theScore Bet®: PENN Entertainment and ESPN End Partnership, Rebranding and Expansion Plans Revealed
ESPN and PENN Entertainment have decided to end their partnership in the U.S. online sportsbook business, ESPN BET, earlier than planned. The original agreement, which began in August 2023, included a $150 million annual payment to ESPN in exchange for using its name and trademark, as well as media and marketing services. The partnership was supposed to last for 10 years but will now end on December 1, 2025, due to not meeting specific market share performance thresholds.
Jay Snowden, CEO and president of PENN Entertainment, expressed that despite making progress in improving their product offering and collaboration with ESPN, both parties have agreed to wind down the partnership. PENN Entertainment plans to focus on its iCasino business and rebrand its online sportsbook as theScore Bet® in the U.S. starting December 1, 2025. This move aligns with the expected launch of sports betting in Missouri, pending regulatory approvals.
TheScore Bet brand is currently operational in Ontario, and the online sportsbook product in the U.S. and Canada will now be integrated with the theScore media app, which has around 4 million monthly active users in North America. The online sportsbook offerings will also serve as a cross-sell opportunity for PENN Entertainment's Hollywood-branded iCasino, which will be available as a standalone app in states where legal.
Jimmy Pitaro, chairman of ESPN, acknowledged the unique offering created by ESPN and PENN Entertainment, which attracted over 2.9 million new users to the PENN ecosystem. Despite the early termination of the partnership, ESPN is exploring other media and marketing opportunities in the sports betting space. Stay tuned for more updates on this evolving situation.