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Penn National Gaming completes acquisition of stake in Barstool Sports

21st February 2020 9:51 am GMT

US racing and gaming operator Penn National Gaming has completed the acquisition of its 36 per cent stake in New York-based sports and pop culture blog Barstool Sports for $163m.

The investment comprises approximately $135m in cash and $28m in shares of non-voting convertible preferred stock.

The acquisition sees Penn National Gaming become Barstool Sports’ exclusive gaming partner for up to 40 years, including the sole right to utilize the Barstool Sports brand for online and retail sports betting, as [...]

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