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According to a report from The Wall Street Journal newspaper, the agreement values Barstool Sports Incorporated at approximately 0 million and is to involve the casino firm handing over around 5 million in cash as well as shares worth about million in exchange for a 36% stake in the Boston-heafree spins mobile slotsdquartered enterprise. Online Casino Digital dimension:The Wall Street Journal reported that Barstool Sports Incorporated was established by entrepreneur, Dave Portnoy, in 2003 and is responsible for producing a wide range podcasts, blogs, live events and social media content dealing with the nascent American sportsbetting market. Online Casino Although the concern initially launched as a gambling newspaper, it later purportedly moved online and last year premiered its mobile-friendly BarstoolBets. com domain featuring a range of editorial content alongside a selection of free-to-play sports games. Planned particulars:Citing sources close to the planned deal and the newspaper reported that the arrangement will see American investments giant The Chernin Group, which purchased a controlling 60% stake in Barstool Sports Incorporated in 2016, reduce this interest to about 36%. Online Casino Online Casino The publication detailed that the alliance is to additionally involve employees of the Massachusetts digital media firm including Portnoy and Chief Executive Officer, Erika Nardini retaining a collective 28% share. Online Casino Additional appeal:The Wyomissing-based Penn National Gaming Incorporated is subsequently hoping that its newly-acquired stake will allow it to steer a large proportion of the publisher’s audience of some 66 million readers towards its own estate of 41 gambling properties in 19 states.

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