Peter Kafka

@pkafka ↗

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Last Checked Sept. 23, 2020

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Wed Jan 29 06:40:33 +0000 2020

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Peter Kafka @pkafka

Details: Penn National Gaming buys a chunk of Barstool, currently owned by the Chernin Group, today, and bumps its stake up to 50% in three years, paying $225 million total. It can then buy majority control at TBD price. Barstool, founded in 2003, did $90/$100 million in 2019. — PolitiTweet.org

Posted Jan. 29, 2020 Hibernated

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Peter Kafka @pkafka

A stunning price. Thank the Supreme Court. — PolitiTweet.org

A casino company is buying Barstool Sports in a $450 million deal https://t.co/FWJtM9h6oP

Posted Jan. 29, 2020 Hibernated

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Peter Kafka @pkafka

The deal exists because of the 2018 Supreme Court decision legalizing online sports betting; Penn National hopes use Barstool brand to push into the market, currently dominated by FanDuel and Draft Kings instead of traditional casino companies. — PolitiTweet.org

Posted Jan. 29, 2020 Hibernated