![Dave Portnoy Accusations Prompt Scrutiny of Barstool as Penn National Pursues Acquisition](https://external-preview.redd.it/-9fe1epeCH8glDwkdQ466srZzpIyL1Od35cVZQeJtyc.jpg?auto=webp&s=cac19c038b4607d276e6e3a97da8441ed8e94910)
www.wsj.com/articles/dave-portnoy-accusations-prompt-scrutiny-of-barstool-as-penn-national-pursues-acquisition-11647511200?mod=e2tw
Tldr- Nevada is investigating Portnoy and Penn due to accusations by women. Penn standing by him for now. Also, buried the lede but.
Mr. Snowden said Mr. Portnoy will remain involved in what Penn does in sports betting, and the company is considering what the organizational structure will be. He expects to announce details in the third quarter.
"Ladies and gentlemen, Penn National presents the new Dave Portnoy show: Chicken's High! Broadcast live from the Tangiers Hotel!"
"I recently challenged Julia Black to a debate on this program and she declined. What are you worried about, Julia? You don't have to send me any questions. You can ask me anything you want."
"Don't do it...don't do it...oh Jesus, he's juggling."
The real Ace Rothstein was a dude named Lefty Rosenthal. Here’s a few clips from the real “Aces High”
If anything, DeNiro made it look too dynamic.
Great reference. Underrated comment over here
v good comment.
This is amazing haha
Chicken they’re going to reorganize us chicken!
It's very obvious they told content people that they need to start showing worth of some sort or they could be laid off, not renewed or, the third option as Dave has mentioned, "find them a spot supporting people who are doing well in content."
Tommy started his own show, Robbie Fox turned his attention from Mom's basement to try and push his MMA niche, even fucking Glenny Balls is trying to make content and do new shows.
Credit to Duggs who seems to have doubled down on not caring and just does nothing.
Am I crazy or does this article have literally nothing new at all? The "Nevada is investigating them" just means some people complained to Nevada and they have to publicly pretend like they give a fuck for a little bit before they give PENN the green light
It has nothing new to you, but the average person on the street has no fucking idea what Barstool is or who Dave Portnoy is. It's the WSJ, so it's a different audience.
right i get how articles work, i just meant it being posted on this sub
The average person knows barstool at this point.
the average person doesn't know Barstool is connected to Penn
Not over 30
I’d bet most barstool fans are over 30. Kids prob who know them through Josh Richards, but are busy watching Nelk or Mr. Beast or some other insanely famous content creators that I’ve never heard of.
I'd disagree, but regardless, that doesn't change the fact that the average person over 30 probably doesn't know what Barstool is. Think of your neighbors and coworkers, you reckon over 50% of them know what Barstool is?
Edit: For the shadowbanned bois that are replying to me- No, a rise in popularity in New England in 2010 does not mean that people outside that region have any clue what Barstool is
people are so weirdly gatekeepy in here, maybe technically not the average person in the world including the continent of africa and shit, but I think its safe to say someone reading an online wsj article has an idea of what barstool/portnoy is, especially if they clicked that headline
This is such a bad bad take. Draft Kings already used it as leverage to boot them from the NY bid group. Missed out on licensing. State investigations can be leveraged against Penn for licensing until he’s gone.
Dave’s allegations had nothing to do with the NY bid, the NY licenses were already done and decided before any of that happened
Bally was picked over Penn to bid with DK, FD, and MGM. That bid was successful. They based rejection on Dave being too much of a risk. They cited his sexual conduct and erratic behavior to Penn’s face lol.
You’re talking about his actual failed bid with Jay-Z. State rejected them without considering sexual conduct.
Brother those groups were decided long before the article dropped
this is entirely false.
This is easy. What’s the source? My memory of NY was that failure was way before the BI articles
How can the wheel help us here
Feel like an “everyone jump in the shower” wheel is a slight net negative here
A wet taco wheel probably doesn’t help either does it?
Did El Pres do it again or did El Pres do it again
I’m not an expert on gambling regulations but not sure what Dave’s alleged misconduct has to do with the Nevada gambling board
Senator, you promised me a hearing. You didn't even look at the F.B.I. reports. When you were my guest at the Barstool Sportsbook, did you not promise me a fair hearing?
"I was never your guest."
You were never my guest? I never comped you? I don't comp you at least three times a month?
"I'd like to answer that. Mr. Portnoy is being very typical to this point. He's lying. The only time I was at the Barstool Sportsbook was with Henry Blodgett."
Was I at that dinner? Tell me, was I at that dinner?
"You were wandering."
Was I at that dinner? Was I?
"You were wandering. You were... in the... You were in the building."
I was in the building? I know I was at that dinner, and you swore to me I would have a fair hearing. Did you not? Did you not? Well, tell me I was at least at the dinner. Allow me that much. Give me that much at least!
"Yes, you were."
Thanks for not calling me a liar, you son of a bitch.
That’s senator Harry Reid (being portrayed) in the movie. Nuts in retrospect
It's so funny that you could absolutely picture Dave right in this scenario if he had more of an operating interest in the casino piece of things.
Juggling on stage and challenging people to debates? Yeah that’s not too much of a leap
by sonny fucking bono, no less
Shocked (SHOCKED!) that Harry Reid has always been a complete scumbag.
Was he the guy who killed the hooker in godfather 2?
