Penn Entertainment, the Berks County-based casino and racetrack operator formerly known as Penn National, has announced it will part ways with sports media giant, ESPN.

The two companies have an online sports betting agreement, but Penn Entertainment announced on Thursday morning that the companies have mutually agreed upon an early termination of the agreement. The partnership will end on Dec. 1.

Under the terms of the original agreement announced in August 2023, ESPN agreed to provide Penn Entertainment with media, marketing services, and the exclusive right to the ESPN Bet trademark for online sports betting in the United States in exchange for $150 million per year in cash payments to ESPN and warrants to purchase common stock of Penn Entertainment.

The agreement had an initial te

See Full Page