![]() In January 2021, the company announced that the Sportsbook would be expanding to the state of Michigan. During its first week of operation, it handled $11 million in wagers. The company launched Barstool Sportsbook, a mobile application for sports betting, in Pennsylvania on September 18, 2020. Following the sale, The Chernin Group maintained a 36% stake in the company. At that time, Penn National and Barstool had options that would increase the casino company's stake to control or full ownership, based on fair market value at the time. In three years, Penn National, with a market value of roughly $3 billion, would increase its stake to around 50% for a payment of $62 million. ![]() On January 29, 2020, it was announced that Penn National Gaming (now Penn Entertainment) purchased a 36% stake in Barstool Sports for $163 million, giving the company a valuation of $450 million. On March 28, 2018, NBA player Frank Kaminsky launched a Barstool podcast, Pros and Joes, hosted by himself and three of his high-school friends. On February 18, Michael Rapaport was fired after making a derogatory comment towards the site's fan-base. According to CEO Erika Nardini, The Chernin Group has invested $25 million in the website. 2018 įollowing a round of fundraising reported in January, Barstool is said to have received a valuation of $100 million. The show's removal came after past statements from Barstool president Dave Portnoy resurfaced, one of which involved calling current ESPN employee Sam Ponder a "slut". president John Skipper citing concerns about distinguishing the content of Barstool from that of ESPN. It was cancelled after one episode, with ESPN Inc. The show starred Pardon My Take personalities PFT Commenter and Dan "Big Cat" Katz. On October 18, Barstool Van Talk debuted on ESPN2. Rappaport and Barstool quickly ended their relationship in a public feud involving Kevin Durant. On June 19, 2017, the site announced that Michael Rapaport would be joining Barstool Sports and hosting a podcast. The show made headlines on Februafter Indianapolis Colts punter Pat McAfee announced during a segment of that night's episode that he was retiring from the NFL to become a contributor to the site. In 2020, Chernin had seemed to relinquish the ownership of Barstool, which is now a joint venture between Portnoy and Penn Entertainment.ĭuring the week of Super Bowl LI, Barstool broadcast a televised version of The Barstool Rundown live from Houston on Comedy Central. On July 19, 2016, Erika Nardini, former chief marketing officer of AOL, was announced as the CEO of Barstool Sports. Restructuring įollowing the acquisition by The Chernin Group in January 2016, Portnoy continues to run the site and retains complete creative control as the company's Chief of Content. After an initial phone call, Kerns took a private plane from San Francisco to Boston in order to have dinner with Portnoy, discuss vision for Barstool and the future of the brand, and begin preliminary talks of an acquisition. During the appearance, Kerns and Portnoy detailed the beginning of their talks, when Kerns was put into contact with Portnoy via mutual friend and former University of Kentucky quarterback Jared Lorenzen. Background Ĭhernin Group president of digital Mike Kerns appeared on the inaugural episode of Portnoy's podcast, The Dave Portnoy Show, to discuss the acquisition. On January 7, 2016, Portnoy announced in an "emergency press conference" in Times Square that The Chernin Group had purchased a majority stake (51%) of Barstool Sports and the site would be moving its headquarters to New York City. In April 2014, AOL announced that they would be airing exclusive online content from Barstool Sports. It is wholly owned by Penn Entertainment.īarstool began in 2003 as a print publication which was distributed in the Boston metropolitan area and offered gambling advertisements and fantasy sports projections, but later expanded to encompass other topics. Founded by David Portnoy in 2003 in Milton, Massachusetts. Barstool Sports is an American blog website and digital media company headquartered in New York City that produces content on sports and pop culture.
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