Dylan Sad Eyes is the incompetent nephew Dave should never have fired
From the article: "...to protect the reputation of the state and the reputation of the state’s gaming industry."
Might just be to say "hey we checked and everything is fine." Most likely it's just hedging their position so if Pres does go down they can put some distance between themselves and that.
Dave’s rambling instagram videos is basically the modern version of Aces High the Sam Rothstein Show.
Gee, I'm sure everything else to do with gambling in Nevada is on the up and up....let's investigate Dave Fucking Portnoy!
“The Nevada Gaming Control Board said it is investigating Penn, which is licensed in the state, and Mr. Portnoy. In a statement, the board chairman, Brin Gibson, said the board’s obligation “is to protect the reputation of the state and the reputation of the state’s gaming industry.” In a public board meeting in December, Mr. Gibson said he had requested information from Penn because he was concerned about Barstool.
The Barstool sports-betting app doesn’t operate in Nevada.”
So to be clear the Nevada gaming control board (a state that doesn’t currently allow Barstool to operate) is investigating Penn because they’re concerned about the reputation of the gambling industry because of accusation made?
The same Nevada that allowed Steve Wynn and Trump to operate in their state dating back to the 90s? Please.
Great points. If they're investigating employees of gambling companies, they should also investigate partners of gambling companies. That Dan Snyder fella has partnered with numerous gambling companies and he isnt on the up and up
Watch "Casino" - it explains a lot how the gaming board operates
More public than Trump? Cmon
Which is still ridiculous
“I did not rape those women.” - Dave “el Presidente” Portnoy
I did not hit her, it’s not true! It’s bullshit! I did not hit her! I did notttttt.
Oh hi Frank
and replying to every critique with "are you stupid"
“Dummy alert”
Rico just got some ammo for this weekend
I think anyone with a brain realized that they’re going to push Dave out by the end of the year, when they announced they were going to buy 100% of barstool.
lol this is 100% not happening because then Barstool becomes worthless and they lose their marketing arm and have to go to the Draftkings playbook that they can't afford
They’re going to roll with Big Cat and the rest of the idiots in the gambling cave for their marketing. I’m not saying it’s what they should do, but with a re-org looming it seems likely.
No they aren’t, Stool Mario
I had this impression as well.
He was gone after the first hit piece kept Penn from getting approval in New York. Could be ten years before they can apply for licensing there again.
Exactly. He’s become a liability unfortunately.
the timing of the departures of key people is not random, they are getting out while their resume is still a positive.
If you look though, from a business perspective (specifically the CRO) they have done really well, plus the job market is really hot—I wouldn’t be surprised if they got poached and in their initial contracts had some kind of period where they can’t work
I’m not saying it’s definitely what happened but I don’t necessarily think it necessarily means the hammer is going to drop here
there are lower level people too though who are completely irrelevant like the social media kid josh or for instance Mike Fowler going to a new podcast network instead of being head of an existing.
The social media kid, I don’t know much of anything about but someone going to a podcast network, unless you know the compensation they put in front of him, it’s tough to assess
Josh called Dave a racist last year, he was only still employed until now because he would've started an uproar on twitter about how Racist Dave retaliated against him for calling Racist Dave a Racist.
The timing could also be due to the fact Penn is taking 100% ownership in the near future
Ya they mentioned reorganization coming in Q3 so that’s probably at the management level more than the content side of things
A lot of the higher up roles will be redundant when they are fully integrated with Penn.
Was there new accusations?
Beginning of the end.
Meh. Article really didn’t say anything outside of the title. Click bait.
I think it was a reference to this. https://youtu.be/wxvFuKsWU1I
Could be wrong tho
That’s a hysterical video.
The walls are closing in
Laughed out loud when I was scrolling and saw they used the picture of him with Sebastian, the Miami Hurricanes mascot
“I did not have sex with Madison Beer.” - Dave Portnoy
Penn sucks
Wall Street Journal - Yale
Rapey Portnoy
Portnoy will be in prison
There’s nothing in that article that should put him in prison. Sure it’s scummy but the women are literally going over there to have sex with him… that’s on them…
I guess we should just expect hit pieces before every big sports weekend
This isn't a hit piece.
Growing their revenue by 150% since Penn, while on the surface a huge number, seems quite low compared to what I would have guessed. Fell victim to the Portnoy propaganda.
Only on this subreddit will 150% rev increases be considered “quite low” lmao
I agree with your sentiment and have no idea what the numbers should be, but you'd expect going live for the first time ever with online sportsbooks would be an astronomical spike in revenue. I don't know if 150% is or isn' that.
150% is astronomical
Seems like we are both being downvoted to hell but I never said the growth was bad, I just said you’d think it would be higher based on Dave’s “too the moon” references and the fact they entered a new space that has seen astronomical growth.
Everyone should see the revenue and revenue growth that DraftKings and Fanduel have had. Both are running laps around barstool/Penn in the online betting world in terms of overall revenue AND percentage growth. Yes their business model may be unsustainable in the future, but I would’ve expected the smaller fish to outpace their larger competitors in terms of percentage growth.
Might that include the cost of the acquisition? I think any company would love to report 150% increase in revenue over a two year span. That'd have any corp salivating.
What do we think their revenue is? $50M? $100M? $200M?
I think I read a different article that said their projected revenue was $250M
This man once tried to eat 12 pounds of watermelon in 15 minutes.