ESPN and PENN Entertainment are in agreement to re-brand PENN’s sportsbook as ESPN BET. The deal, which was announced on Tuesday, will be implemented this Fall. The re-brand could occur prior to the start of the 2023 NFL Season. It will include ESPN BET branding on PENN Entertainment’s mobile sportsbook app and website. PENN’s previous branding was Barstool Sports, who have bought out their contract to end the partnership.
ESPN and PENN Entertainment Announce New Sportsbook Partnership
The partnership between PENN Entertainment and ESPN was announced in a press release on Tuesday and shared via ESPN PR’s Twitter account.
ESPN has entered an agreement with @PENNEntertain to launch ESPN BET, a branded sportsbook in the U.S.
ESPN BET will be available for fans this fall
Details: https://t.co/evaUbfn5Nh pic.twitter.com/UqIkME4Lyk
— ESPN PR (@ESPNPR) August 8, 2023
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 user 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 account. 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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