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Aug. 17, 2022, 5:57 p.m. EDT

PENN Entertainment buying the remaining stake of Barstool Sports

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By Claudia Assis

PENN

PENN Entertainment Inc. /zigman2/quotes/209264611/composite PENN +0.77% said in a filing late Wednesday it is buying the remaining shares it doesn't yet own of media company Barstool Sports Inc., founded by David Portnoy. The Pennsylvania-based casino and racetrack operator has exercised call rights to bring its ownership of Barstool to 100%, PENN said in the filing . The acquisition of the remaining Barstool shares is expected to be completed by February, subject to certain conditions, after which Barstool will be a wholly owned subsidiary of PENN, the filing said. Shares of PENN National fell 0.8% in the extended session after ending the regular trading day down 3.2%.

/zigman2/quotes/209264611/composite
US : U.S.: Nasdaq
$ 27.51
+0.21 +0.77%
Volume: 3.32M
Sept. 30, 2022 4:00p
P/E Ratio
23.19
Dividend Yield
N/A
Market Cap
$4.36 billion
Rev. per Employee
$285,596
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