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The popular and often controversial sports & pop culture blog is reportedly in advanced negotiations with Penn National, the latest in a series of content provider gambling venture partnerships.
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From Recode:
Sources say The Chernin Group, which currently owns Barstool, is in advanced talks to sell a majority stake in the company to Penn National Gaming, a publicly traded, regional gambling company that operates 41 properties in 19 states.
Barstool was last valued at more than $100 million, but a potential purchase price could be much higher, and might create the biggest media-gambling tie-up in the US since the Supreme Court legalized sports betting in 2018.
A representative for Barstool Sports replied with the following, attributed to Barstool founder Dave Portnoy: “We continue to speak or have spoken with everybody from DraftKings to FanDuel to Stars to PointsBet to Penn to Willam Hill to MGM to Rush Street, etc. I think that if we aligned ourselves with one company with a shared vision, that company would have an extraordinary advantage in the race to becoming the leading gambling company in the United States.”
- Aaron Goldstein, Gambling911.com
