Penn Entertainment acquires Wynn Resorts’ New York licenses in a $25m deal. Pending regulatory approvals, Penn anticipates the ESPN Bet brand’s launch in New York in 2024.
Penn will purchase Wynn’s WSI US, LLC for $25m, obtaining WynnBet licenses from the New York State Gaming Commission. This secures mobile sports betting market access for Penn, positioning ESPN Bet among New York’s nine online sports betting brands.
Existing active brands include FanDuel, DraftKings, Bally Bet, BetMGM, Caesars Sportsbook, Fanatics Sportsbook, Resorts World Bet, and BetRivers.
Penn CEO and president Jay Snowden, said:
This is an important development that will bring ESPN Bet to the largest regulated online sports wagering market in North America. Together with ESPN, we’re building a brand that is synonymous with sports betting, and operating in the New York market is key as we grow ESPN Bet across the US.
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