The sale is expected to be completed by February 2023, Fox Business reported.Īfter Penn purchased its initial stake in the company, Barstool debuted the Barstool Sportsbook app, which allows online sports betting in 12 states, including Pennsylvania and New Jersey. The rollout included a soft launch in Pennsylvania, prompting Barstool founder Dave Portnoy to move to Philadelphia. To complete the transaction, the Berks County-based casino and race track operator must pay $62 million to increase its stake to 50% and then another $325 million for the rest of the shares.
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