ESPN and PENN Entertainment Announce New Sportsbook Partnership

ESPN and PENN Entertainment Announce New Sportsbook Partnership

The deal will allow ESPN to reach deeper into the sports betting market. The sports media giant has increased their gambling content over the years since sports betting became legal in most U.S. states. They will now loo to increase product integrations with the ESPN BET sportsbook app in both the digital content and traditional media verticals. Per the press release, ESPN will also have increased talent access to, and integration with the re-branded sportsbook app.

ESPN Chairman Jimmy Pitaro stated that the goal of the merger is about serving sports fans. Pitaro said that “the strategy here is simple: give fans what they’ve been requesting and expecting from ESPN. PENN Entertainment is the perfect partner to build an unmatched experience for sports betting with ESPN BET.”

PENN’s CEO, Jay Snowden also expressed excitement about the agreement, saying that it “…allows us to take another step forqward as an industry leader…”

The two companies were quick to note that they are committed to responsible gaming. The press release noted that ESPN will not only have safeguards and promotion of responsible gaming issues, but that it would also maintain its commitment to “high standard journalistic integrity when covering the sports betting space.”

Barstool Sports’ CEO Dave Portnoy expressed his gratitue to PENN Entertainment in an “emergency” video posted to his Twitter . the content creator and CEO of Barstool Sports stated that he bought his company out of the deal with PENN Entertainment, but has nothing but well wished for them and ESPN. He will continue to hold shares in PENN and is excited about the company’s stock and future success.

Emergency Press Conference – I Bought Back Barstool Sports pic.twitter.com/dmUk0eNowx

— Dave Portnoy (@stoolpresidente) August 8, 2023

Now that the deal between PENN Entertainment and ESPN is in place, it likely won’t be long before the re-brand takes place. With the 2023 NFL season approaching, both companies are highly incentivized to get the app and website started and begin integrating content and analysis from ESPN personnialities and across their various media properties.

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