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Forbes
8 Aug 2023
Sports outlet ESPN announced plans Tuesday to launch a sportsbook called ESPN Bet in a $1.5 billion agreement with PENN Entertainment, as ESPN strengthens its position in the blossoming sports betting arena in a blockbuster deal that has PENN selling Barstool Sports back to its founder, Dave Portnoy.
ESPN agreed to a $1.5 billion deal with PENN Entertainment and will launch a sports betting ... [+]
The sportsbook, which will launch as a rebranded version of PENN Entertainment’s existing Barstool Sportsbook, will be available on ESPN’s mobile app and website, the outlet announced.
The agreement with Penn costs the outlet $1.5 billion in cash payments over the next 10 years, Penn announced.
This is a developing story and will be updated.