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Barstool Fund for Restaurants and Small Businesses


bearprowler6
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Not sure how many of you are aware of the fund established by Dave Portnoy of Barstool Sports (now owned by Penn National Gaming) to help out restaurants and other small businesses who have been crushed by the pandemic.

 

Portnoy seeded the fund with $500,000 of his own money and in the 10 days since the fund has been up and running he has raised over $10.5 million and provided a much needed financial lifeline to 45 businesses from across the country.

 

To date he has received submissions for assistance from over 10,000 small businesses.

 

The video submissions that have been selected by Portnoy and his team to receive assistance from the Barstool Fund can be viewed here along with the video that Portnoy recorded of himself explaining what he is hoping to achieve with this effort:

 

https://www.barstoolsports.com/the-barstool-fund

 

Portnoy also records the reactions of those selected when he connects with them to let them know that they will receive support from the Fund. The reactions of the various business owners can be viewed here:

 

https://www.barstoolsports.com/topics/barstool-fund

 

Portnoy is an interesting character. Love him or hate him...very few can question the amazing work he is doing with the Barstool Fund. I have contributed to the fund and if you are able I would ask that you consider doing the same. Together we can help save small business one at a time:

 

https://www.barstoolsports.com/the-barstool-fund

 

 

 

 

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Up to $17M. Keep it going. Cant understate the importance of small businesses and keeping them alive, they provide jobs and a livelihood to many vs just some stupid stimulus check to individuals that likely gets wasted on discretionary crap and iPhones/sneakers.

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Update: The Barstool Fund has now raised more than $18.7 million and provided financial assistance/lifelines to 79 small businesses from across the country.

 

The Fund and the efforts of Portnoy and the whole team at Barstools was covered this morning in a segment on The Today Show:

 

https://www.barstoolsports.com/blog/3226614/thank-you-to-the-today-show-for-covering-the-barstool-fund

 

I would encourage each of you to watch the videos submitted by the small businesses that have been helped by the Barstool Fund to date and then to contribute to this very worthwhile cause so that more small businesses can be supported:

 

https://www.barstoolsports.com/the-barstool-fund

 

 

How does this all relate to a value investing board? The Barstool Fund was created by Dave Portnoy and his team at Barstools Sports which is owned by Penn National Gaming (PENN on the Nasdaq). It has been a winning ride for PENN shareholders over the last several months and with today's announcement out of New York State it seems that PENN will likely continue its winning ways for some time to come.

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