DIRS.INFO The most relevant business & tech news

☆ Mark Cuban nearly went broke at age 27—and became a millionaire 5 years later
▼ + stars: | 2023-08-10 | by ( Megan Sauer | ) www.cnbc.com time to read: +3 min

Mark Cuban vividly remembers the moment he realized he was nearly broke. The secretary took about $82,000, effectively wiping out MicroSolutions' account balance, Cuban confirmed to CNBC Make It. Cuban then helped co-found AudioNet, which became Broadcast.com and was acquired by Yahoo for $5.7 billion in 1999, making Cuban a billionaire at age 40. "Once you learn how to sell, you can always start a business, [because] you're an entrepreneur at heart," Cuban told The School of Hard Knocks last year. Disclosure: CNBC owns the exclusive off-network cable rights to "Shark Tank," which features Mark Cuban as a panelist.

Persons: Mark Cuban, TikToker Bobbi Althoff's, Cuban, Barstool, wasn't, Forbes, multimillionaire, NPR's, Rainer Zitelmann, Warren Buffett Organizations: CNBC, New York Times, Cisco, CompuServe, Yahoo, Cuban, Fortune, Hard Locations: Cuban

☆ Truist downgrades Penn Entertainment, says uncertainty lingers over ESPN partnership
▼ + stars: | 2023-08-10 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Truist isn't sold on Penn Entertainment's partnership with ESPN. The company made headlines this week after announcing a deal with Disney's ESPN to relaunch its sports betting app as ESPN Bet . Penn shares rallied more than 9% on the news, marking their best day since June 24, 2022 — when they surged 12.7%. PENN 5D mountain Penn Entertainment shares surged after ESPN deal announcement But Truist analyst Barry Jonas said traders still need time to "digest" the news. Penn Entertainment stock has slipped nearly 9% from the start of the year.

Persons: Truist isn't, Penn, Barry Jonas, they're, Jonas, PENN mgmt, — CNBC's Michael Bloom Organizations: Penn, ESPN, ESPN Bet, Bartstool, PENN, Penn Entertainment, Disney

☆ Dave Portnoy is the only natural owner for Barstool Sports long-term, says PENN CEO Jay Snowden
▼ + stars: | 2023-08-09 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDave Portnoy is the only natural owner for Barstool Sports long-term, says PENN CEO Jay Snowden'Mad Money' host Jim Cramer and CNBC's Contessa Brewer sit down with PENN entertainment President and CEO Jay Snowden to talk PENN's new partnership with ESPN.

Persons: Dave Portnoy, Jay Snowden, Jim Cramer, Contessa Brewer Organizations: Barstool, PENN, ESPN

☆ These are Wall Street's favorite gambling stocks as ESPN jumps into online sports betting. One is expected to rally 50%
▼ + stars: | 2023-08-09 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

The worldwide leader in sports is finally jumping into online betting. Disney's ESPN division late Tuesday agreed to partner with Penn Entertainment to rebrand and relaunch the latter's online gambling sportsbook as ESPN Bet. ESPN entering the online gambling business could signal another run for gaming companies that have a presence in the industry. Now, the deal with ESPN may spell especially good news for Penn at the same time as it expands the entire online sports universe, boosting sentiment toward other online gaming companies. Online sports wagering, where individuals create betting accounts and make wagers using an online device, is legal in roughly 30 states.

Persons: Penn, Wall, FactSet Organizations: ESPN, Penn Entertainment, ESPN Bet, Penn, CNBC Pro, Wall Street, Rush, Interactive, Caesars Entertainment, Caesars, Boyd Gaming Corporation, Boyd Gaming Locations: Canada, Latin America, Vegas, Las Vegas

☆ 3 key questions Disney analysts say CEO Bob Iger faces ahead of earnings, as concerns mount about succession and streaming profits
▼ + stars: | 2023-08-09 | by ( Reed Alexander | Lucia Moses | ) www.businessinsider.com time to read: +12 min

For Disney, Iger's return was a doctor's-orders scenario. "What is the long game for any pure-play media company in a world where we have tech-driven media companies that are much larger than any traditional media company and have fundamentally different business models?" Will Disney sell TV assets like ABC? Industry watchers have focused on private-equity firms as likely buyers of Disney's TV assets. Are you a Disney insider?

