Penn Entertainment Rebrands Sportsbooks to ESPN Bet, Expanding Market Reach
Penn Entertainment, formerly Penn National Gaming, has initiated a comprehensive rebranding initiative, replacing its Barstool Sportsbook with ESPN Bet following a market entry by ESPN as a brand partner. The rebranding affects both online and offline sports betting platforms and retail locations across the United States.
The rebranding process is ongoing and includes both online sportsbooks and selected casinos and retail locations. As of now, ten retail sportsbooks have been rebranded across several major states, with more to follow. The rebranded sportsbooks are located in Kansas, Louisiana, Maryland, Ohio, Michigan, Iowa, Pennsylvania, Colorado, Illinois, Indiana, and West Virginia. ESPN Bet currently holds a 2.8% market share in the online sports betting sector in the United States, with 20 locations operating under the new brand. The rebranding is part of a $2-billion, 10-year agreement between Penn Entertainment and ESPN. Notably, Penn Entertainment has divested from Barstool Sportsbook, selling the IP rights back to its founder, David Portnoy, for $1.
The rebranding of Penn Entertainment's sportsbooks to ESPN Bet is a significant move in the United States sports betting market. With the rebranding process ongoing, customers can expect to see more locations transitioning to the ESPN Bet brand in the coming months. The collaboration between Penn Entertainment and ESPN is set to shape the future of sports betting in the country.
