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US – Penn National Gaming completes 36 per cent purchase of Barstool Sports

Penn National Gaming has completed its previously announced acquisition of a 36 per cent interest in Barstool Sports for total consideration of approximately $163m, comprised of approximately $135 million in cash and $28 million in non-voting convertible preferred stock. Pursuant to the transaction terms, Penn National is now Barstool Sports’ exclusive gaming partner and has…