PENN Entertainment stock jumps 20% after striking $2 billion sports-betting deal with ESPN
Penn Entertainment stock spiked on Wednesday after the company struck a $2 billion sports-betting deal with ESPN.
The new platform is a rebrand of Barstool Sportsbook and is expected to launch this fall across 16 states where Penn already has a presence in the sports-betting space. The company will pay up $1.5 billion to ESPN over the following decade, while giving ESPN warrants worth $500 million to purchase 31.8 million shares of Penn stock. , with Portnoy agreeing to noncompete arrangements and to give Penn 50% of the proceeds in the event he resells Barstool to another owner.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
ESPN and Penn Entertainment to Launch ESPN Bet SportsbookESPN, a subsidiary of Walt Disney Co., has reached an agreement with Penn Entertainment Inc. to launch ESPN Bet, a branded sportsbook for fans in the United States. Penn Entertainment will rebrand its existing sportsbook and relaunch it as ESPN Bet in the fall. The new sportsbook will be available in 16 states where Penn Entertainment holds a license for legalized betting.
Weiterlesen »
Disney's ESPN and Penn Entertainment partner to launch ESPN BetDisney's ESPN and casino-owner Penn Entertainment have announced a $2 billion deal to launch a sports betting business called ESPN Bet. The news caused a 20% increase in Penn's shares, while DraftKings' shares fell 9%.
Weiterlesen »
ESPN partners with PENN Entertainment to form ESPN BET, which will launch this fallIn a partnership with PENN Entertainment, ESPN will launch ESPN BET this fall in the 16 legalized betting states where PENN Entertainment is licensed. PENN is selling its stake in the Barstool sportsbook back to the company's founder, Dave Portnoy.
Weiterlesen »
Penn Entertainment shares surge on ESPN deal, ZipRecruiter stock slumps and other stocks on the movePenn Entertainment's shares experience a significant increase following a deal with ESPN, while ZipRecruiter's stock declines. Take-Two Interactive, Penn Entertainment, Twilio, and ZipRecruiter are among the notable companies in focus.
Weiterlesen »
ESPN Inks $2B Deal for Gambling Venture With Penn EntertainmentPenn Entertainment will acquire the rights to the ESPN brand for betting purposes for 10 years, with the option to extend for another 10 years. ESPN programs will promote the service, with involvement from some ESPN talent. As part of the deal, Penn will sell Barstool Sports back to founder Dave Portnoy.
Weiterlesen »
ESPN to Launch Online Sportsbook with PENN EntertainmentESPN has partnered with PENN Entertainment to launch online sports betting sites throughout the United States. The agreement signifies PENN's transition from a regional gaming operator to a prominent entertainment leader in North America. ESPN Bet will be seamlessly integrated with ESPN's extensive editorial, content, digital, and linear product, as well as its sports programming ecosystem.
Weiterlesen »