Fox Business·2025-11-06 12:50Core Insights - PENN Entertainment and ESPN have mutually agreed to terminate their U.S. sports betting contract, effective December 1, 2024, after a partnership that began in August 2023 [1][6]. Group 1: Partnership Details - The partnership aimed to enhance PENN's product offerings and create a cohesive ecosystem with ESPN, but both parties decided to amicably wind down the collaboration [3]. - ESPN's involvement in the sports betting market through this partnership was valued at approximately $2 billion [6]. Group 2: Future Strategy - PENN plans to rebrand its online sports betting (OSB) offering to theScore Bet®, targeting a launch date of December 1, 2025, coinciding with the expected launch of sports betting in Missouri, pending regulatory approvals [4]. - TheScore Bet brand currently operates in Ontario and will leverage connectivity with theScore media app, which has around 4 million monthly active users in North America [4]. Group 3: User Engagement and Transition - ESPN's collaboration with PENN resulted in over 2.9 million new users entering the PENN ecosystem, with a notable increase in first-time bettors during the fall [8]. - All outstanding payments to ESPN will cease in the fourth quarter of 2024, and ESPN will assist PENN in transitioning to theScore Bet [10].