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Dave Portnoy has regained ownership of Barstool Sports, three-and-a-half years after selling the media and entertainment group to casino operator Penn Gaming.
The big picture: Portnoy made a big bet with Penn, and it paid off better than he could have imagined.
ESPN on Tuesday announced a betting joint venture with casino operator PENN Entertainment, which soon will rebrand its Barstool Sportsbook to ESPN Bet.
Why it matters: This is the sports network's first major gambling deal, and comes after Fox closed down its own sportsbook.
