Pursuant to the transaction terms, Penn National is now Barstool Sports’ exclusive gaming partner and has the sole right to utilize the Barstool Sports brand for all of its online and retail sports betting and iCasino products. (“Barstool Sports”) for total consideration of approximately $163 million, comprised of approximately $135 million in cash and $28 million in non-voting convertible preferred stock.
(PENN: Nasdaq) (“Penn National” or the “Company”) today completed its previously announced acquisition of a 36% interest in Barstool Sports, Inc.