Persons: Bob Iger, Bob Chapek, Iger, Disney, Iger's, Peter Csathy, Tom Staggs, Kevin Mayer, Csathy, they're, He's, Paul Verna, Verna, David Heger, Edward Jones, Heger, Hulu —, it's, Dave Portnoy's Barstool, Will, Evercore, Dana Walden, Alan Bergman, Puck, Disney bigwigs, Mayer, Walden, Bergman, Reed Alexander, Lucia Moses Organizations: Disney, ESPN, Walt Disney Co, Hollywood, Creative Media, Apple, PE, Candle Media, Insider Intelligence, Hulu, LightShed Partners, Penn Entertainment, ESPN Bet, Penn, Yahoo Finance, Will Disney, ABC, Geographic, CNBC, Industry, Disney's, Parks

☆ Disney's big sports-betting deal has industry insiders abuzz about possibilities, from a potential ESPN spinoff to heightened competition
▼ + stars: | 2023-08-09 | by ( Ashley Rodriguez | Margaret Fleming | Lucia Moses | ) www.businessinsider.com time to read: +11 min

Many view the deal as a "win-win" for ESPN, Penn, and its former partner Barstool Sports. Industry insiders say the deal could signal a potential ESPN spinoff, disrupt competition, and more. Gambling industry insiders thought Disney CEO Bob Iger might make quick work of setting a sports-betting strategy when he took back the reins of the ESPN owner late last year. Here's what industry insiders are saying about the deal:1. Industry insiders like affiliate marketing company Gambling.com's Max Bichsel aren't sure about that prediction.

Persons: Barstool, Bob Iger, Penn, sportsbooks, who's, Chris Grove, Dave Portnoy, Portnoy, Fox's, Sharp, Sharp Alpha Advisor's Lloyd Danzig, Dan, Danzig, Brandon Nispel, he's, Nispel, Kimberly White, FanDuel, BetMGM, Zachary, Gambling.com's Max Bichsel aren't, Bichsel, I'm, Grove, It's, DraftKings, let's, FuboTV, hasn't, Fox Bet, Ed Moed, Fox, Dan Wasiolek, Wasiolek Organizations: ESPN, Penn Entertainment, Penn, Barstool Sports . Industry, ESPN Bet, Investors, Acies Investments, Barstool Sports, Sharp Alpha, Disney, KeyBanc, CFRA Research, . Industry, ESPN —, Fox, Maxim Magazine, Sports, Fox Bet, Morningstar Locations: Macquarie, Canada

☆ After divesting Barstool Sports, Penn Entertainment CEO says Dave Portnoy is the only 'natural owner' for the company long term
▼ + stars: | 2023-08-09 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Penn Entertainment CEO Jay Snowden told CNBC's Jim Cramer and CNBC's Contessa Brewer that the only natural owner of Barstool Sports was David Portnoy, who founded the company in 2003. Penn Entertainment, a gambling firm, announced Tuesday it would be divesting Barstool — selling the entity back to Portnoy — while entering a $1.5 billion deal with Disney 's ESPN to launch a betting sportsbook. "Dave Portnoy is the only natural owner for Barstool sports long term," Snowden said. Snowden explained that the company realized its product was quickly becoming outdated by having to rely on a third-party platform. The ESPN deal marks the first time the brand will be on a sports betting platform, known as ESPN Bet.

Persons: Jay Snowden, Jim Cramer, Contessa Brewer, David Portnoy, Portnoy —, Dave Portnoy, Snowden, Wednesday's, DraftKings Organizations: Penn Entertainment, Barstool Sports, Disney, ESPN, ESPN Bet

☆ ESPN launches sportsbook with Penn Entertainment—Here's what investors should know
▼ + stars: | 2023-08-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailESPN launches sportsbook with Penn Entertainment—Here's what investors should knowESPN just struck a $1.5 billion deal with Penn Entertainment to rebrand Barstool Sportsbook as ESPN Bet. ESPN will buy $500 million in shares of Penn, and sell its stake in Sportsbook back to founder Dave Portnoy.

Persons: Dave Portnoy Organizations: ESPN, Penn Entertainment, ESPN Bet, Penn Locations: Sportsbook

☆ Penn Entertainment to create ESPN Bet, sells Barstool back to David Portnoy
▼ + stars: | 2023-08-08 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +1 min

New York CNN —Casino owner PENN Entertainment has dropped Barstool, the sports website, agreeing to a $2 billion dollar deal with ESPN to create ESPN Bet. The online Barstool Sportsbook will be rebranded as ESPN Bet in the fall, PENN said in a statement Tuesday. It secured exclusive rights to the ESPN Bet trademark for 10 years, with an option to be extended for another 10. To get out of some its “non-compete and other restrictive covenants” with Barstool, PENN sold all of its Barstool common stock to the sports site’s founder, David Portnoy. PENN completed its acquisition of Barstool in February, after buying an initial 36% stake of Barstool Sports in 2020.

