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Tuesday, July 16, 2024

Pull Up A Stool

Barstool Sportsbook
Barstool Sports
The launch of the Barstool Sportsbook app in Pennsylvania on Friday pushed Penn National Gaming’s stock up last week. It’s the first state launch for the app, a play by the casino company — which owns 36% of Barstool — to secure the loyalty of a dedicated media fanbase.

The app was the No. 1 downloaded sports app in the Apple Store by Friday evening. It’s the second time in six weeks that Barstool had an app hit No. 1, following the launch of the PlayBarstool, a free-to-play betting app for users to win cash prizes.

Penn National’s stock was up 17.24% for the week and 170.08% year-to-date. The share price fell 3.28% Friday, as much of the rest of the stock market did — Nasdaq Composite fell 1.07%.

Notable Earnings Report This Week:

9/22 — Nike

9/24 — Vail Resorts

This article is sponsored by Public.com. This is not investment advice. See Public.com/disclosures.

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