The boss of playing large Penn National griped over the timing of an article that detailed new allegations of sexual misconduct in opposition to Barstool’s Dave Portnoy – noting that it was revealed simply hours before the company reported quarterly earnings.
Chief Executive Jay Snowden came out swinging initially of Penn’s fourth-quarter earnings name, noting that Business Insider revealed a narrative on the allegations in opposition to Portnoy for the second consecutive quarter.
Business Insider’s report Wednesday night time detailed claims from three ladies, whose identities have been protected, who accused Portnoy of sexual misconduct and tough intercourse that turned humiliating, together with filming with out their consent. One girl alleged that Portnoy broke her rib throughout a sexual encounter. Portnoy has strongly denied wrongdoing.
“Before I get into prepared remarks, I first wanted to address the article about Dave Portnoy that dropped last night from the same paywall, subscription-based publisher as the last article and which also happened to be on same day as our earnings call exactly three months ago,” Snowden stated.
“The allegations are from anonymous sources made about Dave in his personal life and Dave has responded publicly – many of you have probably seen that – just as he did last time,” Snowden stated.
The Penn National CEO requested for the general public to view Portnoy’s response alongside the article before coming to any conclusions. He requested analysts to maintain the earnings name targeted on Penn’s outcomes.
Snowden additionally acknowledged that extra allegations in opposition to Portnoy might floor, noting there would “undoubtedly will be more to come in the coming days, just as what transpired three months ago.”
A Business Insider spokesperson flatly denied the timing was on function.
“Of course we did not time our story around their earnings,” the spokesperson advised the Post.
Penn National holds a 36% stake in Barstool Sports. The on line casino company has leaned closely into the Barstool’s controversial but widespread model – and Portnoy’s superstar – to drive its sports activities betting operation.
Last November, Penn National shares plummeted after a lukewarm earnings report and the publication of one other Business Insider report wherein three ladies alleged that they had sexual encounters with Portnoy that “turned into frightening and humiliating experiences.”
The Barstool founder has denied all the allegations and stated he intends to sue Business Insider after its newest piece.
On Wednesday night time, Portnoy accused Business Insider and its CEO Henry Blodget of timing the tales to break Penn.
“$Penn earnings tomorrow. Another make belief hit piece on me. Can my boy @hblodget be more predictable. Wall Street won’t fall for their lies twice in a row. They can’t be more transparent. #cancelbusinessinsder And yes I have the receipts per usual,” Portnoy tweeted.
Penn National shares have been flat in noon buying and selling Thursday. The gaming operator topped Wall Street’s expectations for quarterly income, however missed on earnings.