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More info on the barstool deal. - Nearly $100m in profitable revenue in 2019. 53% growth in 2018, 65% in 19. So if assume $90m in 2019 then assume $61m in 18 and $32m in 2017 (my math right?) - Was valued at $15m in 2016. - 63% of readers are gamblers.pic.twitter.com/o5FEHuQCdq
- Goal is to get Barstool's personalities to drive to penn. - Penn's stock is up like 25% since the deal. Market cap is up nearly $1b!!!. - Penn paid $125m in cash for a stake valuing the business at $400m More here: https://pennnationalgaming.gcs-web.com/static-files/7d9349ed-f12a-4a55-9336-5623151149a2?fbclid=IwAR24FDV0ZfbzfbKFuPA_82KQ-NTCR_tTJfP30JyDFr_UV1ekcnK1qRaWhY4 …
Cc @BizNasty2point0 @ryanwhitney6 @RearAdBsBlog @MikeGrinnell_ check the game notes buds. Some solid analysis on Bar Stool deal financials.
Surprised at high % of gamblers but wonder how many gambled before Barstool.
And nearly 1/3 of that kind of revenue from commerce?
Makes me feel guilty for not buying any @TheHustle merch.
It’s rumored that one of Penn’s first “Barstool” transitions will be the Charlestown Casino just over the WV state line not far from DC. Penn built a shitty sportsbook as soon as the law was passed.
We (buddies) go a couple times/year but it sucks. Willing to bet/hoping the Barstool stamp leads to much cooler venue. Would definitely go more if so.
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