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You are attributing all of Penn's sports wagering revenue to Barstool. Penn owns more than a dozen casinos. Given the severe underperformance of the reality vs
by listenallyall 3y ago
You are attributing all of Penn's sports wagering revenue to Barstool. Penn owns more than a dozen casinos. Given the severe underperformance of the reality vs projections, many in the industry believed that the Barstool brand was a net negative to Penn's efforts.
If anybody believed that the Barstool brand was successfully bringing in revenue, some other bidder would have bought it from Penn. The fact that they abandoned it for nothing kind of tells you how much value Penn believed that it had.