Barstool Sports and DraftKings are on the verge of forming a strategic betting partnership, described as a “game changer” for both companies.
As reported by Gambling News, no official announcement or acknowledgment has been made, but sources close to the deal have suggested it is just a matter of time.
Barstool is a prominent American sports and pop culture blog website founded in 2003 by David Portnoy, who has recently repurchased the company after a messy divorce from Penn Entertainment.
That has paved the way for the new business relationship with DraftKings, a leading US gambling and fantasy sports platform.
The partnership will be a traditional marketing venture, with DraftKings odds displayed extensively across Barstool’s catalog of blog sites and content to drive its engaged reader base toward the sportsbook.
Restrictions and reward
A lucrative multi-year contract has been suggested, which would provide a significant boost to the balance sheet for Portnoy’s company, but the secrecy around the deal can be traced back to recent events.
No agreement can be signed before the Super Bowl, with Barstool prevented from certain activities following its recent separation from Penn Entertainment. The split involved Penn selling Barstool back to Portnoy for a symbolic dollar. Still, an embargo was also placed on Barstool’s reintroducing to the gambling market until the end of the current NFL season and playoffs.
The regulatory landscape wasn’t the most fertile spot for Barstool to flourish, but an amicable end with Penn was confirmed by Portnoy, who is glad to be back in control of his own destiny:
“For the first time in forever, we don’t have to watch what we say, how we talk, what we do. It’s back to the pirate ship. And by the way, I am never going to sell Barstool Sports, ever.”
“I’ll hold it ‘till I die, and when I die, I’ll give it to Dan, to Kevin, whosever’s left standing, if their kids are still alive, they’ll get it, whatever. We will pass it down.”
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