bar•stool (bär′sto̅o̅l′), n. Furniturea stool or seat, usually high and having a round, cushioned top, of a type often used for seating customers at a bar.

It will come as no surprise that the initial use for bar stools comes from where their name originates. Used to seat customers around the bar in a pub or diner setting, they saved on space by catering to single patrons who would otherwise take up a table on their own.

Bar stools are a type of tall stool, often with a foot rest to support the feet. The height and narrowness of bar stools make them suitable for use at bars and high tables in pubs or bars. Before Prohibition in the United States, bar stools were not used in drinking establishments, but in food establishments.

A press release published Tuesday said that Penn sold 100% of the Barstool's common stock back to Portnoy "in exchange for certain non-compete and other restrictive covenants." A subsequent filing said the sale price to Portnoy was $1.