In a surprising turn of events sending shockwaves through the betting world, Penn Entertainment (PENN) recently announced the end of its marquee partnership with ESPN, bringing its long-standing sportsbook deal to a close earlier than expected.
Penn and ESPN have mutually agreed to end their exclusive U.S. online sports betting partnership early, effective Dec. 1, 2025. The 10-year deal, launched in August 2023, gave the firm rights to the ESPN BET brand in exchange for $150 million annually and stock warrants. Despite user growth and product improvements, Penn Entertainemnt CEO Jay Snowden said both sides agreed to “wind down” amicably after missing market share goals.
