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Who owns Barstool Sports?
Dave Portnoy has once again become the owner of Barstool Sports, the sports blog he founded in 2003. Penn Entertainment, a casino-and-sports-gaming company, finalized its acquisition of Barstool earlier this year in a $551 million deal after acquiring a minority stake in the sports blog in 2020 for $163 million.Did Penn buy Barstool?
Penn initially took a 36% stake in Barstool for $163 million back in 2019. Earlier this year, the company spent another $388 million to buy the remaining interest in Barstool. Penn said in a filing on Wednesday it expects to lose up to $850 million on the investment.What happened between Penn Entertainment & Barstool Sports?
Penn Entertainment, a casino-and-sports-gaming company, finalized its acquisition of Barstool earlier this year in a $551 million deal after acquiring a minority stake in the sports blog in 2020 for $163 million. "Penn Entertainment and Barstool Sports have gone our separate ways," Portnoy said in a video posted to X, formerly Twitter, on Tuesday.