https://www.wsj.com/articles/penn-national-gaming…
Just wanted to get everyone's thoughts on the deal. Anyone have any idea if any banks worked on this? Sounds like a really awesome transaction. I think smart on PENN's part - Barstool probably could have gotten a better partner??
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Barstool sports is worth almost $500 million!?
I’ve had pretty compelling discussions go both ways on whether this is a gross over or underestimate. What do you think?
WeWork was "worth" $47billion at one point
I've tired of barstool, just not funny, but then again there are plenty of valuable companies whose products I don't get
since they aren't public, I wonder what their revenues come from. is it just ad revenue?
that’s a fair valuation imo. On Instagram, I only have 2400 followers @lloydblankfine, NBC News has 2 million followers, Barstool has 7.6 million followers AND local and university specific accounts as well. Huge influence and under 30 engagement, only growing bigger every day.
Who advised?
Not sure- would love to know
Best I can find for now: "Katy Spillers of Greenberg Glusker Fields Claman & Machtinger LLP acted as the legal advisor to Barstool Sports. Daniel A. Neff of Wachtell, Lipton, Rosen & Katz LLP acted as the legal advisor to Penn National. Bradford P. Weirick of Gibson, Dunn & Crutcher LLP acted as the legal advisor to TCG"
Still nothing on financial advisors
Moelis advised according to a few random news articles
Ever since Portnoy got that hairline patched up he has been stacking huge W's. Let this be a lesson, gents.
Wow. They must move a lot of the event tickets. Good for them. The whole thing would be fun to dissect given how much difficulty publishers are having now...
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