Bangor Casino Owner Buys Into Barstool Sports

According to the Bangor Daily News, Penn National Gaming, which owns Hollywood Slots in Bangor, now has a 36 percent stake in Barstool Sports Inc.

Barstool Sports, known for their sports lifestyle blogs and video content.

As part of the $163 million deal, Penn National Gaming has the rights to use the Barstool Sports brand in their sports betting products.  In three years, Penn National can up their stake to 50% by tossing in an additional $62 million.

In 2018, the U.S. Supreme Court struck down a law prohibiting sports betting.  Currently, 13 states allow sports betting.  Maine, however, is not one of them.  Recently, Democratic Gov. Janet Mills vetoed a bill that would allow sports betting in Maine, saying that she was not convinced Mainers wanted more access to gambling.