Penn Entertainment Sportsbooks are being rebranded as ESPN Bet

Posted: January 9, 2025, 10:52 pm.

Last updated: January 9, 2025, 11:13 pm.

Penn Entertainment is rebranding its other 10 casino sportsbooks after selling Barstool Sports in August 2013 and entering into a 10-year, $1.5 billion deal. espn To leverage the likeness of the sports media giant for its sports betting operations.

The Pennsylvania-based regional gaming specialist announced Thursday that 10 additional casinos operated by it will become ESPN Bet locations at their sportsbooks in the coming days and weeks.

The upcoming ESPN Bet facilities will join ESPN Bet sportsbooks already operating in Kansas, Louisiana, Maryland, Michigan and Ohio.

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official sportsbook of espnPenn Entertainment says partnership allows gaming firms to combine of espn “Penn's deep sportsbook operational expertise combined with its industry-leading brand and multiplatform reach.” ESPN Bet is available online in 19 states.

Hollywood Casino, a so-called “mini-casino” in York, Pennsylvania, will debut its ESPN Bet feature with a ribbon-cutting ceremony at 1 p.m. this Saturday before the start of the NFL playoffs. The sportsbook in York County is one of several in the Penn portfolio formerly known as Barstool.

Penn Entertainment first invested in Dave Portnoy's Barstool Sports in early 2020 with $163 million for a 36% position. The casino company paid $364 million in February 2023 to acquire the remaining 64% stake.

After Penn sold Barstool back for just one dollar, Portnoy admitted, “We were denied a license because of me.” “We underestimated how difficult it is for me and Barstool to operate in a regulated world where gambling regulators and new York Times And business insider Write hit pieces.

Penn has continued to try to increase its share of the sports betting market following the Barstool failure and has put it behind the eight ball. Gaming research firm Eilers & Krajcik estimates that ESPN Bet controls only about 3-4% of the legal sports betting industry. FanDuel and DraftKings together account for about 74%.

espn Penn's take on sports betting has increased by integrating ESPN Bet Odds into its daily programming. espn It also allows its customers to link their online accounts to the ESPN Bet mobile app.

“Bringing this new feature to market is an important step towards creating an industry-leading personalized sports betting experience espn ecosystem, Penn Entertainment CEO Jay Snowden said during an earnings call in November. “This will help drive monetization through engagement, retention and reactivation.”

William Hill Partnership

When Penn Entertainment first introduced sports betting in its physical casinos in 2018, the sports betting facilities were generic and dull. At the time, Penn contracted William Hill, one of the oldest bookmakers in the United Kingdom, to run its sports betting facilities.

Caesars Entertainment acquired William Hill in April 2021 after Penn made a big bet on Barstool. Along with the $527 million Penn paid for Barstool, the company invested a significant amount of money to transform its casino sportsbooks into Barstool-themed interiors.