ESPN Partners with DraftKings for Sports Betting After Ending Penn Entertainment Deal
ReutersDecember 5, 20251 min454 views
6 connections·6 entities in this video→New Sports Betting Partnership
- 🎯 ESPN has signed a new multi-year agreement with DraftKings, designating it as the network's official betting site.
- ⚡ This strategic shift occurred shortly after ESPN terminated its 10-year partnership with Penn Entertainment, which began in August 2023.
Previous Partnership Details
- 💰 The prior deal with Penn Entertainment was valued at $150 million annually, plus warrants for Penn stock, in exchange for marketing services and exclusive rights to the ESPN Bet brand.
- 🔄 The ESPN Bet app will now be rebranded as the Score Bet and will continue to be owned by Penn Entertainment.
Integration and Future Plans
- 🗓️ Beginning in December, DraftKings Sportsbook and Daily Fantasy contests will be incorporated across various ESPN platforms, including its streaming service.
- 📱 A dedicated betting tab will be featured within the ESPN app, and DraftKings will promote ESPN's new streaming service to its customer base.
- 🤝 Financial terms of the new partnership between ESPN and DraftKings were not disclosed.
- 📈 Shares of DraftKings saw an increase of over three and a half percent following the announcement of the deal.
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ESPNDraftKingsSports BettingPenn EntertainmentESPN BetPartnership DealMarketing ServicesDaily FantasyStreaming ServiceStock Warrants
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