Persons: PENN, Jay Snowden, David Portnoy, ”, Portnoy, it’s, ” Portnoy, “ Penn, ” PENN, “ Organizations: New, New York CNN — Casino, PENN Entertainment, ESPN, ESPN Bet, Penn, Twitter, Barstool Sports, Barstool Locations: New York, Barstool

☆ ESPN launches sportsbook in partnership with Penn Entertainment
▼ + stars: | 2023-08-08 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

Disney 's ESPN is launching a betting sportsbook, putting the sports entertainment unit deeper into the wagering world. U.S. gambling company Penn Entertainment said it is partnering with ESPN to rebrand and relaunch its sportsbook as ESPN Bet. ESPN Bet will take over Penn's Barstool Sportsbook and become ESPN's exclusive operation. As part of the deal, Penn will pay ESPN $1.5 billion in cash over the 10-year period. Correction: Penn Entertainment reported in February that its sports-betting business turned a profit in the final three months of the fiscal year.

Persons: Bob Chapek, Bob Iger, David Portnoy, Penn, Portnoy, — CNBC's Alex Sherman Organizations: Disney, ESPN, Penn Entertainment, ESPN Bet, Hulu, CNBC, Penn, Sports, Barstool Locations: U.S

☆ Dave Portnoy buys Barstool Sports back for next to nothing, years after selling it
▼ + stars: | 2023-08-08 | by ( Katherine Tangalakis-Lippert | Ashley Rodriguez | ) www.businessinsider.com time to read: +3 min

Dave Portnoy is once again the owner of Barstool Sports. Portnoy bought the company stock back from PENN Entertainment after a deal initiated in 2020. PENN had finalized its complete acquisition of Barstool this year in the deal worth $551 million. Dave Portnoy is once again the owner of Barstool Sports. On Tuesday, Portnoy, who founded Barstool in 2003 said in a video posted to Twitter: "PENN Entertainment and Barstool Sports have gone our separate ways.

Persons: Dave Portnoy, Portnoy, PENN, Penn, Barstool, David Portnoy, Barstool hasn't, Ben Mintz, Penn's Organizations: Barstool Sports, PENN Entertainment, Morning, Barstool, Twitter, Disney's ESPN, ESPN BET, Penn, ESPN, New York Times, Action Network, Sports, PENN National

☆ Penn Entertainment sells Barstool Sports back to founder Dave Portnoy
▼ + stars: | 2023-08-08 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

David Portnoy, the outspoken founder of Barstool Sports, is once again the owner of his media brand, after buying it back from Penn Entertainment . Barstool Sports was valued at $606 million in February, when Penn bought the rest of the company it didn't already own. Portnoy, who founded Barstool Sports in 2003, said in a post on Tuesday that Penn and Barstool had "gone our separate ways." Penn sold Barstool at the same time that it announced an online sports-betting deal with Disney -owned ESPN. Penn will have the right to 50% of the gross proceeds in the event that Portnoy sells or monetizes Barstool, the release said.

Persons: David Portnoy, Penn, didn't, Portnoy, Barstool, — CNBC's Lilian Rizzo Organizations: Barstool, Monster Energy NASCAR, Las Vegas Motor, Penn Entertainment, Sports, Barstool Sports, Disney, ESPN Locations: Las Vegas, NV

☆ The Meme ETF is tearing it up again. Some stocks inside it have further to go, according to Wall Street
▼ + stars: | 2023-07-24 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The so-called meme stock trade is gaining steam once again, and several of the most popular stocks among social media traders have serious upside, according to Wall Street analysts. A quick way to check the pulse of social media-driven traders is the Roundhilll Meme Stock ETF (MEME) . The meme stock with the most upside, according to Wall Street analyst targets compiled by FactSet, is battery manufacturer Enovix . Airlines may not be obvious meme stocks, but Delta Air Lines and Spirit Airlines are both holdings in the fund. To be sure, Wall Street analysts are bullish on fewer than half of the holdings in the MEME ETF.

Persons: Enovix, Dave Portnoy Organizations: Wall Street, GameStop, AMC Entertainment, Wall, Penn Entertainment, Penn, Barstool Sports, YouTube, Airlines, Delta Air Lines, Spirit Airlines, Consumer

☆ Don't worry pizza-heads, NYC is still safe for pizza
▼ + stars: | 2023-06-27 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +6 min

New York CNN —Lawmakers and prominent social media personalities have in recent days rallied against a proposed New York City rule that some say would crack down on the city’s beloved pizzerias. New York City is famously and deservedly known for its pizza. I hear New York City is trying to ban delicious pizza. New York City Mayor Eric Adams made a similar point during a press conference on Monday. So wait, did someone really throw a pizza at City Hall in protest of the proposed rule?

