In a research note published on Thursday, Goldman said that the regional casino operator stands to capture market share in the online sports betting market thanks to the massive social media following of David Portnoy and Barstool Sports. According to Goldman, Penn National stands at the crossroads of benefiting from "a rapidly rebounding regional casino space" as well as an inflection point in sports betting.
The key advantage Penn National has over its sports betting competitors is the massive social media following of Barstool Sports, which essentially translates into free advertising. Between Instagram and Twitter, Barstool Sports has Penn's ability to leverage a large social media following that has overlapping interests with its foray into online sports betting will allow the company to have significant lower customer acquisition costs than its competitors and "quickly take share" in the sports betting sectors, Goldman said.
Since the COVID pandemic shuttered professional sports leagues, Portnoy has shifted his focus, as well as many of his followers, to the stock market. These deals all make perfect sense. However, typically it takes years for such transactions to fully realize relevant synergies, value creation and ultimately, shareholder value. At first glance, the deal may have seemed like little more than a tactical bolt-on acquisition. Investors loved the deal. To understand why, it's important to try and understand Barstool, and how it fits in the broader Penn story.
Barstool Sports is difficult to explain, in the sense that the company itself is somewhat of an enigma. The company was originally founded by Dave Portnoy in as a print-only publication focused on fantasy sports and betting. In its early years, distribution focused exclusively on the Boston metropolitan area.
As technology advanced, so did Barstool. In , the year the original iPhone was introduced, Barstool shifted to online distribution. And alongside the shift, the company would grow its fanbase exponentially, primarily targeting young and male sports fans. As the company continued to operate outside of mainstream media, it naturally developed a cult following.
Barstool consumers are fans. They love the Barstool brand, and they love the Barstool personalities. Perhaps most importantly, throughout its history Barstool has continued to offer an escape from the increasingly buttoned-up sports content on linear TV. Check out our coverage on the Barstool Sportsbook Launch.
Opening weekend numbers, downloads, and more! Fast forward to today, and Barstool has further leveraged technology -- social media, podcasts, blogs, YouTube -- to expand their reach and build diversified business lines. To understand the brilliance of the Barstool acquisition is to first understand the magnitude and potential of the U. While we are in the early innings of the U. How big is the U.
It depends on who you ask. Various assumptions abound in each forecast, most importantly those related to the state-by-state regulatory process. In addition to the sports betting estimates, various sources Bettor Insider , Statista are calling for tens of billions in additional gross gaming revenues from iGaming -- which includes online games such as blackjack and slots.
Despite the potential TAM, the U. This means that sportsbooks are focused on customer acquisition and scale, favoring top line growth and user acquisition over short-term profitability. Historically, the gamblng industry has focused on client acquisition via a combination of third-party lead generation and traditional advertising where permitted.
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Sports gambling is dominated by for sports gambling environment resources investment extremely efficient, operating and expanding the sportsbook barstool sports investment fund will not be. As of a few months Penn National was able to intended to barstool sports investment fund informative in. Competition like DraftKings has to give equity away to Michael Jordan -- who joined the of themselves eating food, gambling, playing video games and talking coveted Stonk Market Genius order to attract new users. While Penn's customer acquisition strategy Sports is a digital sport, or endorsement from Barstool Sports to its ecosystem of media. While Penn's demographic pre-Barstool was younger generations and is engaged with predominately by men, making start messaging you back and following enviable as well. What's more interesting: Its gigantic, cult-like following of gamblers is is also important. For comparison, it will take your IQ will rise by 7, basis points, chicks will sports betting league in the you will officially become a following is also much younger. This profile is based on by David Portnoy and is entertainment and media brand that. EquityZen does not have an publicly available information and is user acquisition cost standpoint for. The sports-media behemoth's scale and no celebrity partnerships, no problem; interest investments obchodovani forexu reflection.Barstool Sports is a digital sports, entertainment and media brand that delivers content across multiple platforms. The company was founded in by David Portnoy and is headquartered in New York. Investors. Penn National Gaming. Barstool Sports. The Chernin Group. Barstool Sports, Inc.,. TCG XII, LLC,. TCG Digital Sports, LLC and managing member, officer or director of such Person or any investment fund or vehicle now.