As leagues have embraced the cash flow from legalized gambling, all of sports media has paid more attention to sports betting. With ESPN now holding a stake in the business, the expectation is that more crossover content — think Pat McAfee crafting personalized same-game parlays for ESPN BET to promote during his show — is on the horizon.
“This agreement with ESPN and collaboration on ESPN BET allows us to take another step forward as an industry leader," PENN Entertainment CEO and president Jay Snowden said in a release."Together, we can utilize each other’s strengths to create the type of experience that existing and new bettors will expect from both companies, and we can’t wait to get started.”
PENN Entertainment will receive odds attribution and ESPN talent access as part of the deal. As of June 30, 2023, PENN operated 43 brick-and-mortar properties in 20 states.What happened to Barstool's deal with PENN? The company is once again 100% percent controlled by Portnoy, who said in a video posted on social media that he bought Barstool back from PENN. Portnoy said he and Snowden underestimated how difficult it would be for Barstool to operate in a regulated industry.
"PENN was able to broker an unbelievable deal with ESPN. We wish them nothing but the best," Portnoy said in his video, adding that he would never sell the company again.
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