Rebranding of Additional Penn Entertainment Sportsbooks to ESPN Bet
Penn Entertainment, a leading name in the gaming industry, has announced a significant change in its sportsbooks. On January 9, 2025, the company unveiled plans to rebrand 10 of its casino sportsbooks as ESPN Bet locations.
The decision comes as part of a $1.5 billion deal Penn Entertainment struck with ESPN, aiming to create an industry-leading personalised sports betting experience across the ESPN ecosystem.
The partnership between Penn Entertainment and ESPN allows for the combination of ESPN's industry-leading brand and multiplatform reach with Penn's deep sportsbook operational expertise. This partnership has already shown positive results, with ESPN integrating ESPN Bet odds into its daily programming boosting Penn's sports betting hold.
The sportsbooks will be located in Iowa, Pennsylvania, Ohio, Colorado, Indiana, and West Virginia. Some of the specific locations include the Ameristar Casino Hotel Council Bluffs, Pennsylvania's three Hollywood casinos, the two Hollywood Gaming racinos in Ohio, Ameristar Casino Black Hawk, Ameristar East Chicago, Hollywood Lawrenceburg, and Hollywood Casino Charles Town.
One of the rebranded sportsbooks, previously known as Barstool in York County, will debut on January 15, 2025, with a ribbon-cutting ceremony at 1 pm ahead of the kickoff of the NFL playoffs.
The rebranding is not a new venture for Penn Entertainment. The company initially invested $163 million in Dave Portnoy's Barstool Sports in early 2020 for a 36% position. However, concerns about Dave Portnoy's suitability to be involved in a licensed gaming operation raised concerns among state regulators, leading to the denial of licenses for some Penn Entertainment sportsbooks. As a result, Penn sold Barstool back to Portnoy for just a dollar.
When Penn Entertainment first rolled out sports betting at its physical casinos in 2018, the sports wagering facilities were generic and bland, as they were contracted to William Hill to run. However, with the acquisition of Barstool Sports, the company aimed to create a more engaging and unique sports betting experience. Caesars Entertainment, which acquired William Hill in April 2021, will no longer be involved in the management of these sportsbooks.
ESPN Bet facilities are already operating in Kansas, Louisiana, Maryland, Michigan, and Ohio. The rebranded sportsbooks will be named ESPN Bet, and ESPN customers can link their online accounts to the ESPN Bet mobile app.
ESPN Bet controls approximately 3-4% of the legal sports betting industry, with FanDuel and DraftKings accounting for about 74%. The rebranding is expected to strengthen Penn Entertainment's position in the market and provide a more integrated and personalised sports betting experience for its customers.
Penn Entertainment CEO Jay Snowden stated that bringing this new feature to market is an important step towards creating an industry-leading personalized sports betting experience across the ESPN ecosystem. The rebranding of sportsbooks is expected to be completed by the end of 2025.
