Penn Launches Military Scholarship
Roll call: prominent sports betting operator Penn Entertainment has announced that it will be launching a military scholarship at Penn State Berks in Berks County – a commonwealth campus of Penn State University. The scholarship will be funded thanks to a multi-year $50,000 spend, which the provider claims will go towards supporting the Berks County community.
Sports betting operator Penn Entertainment has revealed that it will be offering a $50,000 military scholarship at Penn State Berks in Berks County – a commonwealth campus of Penn State University.
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Scholarship Will Be Available to Veterans, Active Duty Reservists and National Guard Members
Ten-hut! The US-based gaming and sports betting provider Penn Entertainment has issued orders announcing that it is establishing a military scholarship at a commonwealth campus part of the Penn State University system, known as Penn State Berks.
Endowing the scholarship will be an impressive multi-year $50,000 spend, which the operator is positioning as being intended to support the local Berks County community, which also happens to be where Penn’s corporate headquarters are situated. The business further clarified that the scholarship falls in line with Penn’s continued commitment to supporting veterans and active-duty military.
The details are as follows: the scholarship stands as available to veterans, activity duty reservists or National Guard members who can prove they are in financial need. As of writing, upwards of 50 student veterans are enrolled at the Penn State Berks campus. The scholarship will be handed out for one academic year, but there is an option for renewal if the person in question continues to meet the eligibility criteria and, of course, provided that sufficient money is still available.
Berks County is Home of Penn Entertainment; Upwards of 50 Student Veterans Study at Penn State Berks
Celebrating the occasion of Penn Entertainment’s military scholarship launch was Penn senior vice president of public affairs Eric Schippers, who in a shared statement emphasized the operator’s excitement at being able to partner with Penn State Berks, before driving home the company’s devotion to US veterans:
“We are thrilled to partner with Penn State Berks on the creation of this scholarship, which further strengthens our support for the military and our local community. Penn is passionate about honoring and empowering our nation’s heroes and this scholarship adds to our overall military recruitment and recognition efforts.” – Eric Schippers, Senior Vice President of Public Affairs, Penn Entertainment, Press Release
Meanwhile, interim chancellor at Penn State Berks Todd Migliaccio stressed the significance of initiatives such as the Penn Entertainment military scholarship in supporting the institution’s students, helping them feel like valued members on campus and in the wider local community:
“Opportunities like the Penn Entertainment military scholarship are important, not only to financially support our student veterans so they can focus on their academic successes, but also to let them know that they are important members of the Penn State Berks campus community.” – Todd Migliaccio, Interim Chancellor, Penn State Berks,Press Release
Penn Entertainment Took Over Barstool Sports in February 2023
In other recent Penn Entertainment news, the omni-channel-focused gaming provider completed its relatively drawn out acquisition of media business and infamous podcast platform Barstool Sports just recently in February 2023.
The genesis of the deal dates all the way back to February 2020, when Penn put forth a 36% stake in Barstool. To complete the acquisition, Penn had to hand over an additional $388 million for the remaining stake in the media empire. The provider first revealed its interest in taking over the remaining stake of the company in August 2022.
Penn Entertainment CEO and President, Jay Snowden, was naturally over the moon to be bringing such a powerful name and brand into the Penn family, emphasizing in particular the brand’s recognizable name, though particularly its passionate fanbase, as big driving reasons behind the company choosing to pursue the deal.
In a shared statement, Snowden praised Barstool a little further, before making sure to mention that the media and podcast company will now be able to showcase more flexible operations thanks to the technological capabilities Penn Entertainment will now endow it with:
“We are extremely pleased to welcome Barstool Sports fully into the PENN Entertainment family. Barstool is a proven, powerful media brand with an authentic voice and vast, loyal audience that provides us with a strong top of funnel for new customer acquisition and organic cross-selling opportunities across our growing interactive division. Barstool, combined with theScore’s reach and highly engaged user base, creates a massive digital footprint and ecosystem that will serve to propel Barstool Sportsbook and our uniquely integrated media and gaming business. Further, the Barstool Sportsbook will greatly benefit from the upcoming migration to our proprietary technology stack, a move that will significantly enhance the overall product offering and deliver meaningful upside.” – Jay Snowden, Chief Executive Officer (CEO) and President, Penn Entertainment, Press Release
Former Penn Entertainment Worker Charged with Insider Trading Back in June 2022
Some less flattering news for Penn Entertainment arrived all the way back in June 2022, when a former employee who served as Director of Backend Architecture at the operator’s iGaming division (known as Penn Interactive) was charged with insider trading by the United States Attorney for the Eastern District of Pennsylvania.
The former worker, David Roda, became privy to the information that in early July 2021 that Penn National was considering a potential acquisition of Score Media and Gaming, Inc. Though he should have kept this information confidential, Roda still used the information to purchase 200 Score Media call option contracts for approximately $13,000 that very same month.
In the wake of Roda’s arrest, Jacqueline Maguire, Special Agent in charge of the FBI’s Philadelphia Division, reminded the general public that the punishment for insider trading is indeed very severe:
“David Roda allegedly traded on material, non-public information and made out like a bandit. Insider trading like that is patently unfair to investors and a direct threat to the integrity of our financial markets. The FBI takes this crime seriously, and if you decide the risk of such illegal behavior is worth the potential reward, know that we will investigate and ensure you’re held accountable.”
