A Barstool Sports-branded sports bar is coming to Philadelphia.
Penn National Gaming, which bought a 36% stakein the digital media company last year for $163 million, is building the bar out as a standalone location, CEO Jay Snowden said in the company’s second quarter earnings report this week. The bar is slated to open later this year.
When asked where the forthcoming Philly bar will be located, a Penn National spokesman declined to provide further details.
The Philadelphia location will be one of the initial Barstool-branded sports bars from Wyomissing casino operator Penn National (NASDAQ: PENN). A Chicago location is also in the works and set to debut this year, per Penn National’s earnings report.
Penn National is also working to either open or rebrand five more Barstool Sports retail sportsbooks by the end of 2021, per its earnings report. The company is continuing to bolster its casino offerings by debuting more third-party content, introducing a Barstool-branded live dealer studio in New Jersey, and launching its first in-house developed Barstool-branded online table and slot games by year’s end.
In the second quarter, Penn National generated $1.55 billion in revenue, an increase of $1.24 billion year-over-over and $223 million more versus 2019.
As revenue rebounds from the depths of the Covid-19 pandemic last year, Penn National Gaming is diversifying its assets.
*Article courtesy of Philadephia Business Journal
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