PENN Entertainment will oversee the daily operations of ESPN BET sportsbook. The rebrand included the mobile app, website, and mobile website. PENN's Barstool Sportsbook has been completely rebranded to ESPN BET, while theScore Bet will continue to operate in Canada.
PENN Entertainment agreed to pay $1.5 billion to ESPN over the initial 10-year term and grant ESPN approximately $500 million of warrants to purchase 31.8 million PENN common shares. for an initial 10-year term which may be extended for an additional 10 years upon mutual agreement. PENN secured the exclusive rights in August to the ESPN BET trademark for online sports betting in the U.S. No re-registration will be required and all customer information will still be saved in the app.
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