ESPN and PENN Entertainment Join Forces for Groundbreaking Sports Betting Venture
TL;DR Summary
ESPN has signed a $2 billion deal with casino owner Penn Entertainment to launch ESPN Bet, a branded sportsbook, in the 16 states where Penn has sports betting licenses. The deal includes cash payments, warrants, and rights to the ESPN brand for 10 years. ESPN programs will promote the service, and some ESPN talent will be involved. In connection with the deal, Penn will sell Barstool Sports, which it acquired in 2020.
- ESPN-Branded Sportsbook Launching In Deal With Penn Entertainment Hollywood Reporter
- ESPN to Launch ESPN BET in a New Agreement with PENN Entertainment ESPN Press Room
- PENN Entertainment and ESPN Enter into Long-Term Exclusive Strategic Alliance for U.S. Online Sports Betting Yahoo Finance
- Penn Entertainment Stock Surges After ESPN Partnership, Barstool Sports Sale to Dave Portnoy The Wall Street Journal
- ESPN Shoves Barstool Aside to Strike Sports Betting Pact Variety
- View Full Coverage on Google News
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