PENN Entertainment Reports Q3 Results After ESPN Split
PENN Entertainment, the Wyomissing-based company operating casinos, sports betting, and entertainment venues, released its third-quarter financial results on Thursday.
End of Partnership with ESPN
The announcement came just a day after PENN confirmed the end of its ten-year online sports betting agreement with ESPN, known as ESPN Bet. The deal, originally expected to last until 2033, is being terminated only three years in.
Following the split, ESPN revealed that beginning December 1, 2025, it will launch a new online sports betting partnership with DraftKings.
Official Statements
"When we first announced our partnership with ESPN, both sides made it clear that we expected to compete for a podium position in the space. Although we made significant progress in improving our product offering and building a cohesive ecosystem with ESPN, we have mutually and amicably agreed to wind down our collaboration."
— Jay Snowden, Chief Executive Officer and President of PENN Entertainment
Market Reaction and Future Focus
The financial markets reacted strongly to the news. According to Stock Story, PENN’s stock initially jumped 9.2% following the announcement. Despite the end of the deal, PENN is redirecting its digital strategy to strengthen its integrated and omnichannel approach.
As part of the agreed termination, PENN’s online sports betting marketing exclusivity with ESPN will officially conclude on December 1, 2025.
Author’s Summary
PENN Entertainment faces a pivotal shift after its split with ESPN, turning market uncertainty into a chance to reshape its digital and omnichannel business model.