Barstool Sports and DraftKings have established a long-term partnership in which the latter will serve as the former’s sports betting partner.
As per the agreement, David Portnoy, the founder of Barstool Sports, has designated DraftKings as their sports wagering partner. Both organizations had formed a partnership for a marketing-focused endeavor a decade prior.
A few months prior to this agreement, Portnoy reclaimed the Barstool Sports brand from Penn Entertainment. Penn assumed control of the brand in 2020 and was engaged in the operation of sportsbooks under the Barstool Sports name.
This however fell through in August 2023, when Penn struck a partnership with ESPN. This situation presented an opportunity for ESPN, which is owned by Disney, to enter the sports wagering industry. The Penn and Barstool Sports alliance came to an end as a result. Penn decided to transfer the Barstool Sports name to Portnoy in exchange for non-competitive settlements and a nominal sum of $1.
On November 14th, Penn’s current Barstool Sports were rebranded under the umbrella of the new ESPN bet brand.
According to additional Barstool Sports news, Erika Ayers Badan has resigned as CEO after eight years in that position. She assumed the position of CEO at Barstool Sports in July 2016. Before that, she occupied positions of authority at organizations including Bkstg, Demand Media, AOL, and Yahoo.