Penn's rights to the ESPN Bet brand are secured for an initial ten-year period, with the option for an additional decade. The ESPN Bet platform is a rebranded version of the existing Barstool Sportsbook app, a move that followed Penn's decision to sell Barstool Sports back to its founder, Dave Portnoy, in August. At the time, he stated: ' This strategic alliance is expected to further expand our digital ecosystem and drive re-engagement with the millions of customers in our digital and retail databases, leading to compelling cross-sell opportunities.' Jay Snowden, CEO of Penn Entertainment, expressed enthusiasm about the potential impact of this partnership during Penn’s Q3 results announcement. The partnership entails Penn operating ESPN Bet, while ESPN leverages its online and broadcast platforms to promote the app. This launch follows Penn’s $1.5 billion partnership with Disney-owned ESPN, a collaboration aimed at solidifying Penn's position in the rapidly growing online sports betting market. The sportsbook, accessible on the ESPN Bet app and website, now allows players in various states, including Arizona, New Jersey, Pennsylvania, Massachusetts, Illinois, and Ohio, to engage in sports wagering. ESPN Bet, the new online sportsbook operated by Penn Entertainment, has officially launched in 17 states in the United States.

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