{"id":171870,"date":"2021-04-26T10:21:50","date_gmt":"2021-04-26T17:21:50","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=171870"},"modified":"2021-04-26T13:23:48","modified_gmt":"2021-04-26T20:23:48","slug":"portnoy-selling-nft-could-spark-interest-in-barstool-sportsbook","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/portnoy-selling-nft-could-spark-interest-in-barstool-sportsbook\/","title":{"rendered":"Penn National Gaming Leveraging Barstool, Portnoy to Join NFT Craze"},"content":{"rendered":"

Penn National Gaming (NASDAQ:PENN) is finding unique ways to capitalize on its stake in Barstool Sports.<\/i> It is now entering the hot non-fungible token (NFT) space with an image of the media company’s founder, David Portnoy.<\/p>\n

\"Portnoy
Barstool Sports<\/em> founder David Portnoy pictured at an event above. He’s selling an NFT to drum up interest in Barstool Sportsbook. (Image: Variety<\/em>)<\/figcaption><\/figure>\n

The brash, ubiquitous Portnoy, famed for his reviews of local pizzerias<\/a>, is the centerpiece of the NFT called \u201cOne Bite Pizza Review of Blocks Pizza Deli (Miami) — Featuring Guy With No Arms.\u201d<\/p>\n

\u201cDave reviews Blocks Pizza in Miami and honors Kobe Bryant while a guy with no arms passes by. This NFT is limited to just one edition and will never be minted again,\u201d according to Barstool<\/i>.<\/p>\n

\"portnoy
The non-fungible token featuring Barstool Sports<\/em> founder David Portnoy that’s up for auction. (Image: Barstool Sports<\/em>)<\/figcaption><\/figure>\n

At this writing, the high bid on the token is $6,523.39<\/a>, up from $2,620 just a few hours ago.<\/p>\n

Barstool Sportsbook Angle<\/h2>\n

Barstool Sportsbook is a centerpiece<\/a> of Penn National’s growth strategy, and there are some ties between the burgeoning online sports betting unit and the NFT auction.<\/p>\n

\n

Not only will the winning bidder procure the aforementioned token, that person will also get the opportunity to watch a game with Portnoy. During that event, the Barstool <\/i>boss will put a bet on the game equivalent in size to the top bid on the NFT. If the wager wins, Portnoy \u201cwill refund the winning bid to the winning bidder,\u201d according to Barstool<\/i>.<\/p>\n<\/div>\n

Portnoy holds no official executive position at Penn National Gaming. But in investment circles, he’s often seen as the face of the company<\/a>. Blunt and controversial, he’s been a consistent cheerleader for Penn stock, criticizing analysts that dare be bearish on the shares. He’s also essential to Penn’s personality-based model for Barstool Sportsbook — one that helps the gaming company cobble together market share without the significant customer acquisition costs faced by rival operators.<\/p>\n

Barstool Pivotal to Penn Outlook<\/h2>\n

Last week, Moody’s Investors Service raised its outlook on Penn’s B1 credit rating to \u201cstable\u201d from \u201cnegative\u201d, noting Barstool Sportsbook is part of the reason for that positive change.<\/p>\n

\u201cPositive consideration is also given to Penn’s minority ownership in, and relationship with, Barstool Sports, Inc., a digital sports media company, which Moody’s believes will enable the company to benefit in the retail and online gaming and sports betting markets,\u201d said the research firm.<\/p>\n

The mobile betting app is live in Illinois, Michigan, and Pennsylvania, with Penn targeting Indiana and New Jersey as the next states it will bring the wagering platform to. It’s expected Barstool Sportsbook will be live in 10 states by the start of the 2021 NFL season.<\/p>\n

\n

What’s an NFT?<\/h2>\n

A non-fungible token (NFT) is a unit of data stored on the blockchain. NFTs can be applied to a variety of digitized items, such as audio and video files as well as pictures.<\/p>\n<\/div>\n

Driven in large part by scarcity, NFTs recently became an investable asset class, with one produced by the artist known as Beeple selling for more than $69.3 million<\/a> at a Christie’s auction.<\/strong><\/p>\n

That’s, by far, the highest price paid to date for an NFT. But others have stretched into the millions of dollars. For example, a buyer paid $2.9 million in March for the first tweet sent by Twitter founder and CEO Jack Dorsey.<\/p>\n

Other well-known companies getting in on the NFT craze include Playboy and baseball card giant Topps.<\/p>\n","protected":false},"excerpt":{"rendered":"

