ESPN and PENN Entertainment announced the early termination of their 10-year, $2 billion partnership agreed upon in 2023, effectively shutting down the ESPN Bet app, on Thursday (November 6).

"When we first announced our partnership with ESPN , both sides made it clear that we expected to compete for a podium position in the space," said Jay Snowden , CEO and president of PENN Entertainment, in a press release. "Although we made significant progress in improving our product offering and building a cohesive ecosystem with ESPN , we have mutually and amicably agreed to wind down our collaboration. We plan to refocus our digital strategy on our growing iCasino business, while continuing to capitalize on our omnichannel advantage as the nation's leading regional retail casino oper

See Full Page