Penn National Gaming (PENN) Divests Barstool Sports to Founder David Portnoy
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PENN surges on sports betting deal with ESPN, divests Barstool Sports to founder Dave Portnoy
August 8, 2023 5:03 PM EDTShares of PENN Entertainment (NASDAQ: PENN) soared 19% after-hours Tuesday after the company announced it entered into an exclusive U.S. online sports betting agreement with Disney's (NYSE: DIS) ESPN. At the same time, the company announced it has sold 100% of Barstool Sports back to founder David Portnoy.
The news sent shares of online sports betting leader DraftKings (NASDAQ: DKNG) down 9% after-hours.
Under the agreement, PENN has secured the exclusive right to the ESPN Bet trademark for... More
DraftKings (DKNG) Declines After Rival Penn (PENN) Enters Pact with ESPN
August 8, 2023 4:36 PM EDTDraftKings (NASDAQ: DKNG) Declines After Rival Penn (NASDAQ: PENN) Enters Pact with ESPN
Shares Down 8%... More
PENN Entertainment (PENN) and ESPN Enter into Long-Term Exclusive Strategic Alliance for U.S. Online Sports Betting
August 8, 2023 4:20 PM EDTPENN Entertainment, Inc. (PENN or the Company) (Nasdaq: PENN) today announced that it has entered into a transformative, exclusive U.S. online sports betting (OSB) agreement with ESPN, Inc. and ESPN Enterprises, Inc (together, ESPN). PENN will discuss the ESPN transaction as well as its second quarter 2023 results on its previously scheduled conference call and webcast tomorrow morning at 9:00 a.m. ET. For further information, the Company has posted a presentation to its website regarding the transaction, which can be found... More
