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The PENN Entertainment and ESPN partnership lasted just over two years, as both parties announced a split on Thursday morning.
Each side entered into a 10-year agreement in August 2023, with an opt-out clause after three years. PENN and ESPN BET decided not to wait until 2026.
Now that ESPN has become a free agent, DraftKings Sportsbook swooped in and partnered with the media giant.
While PENN plans to stay in the game with another Michigan sportsbook., ESPN BET will cease to exist in three weeks.
What Michigan bettors should look for
Despite all the pivots, changes and announcements, not all that much changes for Michigan bettors.
The ESPN BET app will shutter on Dec. 1. PENN is rebranding the platform to theScore Bet, which coincides with its Canadian product.
All accounts, money, futures bets, and responsible gambling tools will migrate automatically on Dec. 1. Bettors will not have to download a new app.
This date marks another significant milestone for PENN: the launch of online sports betting in Missouri, for which PENN and ESPN Bet were awarded a license.
PENN CEO Jay Snowden explained the strategy in a press release. It remains business as usual for the company, without much hassle for customers, he said.
“We currently operate theScore Bet brand in Ontario, and our OSB product across both the US and Canada will now leverage connectivity with the theScore media app, which has approximately 4 million monthly active users across North America.
“Our OSB offerings will continue to provide a top of funnel cross-sell opportunity for our Hollywood-branded iCasino, which will remain integrated into our OSB product offering in states where legal, in addition to serving as a standalone iCasino app.”
While the online vertical is expected to change, the retail sector will, too. In May 2024, Hollywood Casino at Greektown opened its ESPN BET retail sportsbook.
That will be rebranded to either theScore Bet or just Hollywood.
What are bettors going to see between ESPN and DraftKings?
DraftKings Sportsbook immediately snatched up ESPN once it had split with PENN. Though ESPN BET is going to be rebranded, nothing is happening with DraftKings, from a bettors’ perspective.
Bettors are going to see more DraftKings ads and promotions across ESPN platforms, including the app. ESPN shows and content are also going to cite DraftKings odds.
Jason Robins, CEO and co-founder of DraftKings, called the partnership a “natural fit” in a press release:
“As an innovative leader in digital sports entertainment, DraftKings is uniquely positioned to integrate our technology and products with ESPN’s iconic brand and storytelling power.
“Together, we’re delivering a seamless, engaging, and responsible experience that elevates how fans connect with live sports.”
Since ESPN does not have its own sportsbook, Chairman Jimmy Pitaro explained the approach moving forward:
“Our betting approach has focused on offering an integrated experience within our products.
“Working with DraftKings, a leader in the space, will allow us to build upon that foundation, continue to super-serve passionate sports fans and grow our ESPN direct-to-consumer business. We are excited about this new collaboration with DraftKings.”
