Penn Entertainment has increased its full-year forecast after announcing that its February acquisition of Barstool Sports will help it build on its success in the first three months and achieve further growth.
The Q1 was the beginning of a new chapter in Penn’s history. It completed its purchase of Barstool Sports mid-quarter. The operator claimed that this acquisition would enhance the cross-selling and customer acquisition opportunities for its interactive division.
Penn, who said that the acquisition would result in long-term growth, raised the company’s full-year revenue forecast to reflect this expectation.
