{"id":38276,"date":"2023-08-10T14:50:37","date_gmt":"2023-08-10T14:50:37","guid":{"rendered":"https:\/\/www.safebettingsites.com\/?p=38276"},"modified":"2023-08-10T14:50:37","modified_gmt":"2023-08-10T14:50:37","slug":"dave-portnoy-admits-barstool-doesnt-fit-in-gambling-industry","status":"publish","type":"post","link":"https:\/\/www.safebettingsites.com\/2023\/08\/10\/dave-portnoy-admits-barstool-doesnt-fit-in-gambling-industry-following-penn-partnership-collapse\/","title":{"rendered":"Dave Portnoy admits Barstool doesn’t fit in gambling industry following Penn partnership collapse"},"content":{"rendered":"
Barstool Sports founder Dave Portnoy admitted his company ‘isn’t a good fit in the gambling industry’ following the collapse of Barstool’s $550m partnership with Penn Entertainment.<\/strong><\/p>\n Portnoy is now the 100% owner of Barstool Sports after former parent Penn Entertainment sold it back to him, instead opting to pursue a 10-year sports betting deal with ESPN which will see Barstool Sportsbook become ESPN Bet.<\/p>\n The 46-year-old businessman admitted he underestimated how difficult it was for Barstool to work in a regulated space, which he personally was partly at fault for.<\/p>\n \u201cAnd I think we underestimated how tough it is for myself and Barstool to operate in a regulated world where gambling operators, the New York Times, [and] Business Insider hit pieces [are] f****** with the stock price. Every time we did something it was one step forward, two steps back.\u201d<\/em><\/p>\n \u201cWe got denied [gambling] licenses because of me, you name it,\u201d <\/em>Portnoy said. \u201cSo the regulated industry [is] probably not the best place for Barstool Sports and the type of content we make.\u201d<\/em><\/p>\n \u201cFor the first time in forever, we don\u2019t have to watch what we say, how we talk, what we do. It\u2019s back to the pirate ship.\u201d<\/em><\/p>\n Emergency Press Conference – I Bought Back Barstool Sports pic.twitter.com\/dmUk0eNowx<\/a><\/p>\n\n