Episode 32: Penn National Ditches Barstool for ESPN and Divests it to Dave Portnoy for $0

Welcome to Episode 32! We have instant reaction to a wild flurry of sports gambling news. Penn National, which owned 100% of Barstool, entered into a 10-year, $2 Billion sports gambling alliance with ESPN. At the same time, they dropped Barstool and divested it to Dave Portnoy for free, except for the right to 50% of the proceeds of the next sale.

We look back at the original Penn-Barstool deal in 2020 and break down why this happened, why now, Portnoy's total return, winners and losers, the outlook for Barstool, where Portnoy stands now vs. Bill Simmons and Clay Travis, and a lot more. Enjoy!

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