PENN Entertainment Completes Barstool Sports Acquisition

PENN Entertainment Completes Barstool Sports Acquisition PENN Entertainment Completes Barstool Sports Acquisition

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PENN Entertainment has completed its takeover of Barstool Sports after paying $388 million for the remaining 64% stake in its coveted sportsbook brand which it did not already own.
The completion of the takeover represents a milestone for PENN, which is still seeking to carve out a significant market share in the highly competitive U.S. legal sports betting market.
This brings to a close the deal that was first set in motion on January 2020 when U.S. casino and entertainment giant PENN Entertainment — then known as Penn National Gaming — announced that it had paid $163 million for a...
Source: https://www.covers.com/industry/penn-entertainment-completes-purchase-of-barstool-sports-february-20-2023