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Sports
August 11, 2023
Portnoy Repurchases Barstool for $1 After Penn Entertainment’s ESPN Deal
Dave Portnoy, the controversial founder of Barstool Sports, has repurchased the media brand from Penn Entertainment for a mere dollar, according to a regulatory filing published on August 16. Penn Entertainment Faces $850M Loss from Barstool Buyback Penn Entertainment initially acquired a 36% stake in Barstool for $163 million in 2019, with a subsequent investment […]
Business
August 10, 2023
Penn Entertainment Sees Q2 Revenue Surge Amid Transformative ESPN Agreement
The entertainment giant reported revenues of $1.67 billion for the quarter, with a net income of $78.1 million, marking a substantial improvement from the $26.1 million recorded during the same period in the prior year. PENN Entertainment’s Q2 Earnings Call Centers on ESPN Partnership and Barstool Divestiture Despite these promising figures, the company’s Q2 earnings […]
Business
August 9, 2023
Barstool Sports Back to the Pirate Ship after Penn Sells It Back to David Portnoy
Dave Portnoy, the founder of the sports media giant Barstool Sports, has purchased the company back from Penn. In “ probably the biggest emergency press conference” he’s ever held on Twitter/X, Portnoy explained the deal and how it came to this. Portnoy confirmed that, for the first time in a decade, he is back in […]
Sports
August 9, 2023
ESPN and Penn Entertainment Team Up and Reveal Upcoming ESPN BET Launch
ESPN and Penn Entertainment are set to shake up the sports betting landscape with their groundbreaking partnership, giving birth to the ESPN BET sportsbook. Penn Entertainment’s Rebranding Paves the Way for ESPN BET Launch Under the terms of the agreement, Penn Entertainment will undergo a rebranding effort, transforming its existing Barstool Sportsbook into ESPN BET. […]
Industry
July 19, 2023
BetMakers Adds Penn National Racing Content to NJ Fixed Odds Platform
BetMakers Technology Group, a provider of betting tech, has added racing content from Hollywood Casino at Penn National Race Course to the fixed odds horseracing platform MonmouthBets in New Jersey. The agreement between BetMakers’ Global Racing Network and Penn Entertainment allows for easy delivery of content for fixed odds betting from Hollywood Casino at Penn […]
Casino
July 17, 2023
Barstool Successfully Migrates to PENN’s Proprietary Gaming Platform
Gaming and entertainment giant PENN Entertainment achieved a significant milestone by successfully migrating its Barstool Sportsbook & Casino brand to its proprietary online gaming platform. This strategic undertaking marks a vital step in PENN’s digital expansion ambitions, allowing Barstool to better compete with other leading operators. The Move Went without a Hitch Barstool announced the […]
Industry
May 5, 2023
Penn Sacks Employee Over Racial Slur, Meets Portnoy’s Wrath
The US gambling sector is closely monitored and guarded. Each state that offers legal sports wagering or iGaming has its established regulator that ensures operators follow the guidelines, while authorities in states that do not offer such services can hunt down and prosecute illegal gambling activities. Given the strict rules, many gambling companies fear how […]
Business
May 4, 2023
PENN Entertainment Posts Decent Q1 Results despite Economic Challenges
PENN Entertainment has posted a report on its financial performance in the first quarter of the year, highlighting a modest revenue increase and a substantial net income rise. As reported by the company, its revenues for the period increased by 7% year-on-year to $1.67 billion in Q1, 2023. In addition to that, the company reported […]
Business
April 24, 2023
PENN Entertainment Replaces Mychoice with PENN Play
PENN Entertainment, an American entertainment company, has launched a new loyalty program, allowing its customers to win a variety of prizes. The so-called PENN Play program will replace PENN Entertainment’s mychoice program. As announced by the operator, PENN Play will expand the ways its 26 million loyalty members can earn and redeem rewards across its […]
Casino
April 17, 2023
PENN Entertainment Provides Military Scholarship Program
Provider of integrated entertainment, sports content and casino gaming, PENN Entertainment, announced the creation of a military scholarship as part of its ongoing commitment to supporting veterans and military students on active duties. Support for Military Students The creation of PENN Entertainment Military Scholarship at Penn State Berks in Berks County where PENN Entertainment is […]
