ESPN and Penn Entertainment agreed to launch ESPN Bet in the US under a 10-year partnership, according to the report. Penn will pay $1.5bn in cash and ESPN will receive warrants worth $500m, with options tied to performance benchmarks. The sportsbook will replace Penn’s Barstool Sportsbook and be available in 16 states, the report said.
The agreement combines ESPN media rights and Penn’s sportsbook operations across 16 US states.
Quarter ended 30 September 2026
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FanDuel Sportsbook and FanDuel Sports Network, owned by Main Street Sports Group, launched Bet Tracking for selected NBA and NHL broadcasts in US markets. The feature links FanDuel accounts with the network’s viewing platform so users can follow wagers during games. The launch covers broadcasts involving five NBA teams and four NHL teams.
MGM Resorts International and Playtech agreed to offer live casino games broadcast from MGM Grand and Bellagio in Las Vegas. The initial offering will include single-zero and double-zero roulette and some baccarat, with licensing available to online casinos in regulated markets outside the United States; the games will not be offered to US casino players.
PENN Entertainment and ESPN planned to launch ESPN BET on 14 November, following a partnership formed in August, the companies said. PENN was to pay $150 million annually for the ESPN branding rights; the company said it aimed for a 20% nationwide market share by 2027.
PENN Entertainment is preparing to launch ESPN BET in the US with ESPN as its partner, and the companies may seek to convert ESPN Fantasy users into sports bettors. Industry analysts cited in the report questioned how effectively season-long fantasy players would move to betting, contrasting them with daily fantasy users. The sportsbook was expected to launch in November, according to the report.
PENN Entertainment was preparing to relaunch its sportsbook as ESPN BET in November under its partnership with ESPN, the company said. Massachusetts gaming commissioners questioned PENN’s information about the transition and its implications for public discussion of sports betting; they planned to revisit the issue at future meetings.