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Posted on 8/9/23 at 8:52 am to lsu13lsu
quote:
Noncompete with Penn. Cannot market for anyone that competes against them.
That’s actually pretty big. Their gambling shows are their most profitable and I assume a large portion of their ad revenue comes from gaming companies.
Posted on 8/9/23 at 8:54 am to lsu13lsu
This deal is being marketed as much better for Barstool than it really is. Penn got a better deal with ESPN than Barstool for betting. But Barstool completely loses its betting market share and ability to be in the betting market. That was the most market with the most opportunity for Barstool. Essentially this deal turns Barstool back into solely content creation, so they have to harvest ad revenue and merchandising to make money. Which is much less profitable. And if Portnoy tries to offload or cash in again, he’s paying a hefty price
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