Penn National targets younger betting audience with Barstool Sports acquisition

Operator purchases a 36% stake in the online sports media outlet for $163m

Penn National Gaming has acquired a 36% stake of digital sports media outlet Barstool Sports for $163m in a deal that will see the operator use Barstool Sports branding across its online products in a bid to appeal to younger bettors. As part of the deal, Penn will acquire $28m in shares of non-voting convertible…

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