EXCLUSIVE: Barstool Sports is in advanced talks with DraftKings Inc. on a multi-year marketing and sports betting deal, after the end of Barstool's lock-up period with Penn National Gaming. The deal, rumored to be in the low eight-figure range, could significantly impact the gambling industry. Barstool, once again under the ownership of founder Dave Portnoy, is poised to enter a wide-ranging agreement with DraftKings. The financial market responded to the news, with DraftKings' stock rising 4% and Penn National's falling 2% shortly after the announcement.
$DKNG is in advanced talks to secure a deal with Barstool Sports, Sportico reports. "It makes a lot of sense to me," Oppenheimer managing director Jed Kelly says. "Now it's not a game changer for DraftKings by any means, but the deal does make a lot of sense." https://t.co/dk1y4fUmT1
Think I have this right? 1. Barstool sells to PENN for $551M 2. Less than 4 years later, PENN recognizes failure & sells Barstool back to Portnoy for $1 3. Just 6 months after that, Barstool doing 8-figure deal to promote one of PENN's (aka ESPNBet) biggest competitors https://t.co/2Ccc5uZyxa
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Report: DraftKings and Barstool Sports close to multi-million-dollar media partnership https://t.co/6wD7ECzz1q https://t.co/ynCFb0CYji
As broken by @novy_williams at @Sportico, Barstool is in "advanced talks" with $DKNG on a "multi-year marketing deal." A quick 🧵on the how, what, and why of the *possible* deal 👇
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$DKNG 5 mins after this story: up 4% $PENN 5 mins after this story: down 2% The rumored DraftKings/Barstool deal is reportedly low 8-figures. https://t.co/6lqXttM9NG
NEWS: Barstool is getting back into betting, entering advanced talks with @DKSportsbook per @Sportico. It was only a matter of time for a brand that is inextricably linked to gambling with shows like @BSSAdvisors and @PicksCentral. https://t.co/mnm2a4g1tV
BARSTOOL, $DKNG NEAR SPORTS BETTING DEAL AFTER $PENN LOCK-UP
EXCLUSIVE: @barstoolsports is getting back into betting. Once again under the ownership of founder @daveportnoy11, the media company is in advanced talks on a wide-ranging sports betting deal with DraftKings https://t.co/lUYvWs9ZTs