Penn National Gaming (PENN) Divests Barstool Sports to Founder David Portnoy

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Go back to Penn National Gaming (PENN) Divests Barstool Sports to Founder David Portnoy

PENN surges on sports betting deal with ESPN, divests Barstool Sports to founder Dave Portnoy

August 8, 2023 5:03 PM EDT

Shares 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 EDT

DraftKings (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 EDT

PENN 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