Casino owner PENN Entertainment has dropped Barstool, the sports website, agreeing to a $2 billion dollar deal with ESPN to create ESPN Bet
The online Barstool Sportsbook will be rebranded as
Bet trademark for 10 years, with an option to be extended for another 10. ’s broad editorial, content, digital and linear product, and sports programming ecosystem,” Jay Snowden, CEO and president of over the next decade and grant sold all of its Barstool common stock to the sports site’s founder, David Portnoy. In an “emergency press conference” posted on X, previously known as Twitter, Portnoy said it’s the first time he has owned “100%” of Barstool Sports in a decade and that it was difficult to operate with gambling regulators. “The regulated industry is probably not the best place for Barstool Sports and the type of content we make,” Portnoy said.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
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.
Read more »
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.
Read more »
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%.
Read more »
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.
Read more »
ESPN and Penn strike $2 billion deal to rebrand sportsbooks as ESPN BetThe cash infusion from Penn comes as ESPN confronts a deteriorating cable business that has lost some 30 million homes over the last decade. ESPN’s parent company, Disney, lost billions on streaming, while the costs for top sports rights continue to rise.
Read more »
Penn sells Barstool Sports back to Dave Portnoy to partner with ESPNDave Portnoy regains ownership of Barstool Sports and expresses his excitement to have the freedom to speak and act without restrictions. He vows to never sell the company again.
Read more »