Barstool Sports founder Dave Portnoy has been raising money to support struggling small businesses impacted by the COVID-19 pandemic. A casino company is set to seriously increase the amount of money raised for The Barstool Fund.
About The Barstool Fund: The Barstool Fund has raised $29.1 million at publication time. Donations have come in from over 198,000 supporters, including athletes and key business people. The donations have helped support at least 161 small businesses.
Tom Brady pledged to support the fund with $100,000 back in December. Former NFL punter Pat McAfee donated $200,000. Kid Rock chipped in $100,000 in January to help the efforts. Other people who have donated include UFC President Dana White, the Winklevoss Twins, Tesla Inc TSLA CEO Elon Musk and the New England Patriots.
Green Bay Packers quarterback Aaron Rodgers donated $500,000 and was able to surprise a burger joint from his hometown of Chino, California with news they would be supported by The Barstool Fund.
Portnoy has utilized the Barstool Sports brand and network of followers to help support the fund and the small businesses. This includes exclusive merchandise like Billt Different-themed gear supporting the Buffalo Bills with proceeds going to the fund.
How Penn National Will Help: Penn National Gaming PENN, which owns a big stake in Barstool Sports, is helping increase the funding for The Barstool Fund.
With the Barstool Sportsbook betting app officially launching in Michigan on Friday, Penn National is matching first-time deposits that are made and bet on the app from this past Wednesday through Sunday and turning them into donations.
Penn National will donate the total amount to the fund to show their support for the organization.
“As long as you bet it, they’re going to match it,” Portnoy said in a video.
PENN Price Action: Shares of Penn National Gaming closed Friday up 2% to $109.41.
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