PENN Entertainment Ends ESPN Agreement, Rebrands to theScore Bet
PENN Entertainment, Inc. (Nasdaq: PENN) reported its financial results for the third quarter and nine months ended September 30, 2025. The company announced a strategic shift following the early termination of its U.S. online sports betting (OSB) partnership with ESPN, Inc.
Financial Highlights for Q3 2025
- Revenue: $1,717.3 million
- Adjusted EBITDA: $194.9 million
- Net loss: $865.1 million
- Year-to-date buybacks: $354.4 million
- New $750 million buyback program starting in 2026
Termination of ESPN Partnership
Following a mutual agreement, PENN's OSB marketing exclusivity with ESPN will end on December 1, 2025. This decision aligns with the companies’ shared plan to conclude their collaboration early.
“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.”
PENN’s Strategic Focus Going Forward
Jay Snowden emphasized PENN’s unique omnichannel approach, which is anchored by a diverse portfolio of leading regional casinos paired with a complementary digital business. The company is now realigning its digital strategy to fully leverage its U.S. market strengths.
“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.”
Key Dates
- Termination of ESPN OSB exclusivity: December 1, 2025
- Rebranding to theScore Bet effective December 1, 2025
- New buyback program commencement: 2026
Author’s summary: PENN Entertainment is ending its ESPN online sports betting partnership to realign its digital strategy, emphasizing its strong regional casino portfolio and launching a new buyback program in 2026.