ESPN and Penn Entertainment are ending their partnership for ESPN Bet early, effective December 1, 2025.
The decision comes amid an NBA gambling scandal involving current and former players.
ESPN Bet will be rebranded as theScore Bet.
ESPN will cease receiving payments from Penn Entertainment.
Penn Entertainment plans to refocus on its iCasino business.
ESPN's exit from the ESPN Bet venture arrives sooner than anticipated, as the original agreement, established in August 2023, was slated to last for ten years. The contract encompassed ESPN providing Penn with its brand name, trademarks, media exposure, and marketing assistance in exchange for yearly cash payments of $150 million and warrants for acquiring Penn common stock. This collaboration incorporated a provision permitting either entity to terminate the agreement following the third year, contingent upon specific market share performance benchmarks being unmet; however, the partnership concluded before reaching its third anniversary. The unfolding NBA gambling scandal, involving figures like Terry Rozier, Damon Jones, and Chauncey Billups, likely accelerated the decision, as ESPN found itself covering the scandal while simultaneously promoting ESPN Bet during NBA broadcasts. Penn Entertainment intends to rebrand its online sportsbook as theScore Bet, aligning its U.S. and Canadian offerings with theScore media app, which boasts approximately 4 million monthly active users in North America. This strategic shift aims to leverage theScore's media presence to enhance its sports betting business and cross-promote its Hollywood-branded iCasino.
Q: Why is ESPN Bet being shut down?
Amid an NBA gambling scandal, ESPN and Penn Entertainment decided to end their partnership early.
Q: What will happen to ESPN Bet?
It will be rebranded as theScore Bet.
Q: When will the changes take effect?
December 1, 2025.
The ESPN Bet rebrand reflects the challenges of integrating sports broadcasting with gambling ventures amidst ethical concerns.
Penn Entertainment is shifting its focus to its iCasino business and leveraging its existing theScore media platform.
Monitor theScore Bet's launch in Missouri and its impact on the U.S. sports betting market.
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