One Post wrote:
Ogie Oglethorpe wrote:
I love this. I had honestly been posting less about Barstool and consuming less of their content as they just weren't themselves with a corporate board watching over them and telling them to do a bunch of gambling content. Some gambling content is fine, but they were essentially told they couldn't do live shows on YouTube other than The Yak on most days as Penn wanted a bunch of gambling streams during those times without any other Barstool content competing with it.
This is golden for Dave and the original Barstool crew. They got their $640 million still and now they have their company to run it as they like. ESPN may be getting $150 million per year over 10 years with this Penn deal but it worked out for Barstool to essentially get $213 million per year over 3 years in this deal.
I'm excited for what comes next, especially with the new office launching. Portnoy is free to be himself. He was so very checked out the last few years as he had no control of his own company and was kept on a leash by Penn Corporate.
They're in a great spot, full equity in their company, no debt, and based upon Penn's financial statements, positive cashflow.
The haters are going to be driven nuts.
why you should love this is Barstool being a private company will prevent you from losing your hard earned dollars by investing in Barstool or its parent company.
I sold it at $70 (bought at $30)
Only individual stocks I hold right now are defense contractors. Everything else (the bulk of my portfolio) is in a healthy mix of mutual funds, ETFs, and a few REITs
I bought all of those defense stocks back in early Q4 2021 when the build-up began. Funniest shit back then was LTG going off like a moron telling me that Russia would not invade Ukraine despite all evidence to the contrary.