Penn National Gaming (NASDAQ:PENN) is finding unique ways to capitalize on its stake in Barstool Sports. It is now entering the hot non-fungible token (NFT) space with an image of the media company’s founder, David Portnoy. The brash, ubiquitous Portnoy, famed for his reviews of local pizzerias, is the centerpiece of the NFT called \u201cOne […]<\/p>\n","protected":false},"author":46,"featured_media":171871,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[24066,1074],"tags":[],"acf":[],"yoast_head":"\nPortnoy Selling NFT, Could Spark Interest in Barstool Sportsbook<\/title>\n<meta name=\"description\" content=\"Penn National Gaming now has NFT exposure as Portnoy pushes token to spark interest in Barstool sportsbook.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/portnoy-selling-nft-could-spark-interest-in-barstool-sportsbook\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Portnoy Selling NFT, Could Spark Interest in Barstool Sportsbook\" \/>\n<meta property=\"og:description\" content=\"Penn National Gaming now has NFT exposure as Portnoy pushes token to spark interest in Barstool sportsbook.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/portnoy-selling-nft-could-spark-interest-in-barstool-sportsbook\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-26T17:21:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-04-26T20:23:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/DP.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1403\" \/>\n\t<meta property=\"og:image:height\" content=\"789\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/portnoy-selling-nft-could-spark-interest-in-barstool-sportsbook\/\",\"url\":\"https:\/\/www.casino.org\/news\/portnoy-selling-nft-could-spark-interest-in-barstool-sportsbook\/\",\"name\":\"Portnoy Selling NFT, Could Spark Interest in Barstool Sportsbook\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/portnoy-selling-nft-could-spark-interest-in-barstool-sportsbook\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/portnoy-selling-nft-could-spark-interest-in-barstool-sportsbook\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/DP.jpg\",\"datePublished\":\"2021-04-26T17:21:50+00:00\",\"dateModified\":\"2021-04-26T20:23:48+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Penn National Gaming now has NFT exposure as Portnoy pushes token to spark interest in Barstool sportsbook.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/portnoy-selling-nft-could-spark-interest-in-barstool-sportsbook\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/portnoy-selling-nft-could-spark-interest-in-barstool-sportsbook\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/portnoy-selling-nft-could-spark-interest-in-barstool-sportsbook\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/DP.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/DP.jpg\",\"width\":1403,\"height\":789,\"caption\":\"Barstool Sports founder David Portnoy. He's selling an NFT to drum up interest in Barstool Sportsbook. (Image: Variety)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/portnoy-selling-nft-could-spark-interest-in-barstool-sportsbook\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Sports Betting\",\"item\":\"https:\/\/www.casino.org\/news\/sportsbetting\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Penn National Gaming Leveraging Barstool, Portnoy to Join NFT Craze\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\",\"name\":\"Todd Shriber\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"caption\":\"Todd Shriber\"},\"description\":\"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/todd-shriber\",\"https:\/\/www.linkedin.com\/in\/toddshriber\/\",\"https:\/\/x.com\/etfgodfather\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/todd-shriber\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Portnoy Selling NFT, Could Spark Interest in Barstool Sportsbook","description":"Penn National Gaming now has NFT exposure as Portnoy pushes token to spark interest in Barstool sportsbook.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.casino.org\/news\/portnoy-selling-nft-could-spark-interest-in-barstool-sportsbook\/","og_locale":"en_US","og_type":"article","og_title":"Portnoy Selling NFT, Could Spark Interest in Barstool Sportsbook","og_description":"Penn National Gaming now has NFT exposure as Portnoy pushes token to spark interest in Barstool sportsbook.","og_url":"https:\/\/www.casino.org\/news\/portnoy-selling-nft-could-spark-interest-in-barstool-sportsbook\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2021-04-26T17:21:50+00:00","article_modified_time":"2021-04-26T20:23:48+00:00","og_image":[{"width":1403,"height":789,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/DP.jpg","type":"image\/jpeg"}],"author":"Todd Shriber","twitter_card":"summary_large_image","twitter_creator":"@etfgodfather","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Todd Shriber","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/portnoy-selling-nft-could-spark-interest-in-barstool-sportsbook\/","url":"https:\/\/www.casino.org\/news\/portnoy-selling-nft-could-spark-interest-in-barstool-sportsbook\/","name":"Portnoy Selling NFT, Could Spark Interest in Barstool Sportsbook","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/portnoy-selling-nft-could-spark-interest-in-barstool-sportsbook\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/portnoy-selling-nft-could-spark-interest-in-barstool-sportsbook\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/DP.jpg","datePublished":"2021-04-26T17:21:50+00:00","dateModified":"2021-04-26T20:23:48+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85"},"description":"Penn National Gaming now has NFT exposure as Portnoy pushes token to spark interest in Barstool sportsbook.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/portnoy-selling-nft-could-spark-interest-in-barstool-sportsbook\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/portnoy-selling-nft-could-spark-interest-in-barstool-sportsbook\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/portnoy-selling-nft-could-spark-interest-in-barstool-sportsbook\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/DP.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/04\/DP.jpg","width":1403,"height":789,"caption":"Barstool Sports founder David Portnoy. He's selling an NFT to drum up interest in Barstool Sportsbook. (Image: Variety)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/portnoy-selling-nft-could-spark-interest-in-barstool-sportsbook\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Sports Betting","item":"https:\/\/www.casino.org\/news\/sportsbetting\/"},{"@type":"ListItem","position":3,"name":"Penn National Gaming Leveraging Barstool, Portnoy to Join NFT Craze"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85","name":"Todd Shriber","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","caption":"Todd Shriber"},"description":"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.","sameAs":["https:\/\/muckrack.com\/todd-shriber","https:\/\/www.linkedin.com\/in\/toddshriber\/","https:\/\/x.com\/etfgodfather"],"url":"https:\/\/www.casino.org\/news\/author\/todd-shriber\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/171870"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=171870"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/171870\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/171871"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=171870"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=171870"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=171870"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}