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ESPN Strikes Sports-Betting Deal with Penn Entertainment Worth Over $1.5 Billion

By
Sahil Patel
· · Source: The Information

Casino operator Penn Entertainment has cut ties with Barstool Sports, which it fully acquired in February of this year, while separately striking a deal with ESPN to start a new ESPN-branded sportsbook. Penn will launch ESPN BET this fall in the 16 legalized betting states where it has a license. Under the terms of the deal, Penn will pay $1.5 billion to ESPN over 10 years, with the option to...

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