The Barstool Fund supports small businesses that are struggling during state-ordered COVID-19 restrictions. Barstool Sports founder Dave Portnoy launched the fund in December with $500,000 of his own money.<\/p>\n
Penn National acquired a 36 percent stake in Portnoy’s Barstool Sports just prior to the pandemic. The Pennsylvania-based casino operator paid $163 million in January of 2020 for its Barstool position.<\/p>\n
\nAlready, over $18 million has been raised to provide ongoing support,”<\/strong> Eric Schippers, Penn National’s senior VP of public affairs and government relations, told Casino.org<\/i>.<\/p>\n<\/blockquote>\nAs of this writing, the Barstool Fund has raised more than $18.4 million from 145,233 supporters. Seventy-six businesses have been provided with essential funds.<\/p>\n
Small Business Bailouts<\/b><\/h2>\n
Dave Portnoy has been an outspoken critic of certain COVID-19 lockdowns and state orders that have caused otherwise profitable businesses to risk closure.<\/p>\n
“I’ve been ranting and raving about the plight of small businesses. How do you expect these people to survive?” Portnoy asked during the launch of the fund last month. “Nobody seems to care in the government. No plan, no relief, no bailout.”<\/p>\n
Portnoy established the fund to help businesses in need. His celebrity has ushered in more donations.<\/p>\n
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To qualify for relief through the Barstool Fund, small businesses must continue paying their employees during reduced or closed operations. Businesses must inform the Barstool Fund of what they need to survive another month. Once approved, businesses can receive additional money to make sure a one-time relief payment isn’t for nothing.<\/p>\n<\/div>\n
Many more businesses will receive distributions with Penn National’s $1 million donations.<\/p>\n