Persons: pizzerias, Sen, Marsha Blackburn, ” Dave Portnoy, Elon Musk, Michael Berman, Photodisc, “, Edward “ Ted ”, Michael Seilback, Pizza's, Artem Vorobiev, ”, Garima, Seilback, Eric Adams, wouldn’t, Adams Organizations: New, New York CNN — Lawmakers, Tennessee, Barstool Sports, Twitter, City Hall, City, city’s Department of Environmental, CNN, New York City Department of Environmental, Edward “ Ted ” Timbers, NYC Department of Environmental, American Lung Association, Getty, Columbia University, New York City Locations: New York, New York City, York City

☆ Matt Fitzpatrick criticizes US Open's Los Angeles course and 'very poor' atmosphere
▼ + stars: | 2023-06-18 | by ( Jack Bantock | ) edition.cnn.com time to read: +5 min

Yet not everyone has given the host glowing reviews, including the major’s reigning champion Matt Fitzpatrick. And following Saturday’s third round, Fitzpatrick – whose hopes of becoming the first player to defend the US Open title since Brooks Koepka look slim – again spoke about the quality of the course and the atmosphere. Fitzpatrick added: “I’ve seen Brooks’ comments and I tend to agree with what he feels like that about this golf course. Yet firmer greens and fairways brought fresh criticisms of the course, and atmosphere, from Fitzpatrick on Saturday. “Very poor … It’s disappointing on the USGA side,” said Fitzpatrick of the atmosphere, according to Barstool Sports journalist Dan Rapaport.

Persons: Matt Fitzpatrick, England’s Fitzpatrick, ”, Fitzpatrick –, Brooks, I’d, Koepka, Fitzpatrick, “ I’m, ” Koepka, I’ve, Brooks ’, you’ve, “, ” Fitzpatrick, Matt York, Padraig Harrington, ” Harrington, ” Brooks, Scottie Scheffler, ” Scheffler, Rickie Fowler, Xander Schauffele, Dan Rapaport, Collin Morikawa, Tom Kim, ” Kim, can’t Organizations: CNN, Los Angeles Country Club, Sky Sports, ESPN, United States Golf Association, USGA, Barstool Sports, Los Locations: American, LA, Los Angeles, Korean

☆ Betting expert talks how to make the most of the upcoming NBA and NHL finals
▼ + stars: | 2023-06-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBetting expert talks how to make the most of the upcoming NBA and NHL finalsKelly Stewart, Barstool Sports betting analyst, joins 'Last Call' to discuss how to make the most out of your money in the upcoming NHL and NBA finals.

Persons: Kelly Stewart Organizations: NBA, NHL, Barstool Sports

☆ How an OnlyFans creator built a 7-figure business and boosted her career by appearing on podcasts
▼ + stars: | 2023-02-23 | by ( Marta Biino | ) www.businessinsider.com time to read: +3 min

Amber Sweetheart has made more than $2 million as an OnlyFans adult-content creator. She said she grew her subscriber base by appearing on OnlyFans-themed podcasts. Unlike platforms like TikTok and Instagram, OnlyFans lacks an algorithm that allows users to discover accounts within the platform. Amber Sweetheart, a Swedish creator and self-styled "Queen of Sexting," said that promoting her two accounts "has taken over my life." Sweetheart has made almost $2.6 million from her profiles since she started posting on OnlyFans in late 2020.

☆ An estimated $16 billion worth of bets will be placed on the Super Bowl
▼ + stars: | 2023-02-12 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +5 min

New York CNN —With more states legalizing gambling on sports, Super Bowl LVII will probably be the biggest event for the industry ever. But how will casino and online/mobile sports betting companies stand out in an increasingly crowded field? “We have prepared for this Super Bowl like never before,” Greenblatt said. That’s more than double the number of wagers on last year’s Super Bowl. That’s different from 2021 when customer growth was being rewarded.”That being said, both DraftKings and FanDuel still plan to advertise during this year’s Super Bowl.

☆ Joe Rogan said 'the morons had a king' with Donald Trump during a podcast episode
▼ + stars: | 2023-01-07 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +3 min

Joe Rogan said that "the morons had a king" with former President Donald Trump. Rogan has previously been dismissive of the former president despite Trump's positive words about him. Rogan commented on a Thursday episode of the Joe Rogan Experience podcast while speaking to Barstool Sports founder Dave Portnoy about politics. There's a lot of morons," Rogan said. Trump has previously spoken positively of Rogan, calling him an "interesting and popular guy" and defending him following controversy about the podcast host's past use of the N-word.

