PENN Entertainment Ends ESPN Partnership, Rebrands to theScore Bet
PENN Entertainment, Inc. (Nasdaq: PENN) reported its financial results for the three and nine months ended September 30, 2025, highlighting key changes in its digital strategy.
Financial Highlights for Q3 2025
- Revenue: $1,717.3 million
- Adjusted EBITDA: $194.9 million
- Net loss: $865.1 million
- Year-to-date share buybacks: $354.4 million
- New $750 million buyback program to start in 2026
Termination of Online Sports Betting Agreement
The company announced an early termination of its U.S. online sports betting (OSB) agreement with ESPN, Inc., effective December 1, 2025. This ends PENN’s OSB marketing exclusivity with ESPN.
Terms of the Termination
PENN and ESPN mutually agreed to end their collaboration. The partnership originally aimed to compete strongly in the sports betting market.
“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. 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.”
— Jay Snowden, CEO and President of PENN Entertainment
Strategic Realignment
Jay Snowden emphasized PENN’s omnichannel approach, supported by regional casinos and a digital business. The company will realign its digital focus to capitalize on its strengths in the U.S. market.
“PENN’s unique omnichannel strategy is anchored in a diverse portfolio of market-leading regional casinos and a complementary digital business. We are realigning our digital focus to leverage the strength of our U.S.”
Summary
PENN Entertainment is shifting away from its ESPN collaboration to strengthen its omnichannel offerings and digital presence in the U.S. gambling market.
Author’s summary: PENN Entertainment ends its ESPN sports betting partnership on December 1, 2025, refocusing its digital strategy around its regional casinos and rebranding to theScore Bet.