PENN and ESPN begin 10-year sportsbook partnership in the US
PENN Entertainment and ESPN began their sportsbook partnership in the US with the launch of ESPN BET, as described at ESPN’s technology conference. PENN is paying $1.5bn over 10 years for rights to ESPN’s brand, and the agreement includes an opt-out after three years. PENN’s interactive division sets the platform’s odds, according to the account of the conference remarks.
The agreement sets the commercial terms and opt-out point for PENN’s use of ESPN’s brand in its sportsbook.