{"id":274956,"date":"2023-05-25T14:29:07","date_gmt":"2023-05-25T19:29:07","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=274956"},"modified":"2023-05-26T14:41:06","modified_gmt":"2023-05-26T19:41:06","slug":"portnoy-future-with-penn-entertainment-not-guaranteed","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/portnoy-future-with-penn-entertainment-not-guaranteed\/","title":{"rendered":"David Portnoy\u2019s Future with Bartsool, Penn Entertainment in Limbo"},"content":{"rendered":"

David Portnoy is the face of Barstool Sports, <\/em>the sports and entertainment media company he founded two decades ago. He\u2019s not certain for how long that status will continue.<\/p>\n

\"Penn
Barstool Sports founder David Portnoy, seen during an interview, above. His future with Penn Entertainment is up in the air. (Image: Politico<\/em>)<\/figcaption><\/figure>\n

Portnoy’s contract with Penn Entertainment (NASDAQ: PENN) is up in 20 months, and there are no guarantees the two sides will reach an extension. In February, Penn paid $388 million<\/a> for the 64% of Barstool Sports<\/em> it didn\u2019t previously own, bringing the total acquisition price for Portnoy\u2019s company to $551 million. In an interview on \u201cThe Kirk Minihane Show\u201d earlier this week, Portnoy was ambiguous regarding his future with Penn.<\/p>\n

There\u2019s been some talk about it. Like you said [previously], who knows what they\u2019re thinking at this point,\u201d<\/strong> he told Minihane.<\/p><\/blockquote>\n

That interview occurred about two weeks after Portnoy took to Twitter<\/a> to tell followers he added to his already large position in Penn stock. That tweet provided a temporary boost to the slumping shares. In a subsequent tweet, Portnoy asked his followers whether he should remain at Penn and show signs of overt support for the gaming company.<\/p>\n

Portnoy\/Penn Union Has Been Bumpy<\/h2>\n

Penn took its initial stake in Barstool Sports<\/em> in 2020, hoping to leverage the brash, upstart media entity to build its online sportsbook and lure a younger, hipper clientele to its regional casinos.<\/p>\n

\n

While there are indications the deal paid dividends on the latter front, Barstool Sportsbook remains a bit player on the regulated sports wagering scene in the US. Additionally, the Portnoy\/Penn marriage hasn\u2019t always been harmonious. That much was on display when Barstool, at the behest of Penn, fired Poker player<\/a> Ben \u201cMintzy\u201d Mintz earlier this month for using a racial slur while reciting a rap song on air.<\/p>\n<\/div>\n

Portnoy and Barstool Sports<\/em> CEO Erika Nardini openly disagreed with the decision. There have also been allegations of sexual misconduct against Portnoy, though he\u2019s never faced charges in a criminal court. He\u2019s also rankled some with his views on various issues of the day, including the Supreme Court\u2019s 2022 decision to send abortion rights back to the states and, more recently, the collapse of Silicon Valley Bank<\/a>.<\/p>\n

Add it all up, and some analysts speculate that Penn could eventually sell or spin off Barstool Sports,<\/em> and there\u2019s speculation the pool of potential buyers would be larger if Portnoy was out of the picture. Conversely, there are analysts covering Penn who don\u2019t\u2019 view Portnoy as problematic<\/a>.<\/p>\n

Portnoy\u2019s Post-Barstool Options<\/h2>\n

Should he ultimately leave Barstool Sports<\/em> and Penn, Portnoy has plenty of options. In the interview with Minihane, he toyed with the idea of a podcast or spending some time out of the limelight.<\/p>\n

He also mentioned the possibility of producing longer-form content, perhaps leveraging his famous pizza tastings into Anthony Bourdain-esque content.<\/strong><\/p>\n

\u201cLike a pizza show on Netflix<\/em> where you\u2019re doing like 15 minutes a spot \u2026 I like doing it. It excites me. I think it\u2019d be wildly successful \u2026 like [Anthony] Bourdain of what I\u2019m doing,\u201d Portnoy told Minihane.<\/p>\n","protected":false},"excerpt":{"rendered":"

David Portnoy is the face of Barstool Sports, the sports and entertainment media company he founded two decades ago. He\u2019s not certain for how long that status will continue. Portnoy’s contract with Penn Entertainment (NASDAQ: PENN) is up in 20 months, and there are no guarantees the two sides will reach an extension. In February, […]<\/p>\n","protected":false},"author":46,"featured_media":227104,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[11,33810,1,1074],"tags":[82416,81898,81967,80968],"acf":[],"yoast_head":"\nPortnoy Future With Penn Entertainment Not Guaranteed<\/title>\n<meta name=\"description\" content=\"David Portnoy could leave Penn Entertainment when his contract expires in 20 months.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/portnoy-future-with-penn-entertainment-not-guaranteed\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Portnoy Future With Penn Entertainment Not Guaranteed\" \/>\n<meta property=\"og:description\" content=\"David Portnoy could leave Penn Entertainment when his contract expires in 20 months.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/portnoy-future-with-penn-entertainment-not-guaranteed\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-25T19:29:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-26T19:41:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/DP.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1160\" \/>\n\t<meta property=\"og:image:height\" content=\"773\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/portnoy-future-with-penn-entertainment-not-guaranteed\/\",\"url\":\"https:\/\/www.casino.org\/news\/portnoy-future-with-penn-entertainment-not-guaranteed\/\",\"name\":\"Portnoy Future With Penn Entertainment Not Guaranteed\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/portnoy-future-with-penn-entertainment-not-guaranteed\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/portnoy-future-with-penn-entertainment-not-guaranteed\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/DP.jpg\",\"datePublished\":\"2023-05-25T19:29:07+00:00\",\"dateModified\":\"2023-05-26T19:41:06+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"David Portnoy could leave Penn Entertainment when his contract expires in 20 months.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/portnoy-future-with-penn-entertainment-not-guaranteed\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/portnoy-future-with-penn-entertainment-not-guaranteed\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/portnoy-future-with-penn-entertainment-not-guaranteed\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/DP.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/DP.jpg\",\"width\":1160,\"height\":773,\"caption\":\"Barstool Sports founder David Portnoy. 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