Connect with us
penn-entertainment-to-lay-off-about-100-employees penn-entertainment-to-lay-off-about-100-employees

ESPN Bet

Penn Entertainment to Lay Off About 100 Employees

Published

on

 

Penn Entertainment plans to lay off about 100 employees as it focuses on growth for ESPN Bet.

CEO Jay Snowden told staff members in an internal email that the changes will enhance operational efficiencies following its 2021 acquisition of Canadian media and gaming powerhouse theScore.

The company employs about 20,000 people.

“When PENN acquired theScore, we hit the ground running with the build-out of our proprietary tech stack and the migration of our sportsbook to theScore’s best-in-class-platform,” Snowden wrote in the memo. “This led us to temporarily set aside any potential organizational changes that would typically follow a major acquisition.”

Penn went on to say it’s embarking on a new phase of growth in its interactive business, which includes ESPN Bet, a $2 billion branding partnership with Disney’s ESPN. Snowden said the initiatives include product enhancements and deeper integration into ESPN’s ecosystem.

Investors are impatient for Penn to demonstrate its muscle with the rebranded sportsbook, and activist investor Donerail Group has called on the board to sell the casino company.

Rumors have swirled about the potential interest from many other online gaming and brick-and-mortar casino companies.

Truist gaming analyst Barry Jonas wrote in a note Thursday that a sale is unlikely in the near term because of the complexity of a transaction that would likely involve major divestitures.

Penn’s release of new ESPN Bet features this fall during football season should meaningfully improve its product, Jonas said, and a focus on costs indicate the company’s commitment to seeing its investment yield results.

Penn shares have plummeted 25% year to date. It has missed earnings expectations the last two quarters and lowered guidance.

“Investors continue to wonder what an ESPN Bet success could look like, and how much more investment (beyond what’s guided) it’ll take to reach,” Jonas notes.

Aaron LaBerge

ESPN BET and ESPN Enhance Sportsbook Experience with New FanCenter Feature

Published

on

espn-bet-and-espn-enhance-sportsbook-experience-with-new-fancenter-feature

 

PENN Entertainment Inc. is elevating the ESPN BET Sportsbook experience with the launch of a major product feature, FanCenter. Coming this summer, the all new FanCenter creates a personalized hub within ESPN BET that will allow customers to easily find wagering markets based on their favorite teams, players, and ESPN fantasy football rosters. This dedicated hub, powered by ESPN and ESPN BET’s account linking technology, will offer fans the ultimate interconnected media, betting, and fantasy experience.

Key components of FanCenter include:

• A “For You” page of curated player props, game markets, and custom parlay offerings to help fans quickly find bets related to their favorite teams, fantasy rosters, and wagering history.

• The “Fantasy Bet Builder,” which highlights markets correlated to a user’s ESPN Fantasy roster, allowing them to back their squad in just a few taps.

• Integrated functionality with ESPN BET’s player insights feature, enabling users to quickly browse recent player stats and trends to inform their prop betting selections.

• Quick access to view current Mint Club promos and rewards.

In addition to fantasy-related markets within FanCenter, a new “Find a Bet” icon on the ESPN Fantasy app will allow players to view markets related to their roster and add selections directly to their ESPN BET bet slip. Last year, ESPN Fantasy Football set an all-time mark with more than 13 million people playing the game.

“FanCenter introduces a completely new level of personalization for ESPN BET and represents our biggest product leap yet. It taps into our players’ fandom in smart, creative ways while connecting seamlessly with ESPN’s industry-leading fantasy football platform. This is what sets ESPN BET apart and football season is the perfect time to show it off,” said Aaron LaBerge, Chief Technology Officer and Head of Interactive at PENN Entertainment.

“FanCenter is the perfect combination of fandom, fantasy and personalized betting all wrapped into the ESPN BET betting experience. FanCenter showcases how we can serve fans across our platforms in a way that nobody else in the market can because of our industry-leading ESPN Fantasy platform and account-linking capabilities,” said Mike Morrison, Vice President ESPN BET and ESPN Fantasy.

The post ESPN BET and ESPN Enhance Sportsbook Experience with New FanCenter Feature appeared first on Gaming and Gambling Industry in the Americas.

Continue Reading

Aaron LaBerge

ESPN BET Now Live in Washington, D.C.

Published

on

espn-bet-now-live-in-washington,-dc.

 

ESPN BET, the official sportsbook of ESPN, has launched in Washington D.C. via PENN Entertainment Inc. ESPN BET is now live in 20 U.S. jurisdictions.

Fans in the District now have access to the state-of-the-art mobile and web betting platform, which offers a variety of markets across sports and leagues from around the world, along with daily odds boosts, profit boosts, featured parlays, live betting markets, custom offers, exclusive promotions and integrations with ESPN content and personalities.

“We’re thrilled to launch ESPN BET in our nation’s capital and expand our presence across the Washington metropolitan area. Along with our partner ESPN, we’re excited to introduce our deeply integrated media and betting experience and further engage with the D.C. area’s passionate sports community,” said Aaron LaBerge, Chief Technology Officer of PENN Entertainment.

ESPN BET offers a unique account linking feature that allows fans to link their ESPN BET and ESPN accounts to seamlessly track upcoming, live and settled bets within the ESPN app and on ESPN.com. Account linking can be accessed either via a prompt within the ESPN BET app or by visiting settings within the latest versions of the ESPN BET or ESPN apps or ESPN.com.

PENN secured market access in Washington, D.C. through a deal with Monumental Sports & Entertainment. The deal also designates ESPN BET as a proud sports betting partner of Monumental and its teams, the Washington Capitals, Wizards and Mystics.

The post ESPN BET Now Live in Washington, D.C. appeared first on Gaming and Gambling Industry in the Americas.

Continue Reading

Ameristar Casino

ESPN and PENN Entertainment Expand ESPN BET Sportsbook Brand

Published

on

espn-and-penn-entertainment-expand-espn-bet-sportsbook-brand

 

ESPN and PENN Entertainment announced that 10 additional retail sportsbooks at key PENN properties will be rebranded to “ESPN BET Sportsbook” in early 2025 (subject to all regulatory approvals), increasing the total number of ESPN BET branded sportsbooks at PENN properties to 19.

The new ESPN BET locations will serve customers across Pennsylvania, Colorado, Ohio, Iowa, Indiana, and West Virginia under PENN’s popular Hollywood and Ameristar Casino brands.

The list of properties that will be rebranded as “ESPN BET Sportsbook” includes:

Ameristar Casino Hotel Council Bluffs – Iowa

Hollywood Casino at Penn National Race Course – Pennsylvania

Hollywood Gaming at Dayton Raceway – Ohio

Hollywood Gaming at Mahoning Valley Race Course – Ohio

Hollywood Casino at The Meadows – Pennsylvania

Hollywood Casino York – Pennsylvania

Ameristar Casino Resort Spa Black Hawk – Colorado

Hollywood Casino and Hotel Lawrenceburg – Indiana

Ameristar Casino East Chicago – Indiana

Hollywood Casino at Charles Town Races – West Virginia

PENN’s existing ESPN BET retail locations span properties in Kansas, Louisiana, Maryland, Michigan, and Ohio.

ESPN BET, the official sportsbook of ESPN, combines ESPN’s industry-leading brand and multiplatform reach with PENN’s deep sportsbook operational expertise. ESPN BET is currently available for online sports betting in 19 states.

The post ESPN and PENN Entertainment Expand ESPN BET Sportsbook Brand appeared first on Gaming and Gambling Industry in the Americas.

Continue Reading

Trending