What Happens To Barstool Sportsbook After Penn Divorce?
One deal, everybody knows the rules. Dave Portnoy can do and say pretty much whatever he wants again now. Barstool Sports is his again after the Penn divorce. Penn will instead launch Bet ESPN, which is dropping this Fall. Portnoy gets his company back, but what happens to Barstool Sportsbook?
More details have since trickled in. Portnoy might be getting his company back for free. However, there are some consequences Barstool will face in the aftermath of the deal.
Barstool Sportsbook is officially dead. They can’t launch a sportsbook. They can’t advertise any sportsbooks. That’s going to hurt in terms of ad dollars. Barstool obviously earned a good amount of money from the sportsbook. It’s going to be harder in terms of generating revenue without it. With that said, the content alone makes a good chunk of change. There is a reason why Portnoy was able to sell it for $500+ million the first time around.
In reality, Penn essentially gave him $500+ million plus a lot of stock to not launch a sportsbook. I think that’s a deal that he’s perfectly okay within the grand scheme of things. Hey, getting that type of cash just to not be bothered in the gambling industry isn’t a bad deal at all.
Barstool has also announced what they will be doing now that they don’t have to cater to Penn. Barstool Radio is officially back for good. The show will consist of KFC, Feitelberg, and Tommy Smokes. Ben Mintz is also back with the company.
