Penn Ends $2 Billion ESPN Bet Deal After Just Two Years

Penn Ends $2 Billion ESPN Deal After Two Years

Penn Entertainment will discontinue its ESPN Bet brand and revert to theScore Bet, taking an $825 million write-down in the process. The company announced that its $2 billion partnership with ESPN will officially end on December 1, a month before the close of the NFL regular season.

Following the termination, the current ESPN Bet app will be renamed theScore Bet, reviving the brand of the Canadian sportsbook Penn purchased in 2021. The collaboration between Penn and ESPN was originally launched in 2023, valued at $2 billion over a ten-year span. Under the agreement, Penn committed to paying $150 million annually along with additional stock warrants tied to ESPN branding rights.

Despite the high expectations, ESPN Bet failed to capture a strong market position. Data from Casino Reports shows that ESPN Bet accounted for just 2.6% of the online sports betting market as of August 2025 and maintained similar figures since mid-2024.

The deal had an option to end after the third year if market share goals were unmet, yet both companies opted to conclude the relationship early.

“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,” said Penn CEO Jay Snowden.

Summary

Penn Entertainment ends its $2B ESPN partnership early, rebranding its betting platform to theScore Bet after ESPN Bet's weak market performance.

https://www.ingame.com/ — 2025-11-06

Penn Ends $2 Billion ESPN Deal After Two Years

Summary

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