Penn National Gaming has agreed to buy a stake in Barstool Sports Inc. for $163 million, a deal that positions the casino operator to compete in the growing U.S. sports-betting market
Penn National Gaming Inc. has agreed to buy a stake in Barstool Sports Inc. for $163 million, a deal that positions the casino operator to compete in the growing U.S. sports-betting market.
Penn National plans to take a 36% stake in closely held Barstool Sports, which produces blogs, podcasts, social media and live events, the companies said Wednesday. The deal would give Penn National exclusive rights to use the Barstool brand in its sports-betting products. Penn National is to pay $135 million in cash and $28 million in...
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