ESPN Bet Set to Enter New York Market with $25 Million License Acquisition

Penn Entertainment secures a significant foothold in North America's largest online sports wagering market, pending regulatory approval.

Penn Entertainment acquires WynnBet's New York mobile sports gambling license for $25 million, marking a significant expansion for ESPN Bet.
ESPN Bet is set to launch in New York later this year, pending approval from the New York Gaming Commission.
The acquisition allows ESPN Bet to enter the largest regulated online sports wagering market in North America.
New York's sports betting market has seen over $35.7 billion wagered since its launch, making it the largest in the U.S.
The deal follows Penn's strategic shift from Barstool Sportsbook to ESPN Bet, aiming to leverage the ESPN brand for growth in the sports betting industry.