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In a deal announced on Aug. 8, Penn Entertainment struck a strategic alliance with ESPN to launch ESPN BET for online sports betting. Two months later, ESPN BET still isn’t off the ground.
The licensing deal with ESPN was reportedly worth between $1.5 billion and $2 billion.
It has now been two months since the merger and Barstool Sportsbook, with no official transition plan in place en route to the sportsbook’s conversion into ESPN BET. New user promos under Barstool Sportsbook are still in place, as are VIP hosts that are hosted under the brand name, despite no official tie between Penn and Barstool anymore.
There is currently no official word on whether new user promotions will remain the same or change when ESPN BET launches. Action Network will continue to monitor the latest developments and provide an ESPN BET promo code for new users if and when it becomes available closer to launch.
While the initial plan had been to launch ESPN BET before the NFL season, the plan is now to start the brand change in November.
“I also think the time of year that we’re launching, mid-season, is actually great,” Penn CEO Jay Snowden said last month at the Bank of America Securities 2023 Gaming and Lodging Conference. “… I think we’re going to be able to make a lot of noise, get a lot of attention. And you’re coming in at a point in the year where people have probably burned through most of their free bet promos and deposit matches, and so to be able to sort of reload mid-year with a new app and new experience that’s fully integrated with ESPN, I think that speaks to top of funnel.”
Sixteen states have currently licensed Penn Entertainment to operate sportsbooks. That does not include the stronghold that Penn already has in Canada due to its partnership with theScore and ScoreBet.
A few weeks before the merger, Penn launched a new sportsbook platform that was created by theScore. The casino company previously used Kambi to provide odds for bettors. It is expected that ESPN BET will likely use the same odds platform that is used currently with Barstool Sportsbook.
Penn operates casinos all across the United States. Many of those casinos — in legal sports wagering states — had incorporated sportsbooks with Barstool branding. Those are also expected to turn into ESPN branding.
ESPN BET Launch Update
ESPN BET has announced that the platform will launch on November 14, 2023! Action Network is tracking the final launch time as well as any information about an ESPN BET promo code that will give new users a welcome offer upon signing up. Be sure to check in ahead of the launch day for all the details!
