![]() Penn is coming off a record quarter where it generated $1.6 billion. ![]() ![]() Penn first purchased a 36% stake in Barstool in February 2020 and announced in another SEC filing that it had purchased another 14% for $62 million.Īs part of the original deal, Penn had the option to acquire the entire company founded by Dave Portnoy in 2003. Penn will pay $325 million for the half of Barstool it didn’t already own. The company formerly known as Penn National Gaming will have paid $550 million over a three-year period to acquire all of Barstool’s outstanding shares, a process expected to conclude in February. ![]() Penn Entertainment has exercised its rights to purchase the chunk of Barstool Sports that it didn’t already own, according to an SEC filing on Wednesday. ![]()
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