Clicky

Penn National in Advanced Talks to Acquire Barstool Sports - PennsylvaniaCasinos.com News : PennsylvaniaCasinos.com News
penn_national_gaming_barstool-sports
Published on
Update on

Over the past year or so, there have been several instances where gambling companies have joined forces with sports media companies. The goal of these partnerships has been to ensure that the stakeholders are able to grow their presence in the country’s sports betting market. These partnerships majorly foster the growth and retention of audiences across the country. So far, this move has worked for a number of gaming and media companies.

Now, more organizations are looking into emulating this business model. The latest one is Penn National Gaming which is reportedly in advanced talks to acquire a majority stake in sports media company Barstool Sports from The Chernin Group (TCG).

Barstool’s Sports Betting Ambitions

Even prior to the rumors of a possible acquisition by Penn National, Barstool Sports had already started pursuing sports betting. It has previously purchased a gambling-focused show. In addition to that, it has recently launched an online gaming site as well as a mobile betting app known as Barstool Bets. The app and the site offer players a ton of sports betting content as well as free games where they to wager and stand a chance of winning huge prizes.

To top it all off, Barstool Sports took everything a notch higher when it hired David VanEgmond to head its strategy and corporate development department – David VanEgmond is a former executive at renowned sports betting operator FanDuel. All these moves were mostly driven by the fact that up to 60 percent of the media company’s audience bet on sports.

How Penn National Can Help

Putting all of Barstool Sports’ ambitions into consideration, Penn National which already operates in 19 states is going to be a great partner for the media company. If everything goes as planned, Barstool Sports will receive a tremendous boost from Penn National in as far as growing its customer base is concerned. Furthermore, there is huge potential in the space which means both companies can use it to fuel other revenue streams through such things as exclusive content.

“I think that if we aligned ourselves with one company with a shared vision, that company would have an extraordinary advantage in the race to becoming the leading gambling company in the United States,” Barstool founder Dave Portnoy commented on the company’s plans.

According to the Barstool Sports founder, the company has been in talks with several companies including Penn Nation, of course. Other notable brands he mentioned include William Hill, PointsBet, Rush Street, The Stars Group and FanDuel. However, with so many signs pointing to Penn National, it is likely that an official announcement of the acquisition will be made very soon.

Latest Headlines

Multi-State Internet Gaming Finally Launching in Pennsylvania

Pennsylvania has officially joined the Multi-State Internet Gaming Agreement (MSIGA), following in the footsteps of New Jersey, Nevada, and Michigan. Online poker operators in the state may now begin connecting their systems with those in other MSIGA member states, thanks to Governor Josh Shapiro’s signature. According to the governor, all Pennsylvanians will reap the benefits […]

SC Gaming OpCo Battles to Bring State College Casino to Life

A new casino is on the way to State College, thanks to SC Gaming OpCo, which may be betting on Pennsylvania’s booming gaming industry. Ira Lubert, a real estate entrepreneur, is spearheading a $120 million initiative that hopes to turn the old Macy’s department store at the Nittany Mall into a thriving gaming center. The […]

A Look at the Hollywood Casino App: Is It Worth the Hype?

It has been just about two months since PENN Entertainment introduced its stand-alone Hollywood Casino app to players in Pennsylvania, and the buzz around its launch has yet to settle. Built on PENN’s proprietary technology, this app aims to bring a seamless, casino-first experience to the state’s growing iGaming audience. But how well has it […]

Pennsylvania iGaming Growth Outpaces Sports Betting in First 2025 Revenue Report

After a great 2024, Pennsylvania’s gaming industry has had a strong start in 2025, with total gaming revenue reaching $529.1 million in January, marking a 10.9% year-over-year increase. However, the month’s performance was a tale of two markets whose performance will certainly have a bearing on the future. While iGaming continued its rapid growth, sports […]

Pennsylvania iGaming’s Record-Breaking Growth in 2024: A Blueprint for 2025?

Pennsylvania’s online casino market ended 2024 on a high note, setting benchmarks that could shape the future of iGaming across the U.S. With all the competitive platforms now available to players in 2025, the Keystone State has become a hub of innovation, competition, and revenue generation. The past year’s success not only showcases the state’s […]

Similar Stories in Gambling

Pennsylvania iGaming Growth Outpaces Sports Betting in First 2025 Revenue Report

After a great 2024, Pennsylvania’s gaming industry has had a strong start in 2025, with total gaming revenue reaching $529.1 million in January, marking a 10.9% year-over-year increase. However, the month’s performance was a tale of two markets whose performance will certainly have a bearing on the future. While iGaming continued its rapid growth, sports […]

Record-Setting November for Pennsylvania’s Gaming Sector

Pennsylvania’s gaming sector recorded a historic revenue milestone in November 2024, with total earnings reaching $562.4 million, a 26.06% increase compared to the same period last year. The state’s gaming industry continues to cement its position as a leader in the U.S. market, with robust contributions from iGaming and sports betting driving the growth. Online […]

Going into a New Year with PENN Entertainment’s Hollywood Casino App

The online gaming scene in Pennsylvania just got a major upgrade. PENN Entertainment, Inc. has officially launched its standalone Hollywood Casino app, offering the state’s players a dedicated, casino-focused platform. The Hollywood Casino app, now available on Android, iOS, and desktop, provides users in Pennsylvania with a streamlined, casino-centric platform. Built on PENN’s proprietary technology, […]

PokerStars Boosts Pennsylvania Presence Through Partnership with Philadelphia Flyers

In a bold move, PokerStars has inked a sponsorship deal with the Philadelphia Flyers, marking the first time an online poker brand has collaborated with the iconic NHL team. This partnership brings many benefits for Flyers fans and PokerStars players alike while solidifying the brand’s visibility in Pennsylvania’s competitive gaming market. Exclusive Fan Rewards and […]