“We look forward to being owner of Barstool 100 percent. “We couldn’t be more excited about moving our ownership position up from the current 36 percent,” Snowden told investment analysts on a conference call. Without getting into details of the accusations, Penn National CEO Jay Snowden confirmed full support for the partnership with both Portnoy and Barstool, saying the sports media company is unusually profitable in its field and grew its social media reach 25% last year. Portnoy quickly denied the allegations in a video blog and accused Business Insider of a hit job against him, while promising a lawsuit. NEW from and me (TW: sexual violence): Insider has now spoken with a total of seven women who described disturbing sexual experiences with Barstool Sports founder Dave Portnoy, ranging from sexual violence to filming without consent. Business Insider last November reported women’s accusations against him of rough sexual treatment, and a followup report Wednesday contained allegations by anonymous women saying he without consent filmed their sexual activities with him. The company avoids huge marketing costs of competitors by using Portnoy and his Barstool Sports associates to heavily promote the sportsbook to millions of social media followers.Īs might have been expected from the controversial, irreverent nature with which Portnoy built Barstool’s success, allegations against him have arisen in his time as a Penn National partner and sportsbook marketer.

Penn National uses the Barstool name as the brand of its digital sportsbook, which launched in Pennsylvania in September 2020 and now operates in 12 states.

Penn National also received the right to acquire full ownership afterward of the Boston-based sports media company then valued at $450 million. Penn National acquired a 36% share of Barstool Sports for $163 million in January 2020 in a deal calling for additional investment of $62 million within three years to attain 50% ownership. Unfazed by the latest sexual misconduct allegations against Barstool Sports founder Dave Portnoy, the head of Penn National Gaming affirmed in a quarterly investment call Thursday morning that the gaming company will proceed toward full ownership of Barstool.

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