PENN Entertainment, ESPN terminate sports betting deal early
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PENN Entertainment and ESPN Mutually Agree to Early Termination of U.S. Online Sports Betting Agreement
November 6, 2025 7:00 AM ESTWYOMISSING, Pa. and BRISTOL, Conn.--(BUSINESS WIRE)-- PENN Entertainment, Inc. (Nasdaq: PENN) (PENN) and ESPN, Inc. (ESPN) today announced that they have mutually agreed upon the early termination of their exclusive U.S. online sports betting (OSB) agreement, effective December 1, 2025.
Under the terms of the original commercial agreement, announced in August 2023, ESPN agreed to provide PENN with media, marketing services and the exclusive right to the ESPN BET trademark for OSB in the U.S. in exchange for $150 million per year in cash payments to ESPN and warrants to purchase common stock... More
