Hedgeye Gaming analyst Todd Jordan explains the long-term implications of $PENN acquiring 100% of Barstool Sports.
“We’ve always had this in our model, projections, and valuation to buyout the remainder of Barstool” says Jordan in a recent appearance on The Macro Show. “$PENN and Barstool decided they didn’t want to go crazy with their marketing spend… necessarily what this means is that $PENN’s market share will go up and they are starting to benefit from overall sentiment.”
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