sport news Remaining Barstool shares go for $325m to gaming company trends now
Remaining Barstool shares go for $325m to gaming company that first bought 36 percent of the sports media giant for $161m in 2020 and built casino sportsbooks using its branding
Barstool Sports will be under new ownership when a deal is finalized in February Penn Entertainment, a gaming company, acquired Barstool's remaining shares The company bought Barstool's remaining shares at a valuation of $650 million According to one expert: 'Spotify would pay $1.5 billion for Barstool in a minute' By Alex Raskin Sports News Editor For Dailymail.com
Published: 15:04 BST, 18 August 2022 | Updated: 15:07 BST, 18 August 2022
Barstool Sports will be under new ownership by February of next year.
Casino operator Penn Entertainment Inc. has exercised its right to buy the remaining shares of the controversial sports media giant for a total of $325 million, according to Wednesday's SEC filing reviewed by DailyMail.com. Penn (formerly: Penn National Gaming) initially bought 36 percent of Barstool at a cost of $161.2 million in 2020.
Barstool had already made the jump from sports media to gaming with the help of Penn, which has already launched sports books under the website's brand.
Barstool was acquired at a valuation of $650 million, which some saw as a bargain.
'I bet Spotify would pay $1.5 billion for Barstool in a minute,' tweeted
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