PENN Entertainment and ESPN to End U.S. Sports Betting Partnership

PENN Entertainment and ESPN have confirmed the early termination of their exclusive U.S. online sports betting (OSB) partnership, with the agreement set to end on 1 December 2025.

The companies mutually agreed to conclude the collaboration originally established in August 2023, which granted PENN the rights to operate ESPN BET under the ESPN brand in exchange for significant annual media spend and equity warrants.

The initial agreement included a 10-year term with market share performance triggers enabling either party to exit after three years.

PENN president and CEO, Jay Snowden, acknowledged that while progress was made, both organisations agreed that winding down the partnership was the appropriate step.

“We expected to compete for a podium position, we made significant progress in improving our product offering, but we have mutually and amicably agreed to wind down our collaboration.”

ESPN chairman, Jimmy Pitaro, highlighted the success of the media-driven customer acquisition achieved under the partnership.

“ESPN drove over 2.9 million new users into the PENN ecosystem.”

“We appreciate the collaboration and are now pursuing other media and marketing opportunities in this space,” Pitaro said. 

PENN entertainment will now shift its digital gaming strategy, with plans to rebrand its U.S. OSB offering to theScore Bet®, aligning the product with theScore media platform, which currently has approximately four million monthly active users across North America.

The relaunch is targeted for 1 December 2025, coinciding with the anticipated legalisation of sports wagering in Missouri, pending regulatory approvals.

TheScore Bet is already operational in Ontario, and the broader integration will enable PENN to create a unified cross-border platform linking betting, media and iCasino. The company will also continue using Hollywood-branded iCasino to cross-sell between online and retail markets.

All remaining contractual payments from PENN entertainment to ESPN will cease in Q4 2025, with ESPN agreeing to support PENN through the transition period. PENN will also remain an ESPN advertising client beyond the termination.

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