On Friday, Feb 17, Penn Entertainment completed the acquisition of Barstool Sports in a deal worth $551 million. The Pennsylvania-based gaming company paid $163 million to acquire 36% of Barstool Sportsbook in 2020. Penn just purchased 64% of the company for $388 million to own 100% of Barstool Sportsbook on its own.
CEO and President of Penn Entertainment Jay Snowden commented:
"We are extremely pleased to welcome Barstool Sports fully into the PENN Entertainment family. Barstool is a proven, powerful media brand with an authentic voice and vast, loyal audience that provides us with a strong top of funnel for new customer acquisition and organic cross-selling opportunities across our growing interactive division."
Doc's Sports Service has the full details in the blog post Penn Entertainment Buys the Remaining Share of Barstool Sportsbook.
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