Skip to Content

Barstool Sports is acquired by Penn Entertainment

KIFI

Penn Entertainment Inc. has closed on its acquisition of Barstool Sports. Penn paid about $388 million for the remaining stake in Barstool that it doesn’t already own. Penn and Barstool Sports initially announced an exclusive sports betting and iCasino partnership in January 2020. Penn took a 36% stake of Barstool Sports in February 2020 for approximately $163 million, comprised of about $135 million in cash and $28 million in non-voting convertible preferred stock. The initial deal included a path for Penn to gain full control and ownership of Barstool Sports.

Article Topic Follows: AP National

Jump to comments ↓

Author Profile Photo

Associated Press

BE PART OF THE CONVERSATION

KIFI Local News 8 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content