Initial Struggles: Dave Portnoy, founder of Barstool Sports, shared on the "Club Shay Shay" podcast that it took him a decade to earn his first $1 million.
Current Earnings: He now claims to generate $5 million in a week, emphasizing that once a financial breakthrough is achieved, income can flow more easily.
Barstool Sports Acquisition and Growth
Sale to Penn Entertainment: Barstool Sports was sold to Penn Entertainment in a deal valued at approximately $500 million, following a 36% stake acquisition in 2020.
Buyback for $1: Portnoy repurchased Barstool for just $1 after Penn Entertainment's partnership with ESPN to launch ESPN Bet.
New Partnerships and Visibility
Collaboration with Fox Sports: Barstool has entered a content deal with Fox Sports, enhancing its presence in national college football coverage and expanding its reach through various media platforms.
Impact of Compound Growth: Portnoy's financial success reflects the principle of compound growth, akin to Warren Buffett's analogy of a snowball gaining momentum downhill.
Media Ventures and Public Engagement
One Bite Pizza Reviews: Portnoy's popular "One Bite Pizza Reviews" app features him rating pizzas, contributing to his public persona and brand.
Pizza Festival Launch: The "One Bite Pizza Festival," celebrating pizza culture, debuted in 2023 in Coney Island, New York.
Upcoming Events
Participation in INDYCAR Event: Portnoy is set to participate in the "Fastest Seat in Sports" INDYCAR event on August 31, where he will ride in a custom-built car leading the race.
PENN
$13.435+Infinity%1D
Analyst Views on PENN
Wall Street analysts forecast PENN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PENN is 21.00 USD with a low forecast of 15.00 USD and a high forecast of 28.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
15 Analyst Rating
Wall Street analysts forecast PENN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PENN is 21.00 USD with a low forecast of 15.00 USD and a high forecast of 28.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
10 Buy
4 Hold
1 Sell
Moderate Buy
Current: 14.280
Low
15.00
Averages
21.00
High
28.00
Current: 14.280
Low
15.00
Averages
21.00
High
28.00
Citi
Neutral
initiated
$15
2025-11-20
Reason
Citi
Price Target
$15
2025-11-20
initiated
Neutral
Reason
Citi initiated coverage of Penn Entertainment with a Neutral rating and $15 price target. The firm is concerned that Penn's interactive segment will not deliver enough growth to offset the rest of the its portfolio.
Wells Fargo
Underweight
initiated
$15
2025-11-17
Reason
Wells Fargo
Price Target
$15
2025-11-17
initiated
Underweight
Reason
Wells Fargo initiated coverage of Penn Entertainment with an Underweight rating and $15 price target. The firm has a negative outlook on the long term growth potential of regional gaming. Wells also does not believe in the operating model and says Penn has a history of "questionable strategic decisions."
Needham
Bernie McTernan
Buy
to
Hold
downgrade
$22
2025-11-07
Reason
Needham
Bernie McTernan
Price Target
$22
2025-11-07
downgrade
Buy
to
Hold
Reason
Needham analyst Bernie McTernan downgraded Penn Entertainment (PENN) to Hold from Buy and removed the firm's previous $22 price target after the company announced the early termination of their partnership with Disney's (DIS) ESPN and new Interactive strategy focused on iGaming and omnichannel in the U.S. and maintaining their strategy with theScore in Canada. The bull case is that Penn can run a smaller, but profitable, Interactive business with the equity benefiting from no longer being burdened by Interactive losses, but the firm says the risk is a potential negative flywheel with Penn cutting back on marketing and other costs when competition is heating up from traditional online sports betting as well as prediction markets. The firm questions the cost structure of the business and revenue retention and growth, giving its less confidence in this "high floor strategy" until it learns more and has greater disclosure, the analyst tells investors.
CBRE
Hold
to
Buy
upgrade
$18
2025-11-07
Reason
CBRE
Price Target
$18
2025-11-07
upgrade
Hold
to
Buy
Reason
CBRE upgraded Penn Entertainment to Buy from Hold with an $18 price target.
About PENN
PENN Entertainment, Inc. is a provider of integrated entertainment, sports content, and casino gaming experiences. The Company operates in 28 jurisdictions throughout North America, with a broadly diversified portfolio of casinos, racetracks, and online sports betting and iCasino offerings under brands including Hollywood Casino, L’Auberge, ESPN BET, and theScore BET Sportsbook and Casino. Its segments include Northeast, South, West, Midwest, and Interactive. The Northeast segment includes Ameristar East Chicago, Hollywood Casino at Greektown, and Hollywood Casino Bangor. The South segment includes 1st Jackpot Casino, Ameristar Vicksburg, Boomtown New Orleans, and L’Auberge Baton Rouge. The West segment includes Ameristar Black Hawk, M Resort Spa Casino, and Zia Park Casino. The Midwest segment includes Ameristar Council Bluffs, Hollywood Casino Aurora, and River City Casino. Its Interactive segment includes online sports betting, online casino/iCasino, and social gaming operations.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
