denver, Colorado, USA; Detailed view of a Wilson NBA basketball held by a referee during the second half between the Utah Jazz against the Denver Nuggets at Ball Arena
    by

    ‘Obvious Weak Point’: Refs Remain an NBA Gambling Concern
    A season after Jontay Porter, the biggest risk may not be players.
    Nov 2, 2024; Ann Arbor, Michigan, USA; Michigan Wolverines cheerleader runs with a flag before the game against the Oregon Ducks at Michigan Stadium.
    opinion
    December 7, 2024

    College Football’s Billionaire Backer Era Begins
    Is this the new normal in CFB recruiting?
    LA Galaxy forward Dejan Joveljic (9) celebrates with midfielder Riqui Puig (10) after scoring a goal against Seattle Sounders FC in the second half in the 2024 MLS Cup Western Conference Final match at Dignity Health Sports Park
    December 6, 2024

    With or Without Messi, Major League Soccer Is Barreling Into the Future
    After the Cup final, the league looks to accelerate its growth.
    Dec 18, 2022; Lusail, Qatar; FIFA president Gianni Infantino claps during the awards ceremony after the 2022 World Cup final between Argentina and France at Lusail Stadium.
    December 2, 2024

    FIFA Wants More Matches. Resistance Is Growing Inside the Global Soccer World
    Resentment and frustration over expanded schedules is nearing a breaking point.

    More in Media
    Dec 12, 2024; Chapel Hill, NC, USA; North Carolina Tar Heels new head coach Bill Belichick speaks to those attending his hiring announcement at Loudermilk Center for Excellence.
    by

    UNC Job Brings an End to Belichick’s Short-Lived Media Career
    Bill Belichick had six media jobs this football season.
    Nov 4, 2024; Kansas City, Missouri, USA; Broadcaster Scott Van Pelt prior to a game between the Tampa Bay Buccaneers and the Kansas City Chiefs at GEHA Field at Arrowhead Stadium.
    December 12, 2024

    Scott Van Pelt Headlines ESPN’s Talent Lineup for Tiger’s New Golf League
    TGL launches in January with backing from Tiger Woods and Rory McIlroy.
    December 12, 2024

    YouTube TV Jacks Up Prices Again Before NFL Playoffs
    The Google product has more than doubled in price over seven years.
    Sponsored

    How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture
    As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
    December 11, 2024

    NFL Scheduling Gambit Pays Off With Two Blockbuster Sunday Games
    The Week 15 schedule has a game pairing seen only once since 1970.
    December 11, 2024

    Pat McAfee’s Kicking Contest Saw $650,000 Awarded—and $5 Million Missed
    The weekly contest on ESPN’s “College GameDay” paid out $650,000.
    December 11, 2024

    F1’s TV Ratings Similar to 2023, but Still Below the Record Highs..
    The F1 season averaged 1.1 million viewers in the U.S.
    December 11, 2024

    WBD Secures Comcast Deal, Readies for Future Without NBA Rights
    The TNT Sports parent company continues to remake itself in dramatic fashion.