---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-023083"
form_type: "8-K"
ticker: "PENN"
cik: "0000921738"
company_name: "PENN Entertainment, Inc."
filed_at: "2023-02-17T23:59:59+00:00"
generated_at: "2026-06-19T08:28:59.459278+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# PENN Entertainment completes acquisition of remaining Barstool Sports stake for $388M

## Summary
- Acquired remaining 64% interest in Barstool Sports for ~$388M; issued 2.44M shares and used ~$315M cash.
- Barstool wholly owned subsidiary of PENN; strengthens digital sports, gaming and entertainment portfolio.
- Since 2020 initial investment, Barstool grew audience 194%, podcast downloads 1.6B, ad sales up 160%.
- Barstool Sportsbook live in 15 states; migration to proprietary tech stack expected to enhance product.

## SEC filing metadata
- accession: 0001104659-23-023083
- form_type: 8-K
- ticker: PENN
- cik: 0000921738
- company_name: PENN Entertainment, Inc.
- filed_at: 2023-02-17T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/921738/000110465923023083/0001104659-23-023083-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/921738/000110465923023083/tm237071d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-023083
- JSON: https://secwatch.observer/filing/0001104659-23-023083.json
- Plain text: https://secwatch.observer/filing/0001104659-23-023083.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.