ESPN reaches $1.5 billion sports betting agreement with PENN
PENN Entertainment announced it formed a partnership with ESPN to create the ESPN Bet app this fall as legalized sports gambling continues to expand throughout the U.S.
PENN said it will make $1.5 billion in cash payments to ESPN throughout the next 10 years. With the announcement, PENN said it is divesting Barstool Sports to founder David Portnoy. PENN's agreement with Portnoy requires certain non-compete restrictions. Penn also can claim 50% of gross proceeds in"any subsequent sale or other monetization event of Barstool."
"This transformative, exclusive agreement with ESPN marks another major milestone in PENN’s evolution from a pure-play U.S. regional gaming operator to a North American entertainment leader," said Jay Snowden, CEO of PENN."ESPN Bet will be deeply integrated with ESPN’s broad editorial, content, digital and linear product, and sports programming ecosystem."ESPN currently has broadcast agreements with the NHL, NBA, MLB and NFL.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
ESPN BET to Launch This Fall; Barstool Bought Back from PENN EntertainmentESPN announced the upcoming launch of ESPN BET, their own branded sportsbook, this fall. With the rise of legalized gambling, sports media, including ESPN, has been focusing more on sports betting.
Leer más »
Penn Entertainment's Barstool Sportsbook App to be Rebranded as ESPN BetPenn Entertainment's Barstool Sportsbook app will be rebranded as ESPN Bet this fall as part of a 10-year agreement. WeWork raises doubt about its ability to stay in business amid losses and a dwindling cash pile.
Leer más »
ESPN and Penn Entertainment to Launch ESPN Bet SportsbookESPN, a subsidiary of Walt Disney Co., has reached an agreement with Penn Entertainment Inc. to launch ESPN Bet, a branded sportsbook for fans in the United States. Penn Entertainment will rebrand its existing sportsbook and relaunch it as ESPN Bet in the fall. The new sportsbook will be available in 16 states where Penn Entertainment holds a license for legalized betting.
Leer más »
Disney's ESPN and Penn Entertainment partner to launch ESPN BetDisney's ESPN and casino-owner Penn Entertainment have announced a $2 billion deal to launch a sports betting business called ESPN Bet. The news caused a 20% increase in Penn's shares, while DraftKings' shares fell 9%.
Leer más »
ESPN partners with PENN Entertainment to form ESPN BET, which will launch this fallIn a partnership with PENN Entertainment, ESPN will launch ESPN BET this fall in the 16 legalized betting states where PENN Entertainment is licensed. PENN is selling its stake in the Barstool sportsbook back to the company's founder, Dave Portnoy.
Leer más »
Penn Entertainment sells Barstool Sports back to founder Dave PortnoyDavid Portnoy, the founder of Barstool Sports, has regained ownership of his media brand after buying it back from Penn Entertainment. Portnoy announced the separation between Penn and Barstool in a post on Tuesday.
Leer más »