Like any Disney fairytale, we’re ready for the hero to dash in and save the day. So, what kind of fairytale do we have concocted for tomorrow’s (14 November) ESPN BET launch?
First up, let’s do some background.
ESPN BET launch: has Penn Met its sports betting match?
We all know Penn Entertainment was billed as one of the pandemic success stories. At the time, few investors thought it had a big part to play in our Disney fairytale with its acquisition of Barstool Sports.
However, unlike our Disney tale of true love, Barstool and Penn was just never meant to be.
At the start of 2023, Penn sold Barstool back to Dave Portnoy for a single paltry dollar. This was mere months after completing the $500 million purchase. A poisoned apple, some might say.
Instead, enter the prince of our tale – Disney-owned ESPN.
This where our tale of true love begins and the story of ESPN BET.
A match made in heaven for ESPN and Penn
Following ESPN’s $1.5bn licensing partnership with Penn Entertainme..