PENN Entertainment in its $388 million acquisition of the remaining shares of Barstool Sports

On February 17th, 2023, PENN Entertainment, Inc. (Nasdaq: PENN) completed its acquisition of Barstool Sports, Inc. after previously acquiring a 36% stake in Barstool Sports in February 2020.  PENN has acquired the remaining interest in Barstool Sports for approximately $388 million of cash and shares of PENN common stock.

Wachtell, Lipton, Rosen & Katz served as legal advisor to PENN.