In mid-February, PENN Leisure introduced it had accomplished its acquisition of Barstool Sports activities, Inc. after buying a 36% stake three years in the past. The remaining stake within the sports activities, leisure and lifestyle-focused media model was acquired for roughly $388 million.
Barstool Sports activities has now introduced that it has leased new workplace area in Chicago.
Whereas different firms have been frightened of excessive crime charges and leaving town, the Boston suburban firm determined to maneuver ahead and open a second 400,000-square-foot workplace.
New location to host full-size basketball court docket and golf simulator
Positioned at 400 N. Noble St., close to Fulton Market, west of the Chicago Loop, the commercial constructing bought by Jeff Shapack and Alec Litowitz features a full-size basketball court docket, a golf simulator, a number of music studios, an extra There’s area. Used for media creation of media content material.
The brand new location can be close to quite a few workplace and enormous condominium initiatives at present beneath building.
Barstool Sports activities spokesperson Debra Duffy has introduced that the corporate’s staff will exchange their New York workplace with a brand new Chicago workplace.
These facilities are sometimes present in most places of work belonging to gaming firms, however within the context of sure firms trying to minimize prices in preparation for a possible downturn, they’re slowly beginning to be eradicated in numerous industries. .
Rampant crime in Chicago drives large firms away
As talked about earlier, the choice to open a second workplace got here within the context of a rampant crime fee, which was inflicting massive firms to flee town.
This checklist contains well-known firms akin to Boeing, Tyson Meals and Caterpillar. Though Boeing did not particularly use town’s crime as the first motive for his or her transfer to Northern Virginia, all of them mentioned they may transfer to a different state in Illinois or Now we have determined to maneuver to a different location.
Positioned within the Chicago suburbs, McDonald’s has additionally raised considerations about legal exercise within the space, however has no obvious plans to maneuver out of town or state.
In 2022, Ken Griffin, an American billionaire, hedge fund supervisor, entrepreneur, founder, CEO, co-CIO, and 80% proprietor of Citadel LLC, will flip his $57 billion hedge fund right into a Chicago crime once more. and introduced that they might reap the benefits of finances points to carry it to Miami. as the primary motive.
PENN Leisure at present operates 4 impartial casinos in Illinois, and Barstool Sportsbook additionally gives cell sports activities betting providers in Prairie.
Barstool Sports activities’ first Windy Metropolis workplace is positioned within the Lakeview space that hosts the River North sports activities bar.
Final November, the Barstool Sportsbook went stay in Maryland, permitting prospects within the state to guess on the world’s prime sports activities leagues.
