More Penn Entertainment Sportsbooks Rebranding to ESPN Bet

Posted on: January 9, 2025, 10:52h. 

Last updated on: January 9, 2025, 11:13h.

Devin O'Connor @CasinoorgDevinO Read More
Expertise: Asia Pacific Gaming, Commercial Gaming, Legislation, Politics.

Penn Entertainment is rebranding another 10 of its casino sportsbooks after selling off Barstool Sports in August 2013 and entering into a 10-year, $1.5 billion deal with ESPN to leverage the sports media giant’s likeness to its sports betting operations.

ESPN Bet Penn Entertainment sports betting
Penn Entertainment continues to convert its former Barstool Sportsbook venues into ESPN Bet facilities. The regional casino operator announced Thursday that 10 more sportsbooks will be transitioned to ESPN Bet. (Image: Penn Entertainment)

The Pennsylvania-based regional gaming specialist announced Thursday that 10 additional casinos it operates will see their sportsbooks become ESPN Bet locations in the coming days and weeks.

ESPN Bet is coming to Ameristar Casino Hotel Council Bluffs in Iowa, Pennsylvania’s three Hollywood casinos in Grantville, York, and Washington, the two Hollywood Gaming racinos in Ohio’s Youngstown and Dayton, Ameristar Casino Black Hawk in Colorado, Ameristar East Chicago and Hollywood Lawrenceburg in Indiana, and Hollywood Casino Charles Town in West Virginia.

The forthcoming ESPN Bet facilities join ESPN Bet sportsbooks already operating in Kansas, Louisiana, Maryland, Michigan, and Ohio.

Market Gains 

The “official sportsbook of ESPN,” Penn Entertainment says the partnership allows the gaming firm to combine ESPN’s “industry-leading brand and multiplatform reach with Penn’s deep sportsbook operational expertise.” ESPN Bet is available online in 19 states.

Hollywood Casino York, a so-called “mini-casino” in Pennsylvania, will debut its ESPN Bet facility this Saturday with a ribbon-cutting ceremony at 1 pm ahead of the kickoff of the NFL playoffs. The sportsbook in York County is one of many in the Penn portfolio that was previously known as Barstool.

Penn Entertainment first invested in Dave Portnoy’s Barstool Sports in early 2020 with $163 million for a 36% position. The casino company paid another $364 million in February 2023 to acquire the remaining 64% stake.

Penn’s plan to appeal to young men and turn them into sports bettors by leveraging Portnoy and Barstool’s social media reach turned out to be a losing wager after many state regulators raised concerns about Portnoy’s suitability to be involved in a licensed gaming operation.

“We got denied licenses because of me,” Portnoy conceded after Penn sold him back Barstool for just a dollar. “We underestimated just how tough it is for myself and Barstool to operate in a regulated world where gambling regulators and The New York Times and Business Insider write hit pieces.”

Penn continues to try and increase its sports betting market share after the Barstool fiasco put it behind the eight ball. Gaming research firm Eilers & Krejcik estimates that ESPN Bet controls only about 3-4% of the legal sports betting industry. FanDuel and DraftKings account for about 74%.

ESPN integrating ESPN Bet odds into its daily programming has boosted Penn’s sports betting hold. ESPN also allows its customers to link their online accounts to the ESPN Bet mobile app.

“Bringing this new feature to market is an important step towards creating an industry-leading personalized sports betting experience across the ESPN ecosystem,” Penn Entertainment CEO Jay Snowden said during an earnings call in November. “This will help to further drive monetization through enhanced engagement, retention, and reactivation.” 

William Hill Partnership

When Penn Entertainment first rolled out sports betting at its physical casinos in 2018, the sports wagering facilities were rather generic and bland. At the time, Penn had contracted William Hill, one of the oldest bookmakers in the United Kingdom, to run its sports betting facilities.

Caesars Entertainment acquired William Hill in April 2021 after Penn had bet big on Barstool. Along with the $527 million Penn paid for Barstool, the company invested significant funds to convert its casino sportsbooks into Barstool-themed interiors.