PENN Entertainment Bolsters Portfolio By Taking Full Control Of Barstool Sports

PENN Entertainment Inc PENN has completed its previously announced acquisition of Barstool Sports Inc.
The company had previously acquired a 36% stake in Barstool Sports in February 2020, with a path to establish full control and ownership.
PENN has acquired the remaining interest in Barstool Sports for approximately $388 million.
Founded in 2003 as a free sports and gambling newspaper by Dave Portnoy, Barstool has evolved into a digital player in sports, lifestyle, and entertainment.
Barstool creates and delivers sports and comedic content through its extensive network of over 100 shows and 90+ personalities.
PENN and Barstool Sports will continue to innovate and collaborate, including across Barstool's sports bar footprint, to deliver integrated gaming and entertainment experiences.
Also Read: PENN Entertainment Clocks 0.8% Top-Line Growth In Q4 Hit By Severe Weather In December
Price Action: PENN shares are trading lower by 0.99% at $31.85 on the last check Friday.
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