Penn National Gaming’s stock price suffered a dramatic drop yesterday after accusations of sexual impropriety were leveled against Barstool Sports founder and CEO Dave Portnoy.
The stock fell by 21%, taking $2.7bn off of Penn National’s market value. The precipitous decline came hours after the group reported 34% revenue growth for the recently concluded third quarter.
The accusations were first reported in a Business Insider article by Julia Black who, after eight months of research, brought to light the stories of two women who, on separate occasions, claim to have been subjected to immoderately rough sex at the hands of Portnoy at his residence on Nantucket. These supposed instances included non-consensual videotaping, forceful choking, and other forms of egregiously aggressive behavior.
The women, who have not been identified, claim to have become depressed and suicidal as a result of the experience.
Portnoy has adamantly denied the claims.
In a wide-ranging defense video posted on YouTube, he claimed that he is a victim of cancel culture after his support for Donald Trump and his frequent guest spots on Tucker Carlson Tonight incurred the enmity of many.
Among his defense remarks were the following: “People hate me because I interviewed Trump and I go on Tucker Carlson. The woke cancel culture wants to cancel me. This is the next escalation... I know I’ve never done anything weird with a girl ever. I’ve never done anything remotely non-consensual... If she’s depressed because she hooked up with me, that’s awful.”
Portnoy is no stranger to controversy. He has been arrested twice, for instance, in separate NFL-related controversies, including once when he handcuffed himself to the lobby of the league’s headquarters to protest Deflategate.