As recently as August, Lachlan Murdoch described sports betting as "a huge opportunity" for Fox Sports, telling Wall Street it would fuel viewer engagement. The sports betting app Fox Bet is available in four states, with just 0.2% share of the U.S. market, according to researcher Vixio. A free version called Fox Bet Super 6 has attracted some 6 million users whom Fox hopes to eventually convert to gamblers. The growth of Fox Bet has stagnated since market-leading FanDuel's owner, Flutter Entertainment Plc (FLTRF.L), acquired Stars Group in 2020. The matter is the subject of an arbitration case and Lachlan Murdoch told investors a decision is expected imminently.

☆ Sports betting salaries: Pay data reveal how much DraftKings, FanDuel, and other companies offer employees for tech and other jobs
▼ + stars: | 2022-10-18 | by ( Colin Salao | Ashley Rodriguez | ) www.businessinsider.com time to read: +10 min

The data are limited to base salaries and US-based jobs for visa-seeking employees. Still, sports betting is as much about sports as it is gambling and tech — growing industries known for high-paying jobs. The data included five US sports betting companies: BetMGM, DraftKings, FanDuel, Penn Interactive, and Rush Street Interactive. It included salaries for jobs such as a data engineer at DraftKings that would make $97,000 per year or more and a sports trading senior manager at FanDuel that would earn $130,000. A FanDuel software engineer based in New York would make $128,440, which is in the range of what TikTok has offered software engineers, the data shows.

Organizations: & $, & $

☆ How political candidates are targeting you on social media based on your music tastes, shopping habits and favorite TV shows
▼ + stars: | 2022-09-23 | by ( Casey Tolan | ) edition.cnn.com time to read: +11 min

(CNN) Marco Rubio hopes to sway voters interested in Chick-fil-A, Ram trucks, and Duck Dynasty. "Political campaigns are using that to their advantage." Rogan, a controversial figure who's popular on the right, attracted more attention from campaigns targeting Facebook ads than any other interest topic in the period analyzed by CNN. The targeting data shows a wide variety of approaches. But most people likely have no idea that they're seeing certain political ads because of their interests in a band or TV show, Woolley noted.

☆ How sports betting is changing the media industry in the US
▼ + stars: | 2022-09-07 | by ( Ashley Rodriguez | Colin Salao | ) www.businessinsider.com time to read: +3 min

The ties between media outlets and gambling operators have only deepened since. Read more about how FuboTV is rethinking its sports betting strategy after August layoffs. On top of that, the US sports gambling industry is still in its infancy. New York turned on mobile sports betting in January, which could be a boon for the media industry even though the market could be tricky for gambling companies. A list of our recent coverage of the US sports betting industry follows.

☆ How college athletes are getting paid from brand sponsorships as NIL marketing takes off
▼ + stars: | 2021-10-16 | by ( Dan Whateley | Colin Salao | ) www.businessinsider.com time to read: +13 min

In addition to brand deals, student-athletes have run branded training clinics and have been paid for appearances and autograph signings. Read about how much an FCS national champion who thought he would 'strike gold' with NIL deals actually earnedLike Sproles, Amherst College wide receiver Jack Betts thought he would profit significantly from the NIL deals, but quickly realized that it wouldn't be easy for a Division III athlete. However, by pitching himself to brands, Betts has been able to secure 35 NIL deals in 2022 alone. Some colleges and universities have developed policies to stop student-athletes from making brand deals that would interfere with their own lucrative sponsorship contracts. Here's Insider's list of 13 top companies helping student-athletes make money and shaping the future of NIL marketing

☆ Millennial day-traders are putting Wall Street to shame as investors bank on a V-shaped recovery
▼ + stars: | 2020-06-16 | by ( Business Insider | ) www.businessinsider.com time to read: +7 min

Rich Fury/GettyDear Readers,A strange dynamic is afoot in the stock market. The institutional heavyweights on Wall Street are being beaten at their own game by upstart day-traders and retail investors — and it's not been particularly close. Peter Cecchini, the former global chief market strategist at Cantor Fitzgerald, also recently weighed in on the retail-investor phenomenon. Put simply, Main Street is putting Wall Street to shame since late March. — Peter Cecchini, former global chief market strategist at Cantor Fitzgerald, commenting on Barstool Sports founder Dave Portnoy's irreverent day-trading exploits

Search resuls for: "Barstool Sports"

25 mentions found