So it’s clear that Penn National are happy with the launch of Barstool Sportsbook to the point where thy have raised $982.1 million in the sale of 16.1 million shares of $PENN stock.
Jay Snowden, president and CEO of Penn National, said in the press release:
“This successful offering provides our Company with additional resources to accelerate our unique omni-channel strategy, including launching the Barstool Sportsbook app in new markets, developing new products and features, establishing Barstool-branded sports bars and retail sportsbooks and reimagining the customer experience at our casinos, all while fortifying our balance sheet.”
It’s clear that Barstool will want to smash America but also the highly lucrative and mature European gambling market. However, there is an estimated $1 trillion of illegal gambling around the world with gambling illegal throughout China and many other Asian countries.
The footfall Penn has through it’s casinos provides are great method to build awareness of the Barstool Sports brand along with attracting a younger demographic to its casino’s. Sports bars will also work wanders to boost Barstool’s revenue and awareness.
In other news, Brandon Walker Has Been Wrecked