Penn Entertainment Layoffs 2024: What to Know About ESPN Bet Job Cuts

Integrated gaming provider Penn Entertainment (NASDAQ:PENN) — which provides sports content and casino experiences — saw its shares decline conspicuously on Thursday. Earlier in the day, the company announced that it would initiate job cuts to support growth for its sportsbook partnership, ESPN Bet. However, the lack of business momentum has many investors jittery about the broader implications behind the Penn Entertainment layoffs. Per CNBC, Penn employs about 20,000 people. On paper, then, the Penn Entert ...