Penn Entertainment lost more than 1.5 billion dollars in two years after failed partnerships with Barstool and ESPN. The company has been a powerhouse for four decades, running over 40 casinos and racetracks and generating more than a billion dollars in revenue annually. When sports betting exploded in 2018, Penn wanted to attract younger gamblers, which led them to purchase Barstool Sports for a total of 551 million dollars in hopes of building a digital brand they lacked. The partnership quick
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Penn Entertainment lost more than 1.5 billion dollars in two years after failed partnerships with Barstool and ESPN. The company has been a powerhouse for four decades, running over 40 casinos and racetracks and generating more than a billion dollars in revenue annually. When sports betting exploded in 2018, Penn wanted to attract younger gamblers, which led them to purchase Barstool Sports for a total of 551 million dollars in hopes of building a digital brand they lacked. The partnership quick
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