Dave Portnoy, Barstool Sports founder, accused of violent sexual misconduct. John Iadarola and Brett Erlich break it down on The Damage Report.
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Read more here: https://variety.com/2021/digital/news/barstool-sports-portnoy-violent-sex-allegations-stock-1235105157/
"Shares of Penn National Gaming fell more than 20% Thursday, after the publication of an article in which several women alleged that they had “violent and humiliating” sexual encounters with Dave Portnoy, president of Barstool Sports. Penn National, which operates casinos, racetracks and online sports betting, owns a significant equity stake in Barstool.
The drop in Penn National’s stock price also came after the company missed Q3 earnings expectations. Revenue climbed 34%, to $1.51 billion, but net profit dropped 65% to $86.1 million (52 cents per share), well below Wall Street average forecasts of EPS of 85 cents. The company shares opened -4.6% after the earnings report was issued Thursday morning."
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