David Portnoy is the face of bar stool sports activities, The sports activities and leisure media firm he based 20 years in the past. It’s not recognized how lengthy the scenario will final.
Portnoy’s contract with Penn Leisure (NASDAQ:PENN) expires in 20 months, and there isn’t any assure both facet will attain an extension. In February Penn paid $388 million for a 64% stake. bar stool sports activities The corporate was not beforehand owned, so Portnoy’s acquisition of the corporate totaled $551 million. In an interview on The Kirk Minihane Present earlier this week, he was imprecise about his future with Pen.
There was some speak about it. Such as you[previously]mentioned, no person is aware of what they’re considering at this level,” he instructed Minihane.
The interview comes about two weeks after Mr. Portnoy took to Twitter to inform followers that he had added to an already giant place in Pennsylvania shares. The tweet quickly gave the struggling inventory a lift. In a subsequent tweet, Portnoy requested followers if he ought to keep at Penn and present his open endorsement of the sport firm.
Portnoy/Penn Union is rocky
Penn acquired its first stake bar stool sports activities In 2020, we hope to leverage this cheeky media start-up to construct an internet sportsbook to lure younger, hipster clients to our native casinos.
Barstool Sportsbook stays a minor participant within the US regulated sports activities betting scene, though there are indicators that the deal has paid off on the latter entrance. Furthermore, Portnoy and Penn’s marriage was not at all times amicable. That was made clear earlier this month when Barstool, on Penn’s orders, fired poker participant Ben “Minzi” Mintz for utilizing racial adjectives whereas reciting a rap music on air. .
Portnoy and bar stool sports activities CEO Erica Nardini publicly opposed the choice. There are additionally allegations of sexual misconduct in opposition to Portnoy, however he has by no means been charged in a prison court docket. He additionally irritated some together with his views on varied problems with the time, together with the 2022 Supreme Court docket resolution to return abortion rights to the states and, most just lately, the Silicon Valley Financial institution collapse. there’s
Add all that up, and a few analysts speculate that Penn may finally be offered or spun off. bar stool sports activities, And there’s hypothesis that the pool of potential patrons can be even bigger if Portnoy is neglected. Conversely, some analysts masking the pen do not see Portnoy as an issue.
Portnoy Publish Barstool Choices
ought to he lastly depart bar stool sports activities Penn, Portnoy has loads of choices. In an interview with Minihane, he toyed with the thought of spending time on podcasts and away from the stage.
He additionally talked about the potential for producing longer-form content material, maybe leveraging his well-known pizza tastings for Anthony Bourdain-esque content material.
“Like a pizza present” Netflix I do about quarter-hour per spot…I like doing that. it excites me. I feel it should be an enormous success … like[Anthony]Bourdain in what I am doing,” Portnoy instructed Minihane.
