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PENN Entertainment Completes Acquisition of Barstool Sports
PENN Entertainment, Inc. (Nasdaq: PENN) (“PENN” or the “Company”) today completed its previously announced acquisition of Barstool Sports, Inc. (“Barstool Sports” or “Barstool”) after previously acquiring a 36% stake of Barstool Sports in February 2020. PENN has acquired the remaining interest in Barstool Sports for approximately $388 million.
The closing of the acquisition marks a major milestone for Barstool Sports as it celebrates its 20th anniversary. Founded in 2003 as a free sports and gambling newspaper by Dave Portnoy, Barstool has evolved into a leading digital player in sports, lifestyle, and entertainment. With over 200 million loyal followers, the company creates and delivers unmatched sports and comedic content through its extensive network of over 100 shows and 90+ personalities. Its content offerings span podcasts, video, social media, live events, pay-per-view, and a growing commerce business, solidifying its position as a multimedia powerhouse.
Since partnering with Barstool Sports in 2020, PENN has successfully developed an omnichannel strategy that leverages Barstool’s well-known brand and personalities. Barstool Sportsbook has grown to become a leading online betting platform currently live in 15 states, with PENN also having launched retail branded Barstool Sportsbooks at its properties across the country. PENN and Barstool Sports will continue to innovate and collaborate, including across Barstool’s sports bar footprint, to deliver compelling integrated gaming and entertainment experiences.
“We are extremely pleased to welcome Barstool Sports fully into the PENN Entertainment family,” said PENN Entertainment CEO and President, Jay Snowden. “Barstool is a proven, powerful media brand with an authentic voice and vast, loyal audience that provides us with a strong top of funnel for new customer acquisition and organic cross-selling opportunities across our growing interactive division. Barstool, combined with theScore’s reach and highly engaged user base, creates a massive digital footprint and ecosystem that will serve to propel Barstool Sportsbook and our uniquely integrated media and gaming business. Further, the Barstool Sportsbook will greatly benefit from the upcoming migration to our proprietary technology stack, a move that will significantly enhance the overall product offering and deliver meaningful upside.”
“Barstool Sports is bigger than ever and has become more than I ever dreamed of,” said Dave Portnoy, Founder of Barstool Sports. “I’m very thankful to the Barstool team and Stoolies who have been along for the ride. I’m looking forward to this next chapter with PENN.”
“This is a huge moment for Barstool Sports that was made possible by a lot of people and a lot of grit,” said Erika Ayers, CEO of Barstool Sports. “Our focus has always been to create relevant and entertaining content for our fans and to deliver strong results for our partners. It’s exciting to have that vision recognized and to be able to put it to work inside of PENN. We have the best fan base on the planet, and we look forward to doing even more for them with PENN’s support.”
In the past three years since PENN first invested in the company, Barstool Sports has:
- Grown its audience 194% and recorded total podcast downloads of 1.6B.
- Delivered over 875K videos across social media totaling over 128 billion video views.
- Increased ad sales by 160%.
- Sold over 5 million units, including apparel, licensed products and accessories, by combining a direct-to-consumer approach and bringing the brand to thousands of retail stores nationwide.
- Expanded its live event programming, including producing and broadcasting its first Division I college basketball games (Barstool Sports Invitational) and the Barstool Arizona Bowl college football game.
- Launched TwoYay, its proprietary NIL marketplace, connecting athletes to brands and agencies.
PENN and Barstool Sports initially announced an exclusive sports betting and iCasino partnership in January 2020, with PENN acquiring 36% of Barstool Sports on February 20, 2020 for a total consideration of approximately $163 million, comprised of approximately $135 million in cash and $28 million in non-voting convertible preferred stock. The initial agreement included a path for PENN to establish full control and ownership of Barstool Sports.
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SCCG Management Announces Strategic Partnership with JackTop
SCCG Management, a global leader in advisory and business development services for the gaming industry, has announced a strategic partnership with JackTop to support the global distribution and business development of the JackTop Live Dealer Casino Solution. This collaboration will leverage SCCG’s extensive network, expertise, and global reach to position JackTop as a leading live dealer casino solutions provider, catering to a wide range of online gaming platforms—from social casinos to Class III mobile on-premise operations and beyond.
JackTop offers a cutting-edge live dealer casino experience, broadcasting traditional casino games 24/7 in full HD. With operations spanning over 70 countries and a growing network of 100+ partners, JackTop combines American broadcasting technology, seamless multi-platform integration, and customizable environments to deliver an unmatched player experience.
