PENN Entertainment Ends ESPN Partnership and Rebrands to theScore Bet
PENN Entertainment, Inc. (Nasdaq: PENN) announced its financial results for Q3 and the first nine months of 2025, alongside a strategic shift in its digital operations. The company reported revenue of $1,717.3 million for Q3, with an adjusted EBITDA of $194.9 million and a net loss of $865.1 million.
Year-to-date stock buybacks reached $354.4 million, and a new $750 million buyback program will commence in 2026.
Termination of Online Sports Betting Agreement with ESPN
PENN and ESPN have mutually agreed to an early termination of their U.S. online sports betting (OSB) agreement, which will officially end on December 1, 2025. This move reflects a realignment of PENN's digital strategy.
Key Terms of the Termination Agreement
- End of PENN’s OSB marketing exclusivity with ESPN as of December 1, 2025.
- Mutual agreement to discontinue the partnership amicably.
“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.”
“PENN’s unique omnichannel strategy is anchored in a diverse portfolio of market-leading regional casinos and a complementary digital business. We are realigning our digital focus to leverage the strength of our U.S.”
Future Outlook
The company is focusing on enhancing its omnichannel approach, integrating regional casinos with its expanding digital offerings under theScore Bet brand starting December 1, 2025.
Summary
PENN Entertainment ended its digital partnership with ESPN to concentrate on strengthening its omnichannel business, combining regional casinos and its rebranded digital platform theScore Bet.
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