PENN Entertainment Launches New ESPN BET Sportsbooks in Pennsylvania
PENN Entertainment has launched new ESPN BET retail sportsbooks at Hollywood Casino York and Hollywood Casino at Penn National Race Course, with another set to open at Hollywood Casino in Grantville. These openings mark a significant step in the company's expansion into the stock market today. The new sportsbooks offer state-of-the-art facilities, with the York location boasting a high-definition, multi-screen video wall next to table games, accompanied by a stock market and food service. Meanwhile, the Grantville sportsbook is situated near the valet entrance and high-limit gaming room, featuring a full-service restaurant and bar with a 28-foot video display and over 30 TVs. PENN Entertainment, in partnership with Disney, has invested in ESPN BET's online sports betting operations. The company aims to launch seven retail sportsbooks under the ESPN brand by Q3 2025. This partnership, valued at $1.5 billion over 10 years, is expected to grow brand recognition and drive foot traffic to casinos, creating a unified sports betting experience for customers. Currently, ESPN BET holds a 2% market share in the United States sports betting market, with industry leaders DraftKings and FanDuel commanding 26.1% and 27.4% respectively. However, PENN Entertainment CEO Jay Snowden is optimistic about ESPN BET's growth potential and its ability to bolster market share and build customer loyalty. The opening of these new sportsbooks is a critical juncture for the ESPN BET brand, as it seeks to solidify its position in the United States sports betting arena. With its strategic partnerships and investments, PENN Entertainment is poised to enhance the sports betting experience for customers across its casinos.
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