The partnership will see SCCG Management driving global sales, fostering strategic partnerships, and expanding JackTop’s presence in key gaming markets worldwide. SCCG’s proven track record in accelerating business growth and facilitating entry into emerging markets ensures that JackTop’s innovative solutions reach operators who are seeking high-quality, customizable live dealer gaming experiences.
“At SCCG Management, we are always on the lookout for game-changing solutions that redefine player engagement and operator success. JackTop’s live dealer casino solution stands out with its commitment to quality, flexibility, and seamless integration across multiple platforms. We are excited to partner with JackTop to drive global adoption and bring its immersive gaming experience to operators and players worldwide,” said Stephen Crystal, Founder and CEO of SCCG Management.
JackTop’s live casino offerings include fully customizable environments, unique game development capabilities, and seamless integration into both online and land-based gaming operations. With features like real-time live chat, multi-game views, and full HD broadcasting, JackTop creates an authentic casino atmosphere for players, no matter where they are.
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GAN Selects Internet Vikings’ Hosting Solutions in Arkansas
Internet Vikings, a licensed in-state hosting provider for iGaming and online sports betting, announces the extension of its relationship with GAN Sports®, a supplier of industry-leading casino content, into Arkansas.
Following a successful multi-state collaboration initiated in 2022, Internet Vikings continues to support GAN by delivering hosting services tailored to their operational needs. Internet Vikings is continuing to grow across the United States, as Arkansas becomes the latest state to benefit from their hosting services.
GAN, a B2B supplier of internet gambling software-as-a-service solutions, initially entered into an agreement with Internet Vikings in a landmark deal covering 15 states. Since then, the relationship has grown stronger, with GAN relying on Internet Vikings’ bare metal server solutions to support their large-scale U.S. operations.
This expansion into Arkansas follows a recent deployment in Nevada, where Internet Vikings also provides hosting solutions to GAN. As GAN continues to operate across regulated U.S. markets, Internet Vikings remains a dependable resource, and has demonstrated its reliability to support long-term growth.
Rickard Vikström, CEO and Founder of Internet Vikings, shared his thoughts, “Our relationship with GAN reflects the trust we’ve built over the years. It’s not just about providing hosting solutions; it’s about understanding their vision and exceeding their expectations.”
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LiveRamp and Mohegan Launch Industry’s First Casino Media Network
LiveRamp announced it is powering the industry’s first casino media network for Mohegan, a global leader in casino and entertainment destinations. For the first time, brands can access Mohegan’s rich first-party insights to reach guests and players in addition to the ability to measure campaigns across the casino’s digital channels and on-premise experiences, including in-app, loyalty programs, slot machines, kiosks, and more.
Ad spending on travel-focused commerce media is forecasted to reach $2.96 billion next year as hospitality, gaming, and entertainment companies unlock their unique behavioral insights for advertiser partners. Mohegan alone captures 200 million impressions per month across its casinos and digital estate, including exclusive insights on visitors’ entertainment, dining, and vacation preferences. This unique set of data allows advertisers to immediately discover and activate highly engaged audiences while deepening customer understanding in ways previously not possible.
“By launching the industry’s first casino media network, Mohegan is setting a new standard for highly relevant guest experiences that connect consumers with their favorite brands. With the largest and most powerful data collaboration network, LiveRamp was the clear choice to power seamless connectivity and measurement, help us deepen our premier partnerships, and protect customers’ data,” said Rich Roberts, President of Mohegan Digital.
LiveRamp’s data collaboration technology allows Mohegan to unify its data across sources and deliver an accurate, connected customer view to advertisers across its online and offline channels, maximizing the value of every customer interaction. LiveRamp also supports closed-loop measurement of media network campaigns, which brings the customer journey to life, giving advertisers deeper understanding of customer actions from ad exposure, to on-property visits or online interactions to ensure advertiser ROI.
Vihan Sharma, LiveRamp’s Chief Revenue Officer, said: “Mohegan is reimagining the gaming and entertainment industry by leveraging its unique first-party data as the powerful asset it is, forging new paths of innovation that unlock new revenue streams and transform customer experiences. LiveRamp is proud to lead the way in powering media networks across diverse industries and eager to connect advertisers to more high-value audiences as we grow our collaborative ecosystem. That’s why we’re thrilled to partner with a leading-edge brand such as Mohegan to pioneer new applications of data collaboration.”
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