The acquisition gives Penn market access in New York state. As part of the deal, Penn will acquire Wynn Resorts subsidiary Wynn Interactive’s mobile sports wagering licences entity, WSI US, LLC, for $25m (£19.8m/€23.3m).
WSI US, LLC holds the sports betting licences issued to Wynn by the New York State Gaming Commission in 2021.
Upon relevant approvals, Penn will launch ESPN Bet in the state later this year. Penn partnered with ESPN in August last year, in a deal that saw Penn’s Barstool Sportsbook rebranded as ESPN Bet and launched across 17 US states in November.
Jay Snowden, CEO and president of Penn Entertainment, said this acquisition will expose ESPN Bet to the most prominent sports betting market in the US.
“This is an important development that will bring ESPN Bet to the largest regulated online sports wagering market in North America,” said Snowden. “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.”
More to follow…