ESPN and ESPN BET accounts can be linked for personalized experiences. Moving customers through the ESPN ecosystem for all their needs. Snowden says there will be seamless integration between ESPN media content and ESPN BET for users. PENN Entertainment agreed to pay $1.5 billion to ESPN over the initial 10-year term and grant ESPN approximately $500 million of warrants to purchase 31.8 million PENN common shares. The partnership between PENN Entertainment and ESPN BET announced their partnership this past August, with PENN securing exclusive rights to the ESPN BET trademark for online sports betting in the U.S. It was clear to Jimmy ( Pitaro, ESPN Chairman) that this isn’t something that ESPN wants to do, it’s something that ESPN has to do because sports fans are demanding it,” Snowden said. “When (customers) are ready to place a bet, they have to leave ESPN’s ecosystem and go somewhere else to place a bet. Pitaro said ESPN had made it a priority to keep sports bettors within its ESPN ecosystem instead of having to go to an outside sportsbook to place a bet. Snowden met with ESPN Chairman Jimmy Pitaro earlier this year to discuss a potential deal. When it became clear that ESPN was looking to get into the sports betting market, Snowden said ESPN made it known that they wanted to align themselves with a company that had extensive experience operating sportsbooks, had access throughout the country, and had best in class products and technology. 14 launch during PENN Entertainment’s third quarter 2023 earnings report last week. 14, launch of ESPN BET tonight at the sports media company’s third annual conference. Jay Snowden, President and CEO of PENN Entertainment, and Mike Morrison, ESPN Vice President of Sports Betting & Fantasy, previewed the Tuesday, Nov. 14ĮSPN BET, one of the most hotly anticipated sports betting apps, was introduced to the world tonight at the ESPN Edge conference in New York City. ESPN BET will launch in 17 states on Tuesday, Nov.Jay Snowden, President and CEO of PENN, and Mike Morrison, ESPN VP of Sports Betting & Fantasy, gave visitors a sneak peak of the sportsbook.PENN Entertainment and ESPN previewed the launch of ESPN BET at the ESPN Edge Conference in New York City.Screenshot from the ESPN Edge Conference in New York City.

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